SoftBank Corp.(“SoftBank”) and TBCASoft, Inc.(“TBCASoft”) today announced the launch of a blockchain-based “Identification & Authentication” Working Group under the Carrier Blockchain Study Group (CBSG), the global blockchain consortium of telecom carriers.
TBCASoft created a new foundation application framework called CrossCarrier Identification System (CCIS) that will focus on enabling identification and authentication services. SoftBank and TBCASoft are leading this Working Group under the CBSG Consortium and will collaborate with CBSG Consortium members around the world.
TBCASoft’s CCIS system uses zero-knowledge proof (ZKP) cryptography and distributed ledger technology (DLT) that enables the issuing, storing and authentication of users’ identification in a private and secure way, SoftBank said.
Also in the release was stated that CCIS gives individuals freedom from creating multiple accounts and remembering countless passwords to protect their personal information from identity thefts by using TBCASoft’s Cross-Carrier Blockchain Technology and telecom carriers’ highly protected data centers. Via CCIS, businesses and individuals can share and verify encrypted digital identities without disclosing confidential or private information.
SoftBank vice president Takeshi Fukuizumi is quoted in the press release as saying that
We envision that individuals should create encrypted digital identities, instead of using and storing multiple usernames and passwords on databases here and there with various qualities of privacy protection.
The effort aims to address the problems that users of current identification and verification services need to place trust in a centralized organization, and must disclose their personal data to multiple entities which is stored on different internet databases.
Ling Wu, Founder and CEO of TBCASoft as quoted in the release saying:
CCIS is a global platform that protects individuals’ identities from fraudulent activities with telecom carrier-grade reliability. TBCASoft is committed to working with telecom carriers to provide comprehensive and cost-effective blockchain-based identification and transaction services to businesses and individuals around the globe.
The CBSG consortium was launched back in September 2017 to enable the joint development of an innovative blockchain platform designed specifically for telecom carriers, with major operators including U.S.-based carrier Sprint and one of Taiwan’s largest telecom operators FarEasTone. The consortium has already successfully tested blockchain systems for mobile payments and topping up prepaid phones across different carriers using TBCASoft’s platform.