Rivetz Corp. and Telefónica announced on May 15th an agreement to collaborate on the development of advanced mobile security protocols for blockchain transactions and messaging. The solution expects to leverage dual encryption, supporting both the Trusted Execution Environment embedded by multiple device manufacturers and the advanced encryption on SIMs deployed by Telefónica.
The collaboration will explore how to deliver a new, decentralized model for enhanced security and data controls, improving consumer applications that include secure messaging and cryptocurrency wallets. Rivetz and Telefónica will further explore new business models to simplify and automate backup and recovery and existing user identity information by enabling millions of endpoints to tap into already existing – but unused – mobile hardware security.
This collaboration will combine Telefónica’s advanced network security services through its cybersecurity unit, ElevenPaths, with Rivetz’s trusted computing and blockchain-based solutions to provide state-of-the-art cybersecurity protections.
The partners will leverage isolated roots of trust in the hardware and in the SIM to enable split-key encryption and offer state-of-the-art protection of consumer assets and data. The solution is expected to use both blockchain and trusted computing technology to provide cybersecurity controls and protection to hold multiple cryptocurrencies, assuring the digital assets and processes are protected within a device’s hardware. Rivetz and Telefónica aim to accelerate existing efforts in privacy, data compliance and security, facilitating the revolution in information integrity and assurance driven by 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.”
The Rivetz technology has been in an active beta test since January 2018, providing a strong foundation for the enhancement of security achieved by the integration of the SIM-protected key management. The enhanced solution will be integrated into Rivetz’s existing application developer solution, which will be available to select partners later this quarter. Application providers will be able to easily integrate this solution, thus increasing data security, transactional quality and value of services delivered to users through their devices.