SoftBank Corporation To Lead Blockchain Identification Research
The holding conglomerate from Japan SoftBank Corp. and the American telecom company TBCASoft will lead the working group on the research of blockchain digital identification, according to a press release on the SoftBank official site. The team will be formed on the basis of the CBSG blockchain study center.
It is reported that this group will be engaged in the research of authentication and identification technologies in blockchain systems. First of all, experts will focus on the CrossCarrier Identification System (CCIS) framework from the TBCASoft developers. The product allows protecting users' information from hacker attacks and other intruders’ actions thanks to the system decentralization and cryptographic tools.
CBSG, the global blockchain consortium of telecom companies, was created in 2017 to stimulate the broader use of distributed ledger in the telecommunications sector. Apart from Softbank and TBCASoft, the Taiwanese company Far EasTone and the US telecom agency Sprint are also named among the participants of the organization.
In July last year, large companies from Vietnam, Taiwan, Turkey, South Korea, and other countries joined the consortium. In the long term, the members of CBSG intend to create a blockchain-based ecosystem to provide various services, such as mobile account replenishment, secure payments, personal authentication, and applications compatible with the Internet of Things (IoT).
As previously reported, the Vision Fund company, a subsidiary of SoftBank, in January 2019 sold the securities of the mining video cards manufacturer Nvidia worth $3.6 billion.