Japanese multinational holding conglomerate SoftBank Corp and AAmerican telecoms-focused blockchain firm TBCASoft plan to lead a new working group on blockchain-based digital identity under the auspices of the Carrier Blockchain Study Group (CBSG). This was announced in a press release from SoftBank on February 26.
CBSG — a global blockchain consortium of telecom carriers — was founded in September 2017, in a bid to push greater adoption of the technology in the industry. Alongside Softbank and TBCASoft, the organization counts Taiwan-based telecoms carrier Far EasTone and U.S.-based telecoms firm Sprint as founding members.
A new working group dedicated to solutions for identification and authentication of the blockchain, initially will focus on new basic application environment called CrossCarrier Identification System (CCIS) developed by TBCASoft.
According to the press release, legacy identification systems demand that users trust a central authority with the safeguarding and circulation of their personal data, such as passwords and usernames. CCIS, in turn, uses blockchain technology and zero-knowledge proof cryptography for the abolition of the intermediate verification process and enhance the level of protection for users. The introduction of CCIS will be implemented by several independent members of CSBG.
SoftBank vice president Takeshi Fukuizumi said:
"We believe that responsible parties should create an encrypted digital ID, and not use and store usernames and passwords in different databases with different levels of privacy protection".
The purpose of the consortium in the long term is the creation of a global blockchain ecosystem, which encompasses mobile top up, secured clearing and settlement, personal authentication and Internet of Things applications.
Last week, the media reported that the largest South Korean wireless operator SK Telecom has signed a partnership with Deutsche Telecom, the fifth largest telecommunications company in the world, to create solutions for mobile authentication based on the blockchain.