Blockchain id startup Civic has joined a partnership beforehand shaped between crypto cybersecurity firm Rivetz and Telefónica’s cybersecurity unit ElevenPaths to ship blockchain-powered id options to cell customers.
Civic is an id safety and administration startup based in 2015 by South African Internet entrepreneur Vinny Lingham. The firm raised US$33 million in funding during its initial coin offering (ICO) in June of 2017 and partnered with WikiHow in August 2017 to present the how-to web site with encrypted login performance.
Civic has developed a blockchain identity-verification expertise that permits customers to authorize the usage of their identities in actual time. The startup is now creating an ecosystem designed to facilitate on-demand, safe and low-cost entry to identity-verification providers through the blockchain.
Civic’s id options will combine with the cybersecurity structure developed by Rivetz and Telefónica.
“Our partnership with Rivetz and ElevenPaths is a massive step in putting an uncomplicated digital identity solution in the hands of mobile users, who then call the shots,” stated Lingham, CEO and co-founder of Civic. “The concept of identity is rapidly changing, and we look forward to a revolutionary partnership that makes sharing and verifying identity safe and seamless.”
Rivetz and Telefónica has developed a expertise known as Dual Roots of Trust cryptography, which distributes a person’s non-public key between two impartial roots of belief or working programs: the Trusted Execution Environment (TEE), an remoted, measured laptop surroundings separate from the machine’s working system, and the provider subscriber id module (SIM). This construction offers a further layer of safety for personal keys even when one of many programs is compromised.
The two corporations unveiled the brand new expertise on the Mobile World Congress Americas in September 2018.
With Civic, private data might be saved domestically on a cell machine and guarded by biometrics and encryption. The integration will allow Civic to separate domestically saved private data from the person’s non-public key, including an additional layer of safety.
“We are pleased to have Civic as part of the project to bring blockchain-powered identity verification services to the consumer,” stated Steven Sprague, CEO of Rivetz. “The integration of built-in security and digital identity will offer a simple yet powerful new capability for users.”
Telefónica is likely one of the largest telecommunications corporations on the planet by market capitalization and variety of subscribers, providing providers and connectivity over fastened, cell, and broadband networks. It is likely one of the world’s largest cell carriers with 300 million subscribers and presence in 21 nations.
“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”, stated Pedro Pablo Pérez, Telefónica’s vp of world safety and CEO of ElevenPaths.