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Spanish telecoms monster Telefonica has joined forces with security technology startup Rivetz to create cell phone security answers for blockchain-based exchanges and messaging, the companies reported on Thursday.
The accomplices will join Telefonica’s network security administrations with Rivetz’s blockchain and trusted-processing technologies to investigate decentralized answers for security and information controls. The work will particularly be gone for enhancing applications for secure messaging and cryptocurrency wallets.
For their end product, the firms said that they intend “to provide cybersecurity controls and protection to hold multiple cryptocurrencies, assuring the digital assets and processes are protected within a device’s hardware.”
Head of the Discovery and Innovation Lab at Telefonica’s cybersecurity arm, ElevenPaths Sergio de los Santos stated that “Trusted computing technologies are not an end by themselves,”. Instead, they “are an opportunity to improve mobile users’ security, providing a research and innovation framework in the context of cybersecurity.”
The companies additionally plan to inspect better approaches to robotize the backup and recovery of client identity data by utilizing existing mobile hardware security.
In the statement, Rivetz CEO Steven Sprague stated that “Blockchain access and secure messaging are core building blocks to automating the user experience when it comes to digital services,”.
Rivetz and Telefonica cited the growing body of projects identified with blockchain and the internet of things (IoT) as the force for the partnership, taking note of that Rivetz’s technology have been in beta since January of this current year. The accomplices will merge their “upgraded” version of the tech with Rivetz’s present application developer and plan to offer the item to picked partners by June.
Both Rivetz and Telefonica are not new to the blockchain space. This week Telefonica declared that it had joined a blockchain settlement trial for the telecoms business drove by Colt Technology Services and PCCW Global. Rivetz has been associated with the business since 2014 when it initially created cybersecurity security for bitcoin wallets.
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