Japanese multinational holding conglomerate SoftBank and U.S.-based blockchain-focused developer TBCASoft 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, the press release states.
The so-called CrossCarrier Identification System (CCIS) will focus on verification and authentication services. As a reason for such partnership, SoftBank highlights the problem of identification databases centralization that could be regulated by a minority group.
Takeshi Fukuizumi, VP of SoftBank, claims individuals should create encrypted digital identities, instead of using and storing multiple usernames and passwords on databases.
"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," he added.
Previously, German automobile manufacturer, Mercedes-Benz, entered into a partnership with Icertis, a software provider for large-scale business, for the joint development and implementation of blockchain technology in the supply chain.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.