26 February 2019 - SoftBank and TBCASoft Launch Blockchain-Based “Identification & Authentication” Working Group Under The Carrier Blockchain Study Group (CBSG)
Sunnyvale and Tokyo, February 26, 2019 – 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 Cross-Carrier 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.
Most current identification systems rely on a centralized database that could be dominated by a minority group. Users of those services need to trust one centralized authority to provide accurate identification and authentication processes. As a result, individuals disclose personal information to the system providers on numerous internet databases. Compared to centralized services, CCIS provides a blockchain-based solution operated by independent CBSG carrier members under a CCIS Cross-Carrier Consensus with carrier-grade reliability. CCIS uses Zero Knowledge Proof cryptography and Distributed Ledger Technology (DLT) that enables issuing, storing and authenticating a user’s identification without having to reveal private detailed information that the user may not want or need to share.
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.
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.”
Ling Wu, Founder and CEO of TBCASoft said, “After the success of the Cross-Carrier Payment System (CCPS), CCIS is another important foundation application framework that TBCASoft has been developing for CBSG Consortium members. 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.” Mr. Wu is also the Co-Chairman of the CBSG Consortium.
The CBSG Consortium is the leading telecom blockchain consortium. It was launched in September 2017 to enable the joint development of an innovative blockchain platform designed specifically for telecom carriers, led by U.S.-based blockchain technology company TBCASoft, Inc. and Japan-based SoftBank, with U.S.-based Sprint Corporation and Taiwan-based Far EasTone Telecommunications Co., Ltd. as initial founding members. CBSG aims to provide telecom members and their customers various services such as secured global digital payments and clearing and settlement, personal authentication, IoT applications and other services using blockchain technology.
SoftBank Corp. (TOKYO:9434), a subsidiary of SoftBank Group Corp. (TOKYO:9984), provides mobile communication, fixed-line communication, and Internet connection services to consumers and corporate customers in Japan. Leveraging the innovative technologies of other SoftBank Group companies, SoftBank Corp. is also expanding into AI, smart robotics, IoT, FinTech, cloud security and other business sectors. To learn more, please visit https://www.softbank.jp/en/.
TBCASoft is a U.S.-based company developing innovative blockchain technology specifically for telecommunication carriers. Its consortium-based blockchain platform enables telecommunication carriers to create innovative services for their subscribers under a more secure, robust, and efficient environment. TBCASoft is located in Sunnyvale, California, the center of Silicon Valley. To learn more, please visit TBCASoft at www.tbcasoft.com.
TBCASoft, Inc. (USA)