Telefonica Joins Rivetz To Develop Blockchain-Based Security Solution For Mobile
Rivetz and Telefonica are partnering to develop a new decentralized model that will enable improved security and data control in messaging and cryptocurrency wallets applications. The companies will want to simplify and automate the backup and recovery of existing user identify information, which will allow millions of endpoints to access existing mobile hardware security.
The new cybersecurity solution will depend on a Trusted Execution Environment (TEE) built into smartphones and supplemented with enhanced encryption SIMs set up by Telefonica. This ensures that dual encryption and provides multiple layers of strong hardware-based security for mobile users.
“Trusted computing technologies are not an end by themselves, but are an opportunity to improve mobile users’ security, providing a research and innovation framework in the context of cybersecurity,” Sergio de los Santos commented, head of Telefónica’s Discovery and Innovation Lab, ElevenPaths.
This partnership will allow combining the enhanced network security services provided by Telefonica’s cybersecurity unit ElevenPaths with Rivetz block chain-powered computing solutions. This will end in an unparalleled protection based on a regionalized cybersecurity model.
Rivetz and Telefonica take advantage of isolated hardware and SIM security protocols to provide a split-key encryption solution and ensures advanced security for consumer assets and data. This solution employs a combination of blockchain and trusted computing technology promising that digital assets and processes remain secure within the device hardware. These join forces intend to improve privacy, data compliance, and security while aiding a transition to information integrity and enhancing the quality of transactions.
“Blockchain access and secure messaging are core building blocks to automating the user experience when it comes to digital services,” said Steven Sprague, CEO of Rivetz. “We’re honored to partner with Telefónica to explore how to fully leverage the embedded cyber security technologies of mobile to deliver next-generation data services and business models to enhance the quality of subscriber relationships.”
Since January 2018, Rivetz has been beta-testing its technology. Integration with SIM-protected key management enables an enhanced level of protection, with the solution incorporated into Rivetz’s existing developer application and made available to choose partners later this quarter. The developers are always capable to achieve increased data security and transactional quality delivered to end-users. The entire system offers provable cybersecurity controls on the blockchain for next-generation data compliance.
