Wanchain Joins Telefonica And Rivetz Partnership To Develop Mobile Blockchain Security Solutions
Rivetz, a leading provider of mobile and blockchain-based security solutions, and Telefónica Cybersecurity Unit have announced the addition of a new member to their partnership on Mobile security projects.
Rivetz Corp and communication solutions provider Telefonica Group formed their partnership in 2017 in a move that allowed Rivetz to integrate the highly regarded CyberThreats Detection & Response Service offered by Telefonica.
The cybersecurity solution was designed to help organizations, as well as individuals, get protection against cyber threats like security breaches, information leaks, hacktivism, and identity theft among others.
Wanchain joins Rivetz and Telefonica
In a press release published on Thursday, January 17, Rivetz and Telefonica’s ElevenPaths announced that blockchain firm Wanchain had joined the partnership to aid in providing privacy protections targeting mobile technology.
Wanchain, a public blockchain designed for interoperability, will help enhance the existing cybersecurity protections offered to individual consumers and enterprises.
The partnership is an extension of the earlier cooperation between Rivetz and ElevenPaths. The two worked on a project dubbed the Dual Roots of Trust.
The Dual Roots of Trust is a built-in hardware security tool that could protect billions of devices around the world via its carrier-grade identity and e-commerce protections technology.
Per the press release, Wanchain is expected to integrate Rivetz’s sophisticated hardware protections, potentially delivering an assurance that recording of blockchain transactions and data happen as intended.
The Dual Roots of Trust tool allows for the cryptographic distribution of a user’s private, achieved by having the key at two “independent roots of trust.” These roots are the Trusted Execution Environment (TEE) and a mobile carrier’s subscriber identity module (SIM).
The next-gen solution offers users an additional layer of protection, with consumers always maintaining control over their private keys even in a case where the system suffers a security breach like in the case of a malware attack.
Accordingly, users will get a glimpse of the integration and workability of the solution at next month’s Mobile World Congress that will be held in Barcelona between February 25 and 28 this year.
With consumer protection among the key concerns in the crypto industry, Rivetz and Telefonica are keen to provide secure blockchain-based mobile interactions.
Wanchain CEO Jack Lu said that the partnership will see the introduction of solutions that accord subscribers access to “mass market security and privacy.”
In May 2018, Rivetz and Telefónica announced collaboration in which the two firms seeking to develop advanced mobile security protocols to be used in securing blockchain transactions and messaging.
The mobile solution leveraged dual encryption to support both the TEE that multiple manufacturers embed in devices and that on SIMs as deployed by Telefónica.
Telefonica’s head of security and the CEO of ElevenPaths Pedro Perez has said that the latest partnership will play a key role in the development of innovative core technology critical in the protection of “user identities, sensitive information, and digital assets.”
Disclaimer: This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.