SoftBank and TBCASoft have launched a blockchain-based identification and authentication working group under the Carrier Blockchain Study Group (CBSG).
TBCASoft has created a new foundation application framework called CrossCarrier Identification System (CCIS), which supports the establishment of identification and authentication services.
This working group will collaborate with the global consortium of telecom blockchain companies of CBSG Consortium.
Current identification systems operate through a centralised database which relies on trusting the single authority. Due to this method, individuals disclose their personal information across numerous amounts of these databases.
Through the blockchain-powered CCIS solution, zero knowledge proof cryptography and distributed ledger technology enables the issuing, storing and authenticating of a user’s identity without the need of revealing or sharing private information.
This solution also empowers individuals to create multiple accounts without the need of creating as many passwords or login details.
Takeshi Fukuizumi, VP of SoftBank said, “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.
“We have been working with TBCASoft on solving identification and authentication problems and have an answer with CCIS. We believe that telecom operators under the CBSG Consortium will play very important roles in the global identity business.”
Earlier in the year, SoftBank chose Nok Nok Labs to develop biometric authentication for their mobile customers. The technology enables customers to access their mobile app through biometrics, giving them simpler and quicker access to their data – the new service is available on Android and iOS devices.
Sll credits to source below by RegTech Analyst: