Tokyo-based multinational holding conglomerate SoftBank and TBCASoft, an American company providing blockchain-tech for telecom, have launched an “Identification & Authentication” working group whose aim is to put identification solutions on a blockchain, the companies announced in a press release. The group will be working under the Carrier Blockchain Study Group (CBSG).
The group will concentrate on TBCASoft’s CrossCarrier Identification System (CCIS)—a blockchain-based ID solution. Thanks to using cryptographic proof that is zero-knowledge, a user’s identification can be authenticated without sharing any unwanted or unnecessary personal information thus the solution helps protect their privacy.
"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,” said Takeshi Fukuizumi, VP of SoftBank.