Telefónica Partners with Rivetz to Develop Blockchain-Based Security Solution for Mobile
Rivetz and Telefónica have entered into a partnership to promote innovative solutions for mobile security protocols used in blockchain transactions and messaging.
Rivetz and Telefónica are joining forces to develop a new decentralized model that will allow improving security and data control in messaging and cryptocurrency wallets applications. The companies will also seek to simplify and automate the backup and recovery of existing user identity information, which will allow millions of endpoints to access existing mobile hardware security.
The new cybersecurity solution will be based on a Trusted Execution Environment (TEE) built into smartphones and supplemented with enhanced encryption SIMs deployed by Telefónica. This will ensure dual encryption and provide 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,” commented Sergio de los Santos, head of Telefónica’s Discovery and Innovation Lab, ElevenPaths.
This partnership will allow combining the advanced network security services provided by Telefónica’s cybersecurity unit ElevenPaths with Rivetz’s blockchain-powered computing solutions. The result will be unparalleled protection based on a decentralized cybersecurity model.
Rivetz and Telefónica will take advantage of isolated hardware and SIM security protocols to provide a split-key encryption solution and ensure advanced protection for consumer assets and data. This solution will employ a combination of blockchain and trusted computing technology to guarantee that digital assets and processes remain secure within the device hardware. The partners aim to improve privacy, data compliance, and security while facilitating 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 cybersecurity technologies of mobile to deliver next-generation data services and business models to enhance the quality of subscriber relationships.”
Rivetz has been beta-testing its technology since January 2018. Integration with SIM-protected key management will enable an enhanced level of protection, with the solution incorporated into Rivetz’s existing developer application and made available to select partners later this quarter. The developers will be able to achieve increased data security and transactional quality delivered to end-users. The whole system will provide provable cybersecurity controls on the blockchain for next-generation data compliance.