Rivetz, an industry leader in embedded, blockchain-based mobile security solutions, and ElevenPaths, Telefónica’s Cybersecurity Unit, today announced that Wanchain, the world’s leading public blockchain focused on interoperability, will join their partnership to offer blockchain solutions to enable the next-generation technology for some of the strongest privacy and cybersecurity protection for consumer and enterprise mobile subscribers available today.
Wanchain enables decentralized transfer of value between blockchains, providing industry-leading cross-chain functionality – a key component for entrepreneurs and enterprises alike to leverage the Web 3.0 economy. Enabling a safe and frictionless flow of value between blockchains, Wanchain’s core technology paves the way for mass adoption of digital currencies. The solution simplifies the transfer of value from one currency to another and will offer users the convenience and simplicity that everyday use requires.
The partnership expands on Dual Roots of Trust, the built-in hardware security technology co-developed by Rivetz and ElevenPaths, enabling carrier-grade identity and e-commerce protections on potentially tens of millions of devices at Telefónica and billions of devices worldwide. Wanchain will also integrate Rivetz’s advanced hardware protections to deliver a new level of assurance that transactions and data on blockchains are recorded as intended.
With Dual Roots of Trust, a user’s private key is cryptographically distributed between two independent roots of trust: The Trusted Execution Environment (TEE) and the carrier subscriber identity module (SIM). The solution provides an additional layer of protection for private keys even if one of the systems is compromised and ensures that users remain in control of their private keys.
The companies will demonstrate how their solutions integrate and work together at Mobile World Congress week in Barcelona, Spain on February 25-28, 2019. Showcasing how blockchain provides an innovative solution that dynamically changes how users interact with services, the companies are working to provide mobile subscribers with a safer and simpler solution for access to Web 3.0 services. The solution offers a new model for a fully integrated identity, privacy, payment and operational experience.
“Wanchain looks forward to working with these new partners to bring millions of new users to the blockchain powered future,” said Jack Lu, founder and CEO of Wanchain. “Together with our new partners, we will integrate to enable the mass market security and privacy that every user needs to have a safe and simple experience.”
“Wanchain provides a new model for data integrity transactions and privacy, which is an excellent complement to embedded mobile security,” said Steven Sprague, founder and CEO of Rivetz. “We look forward to delivering the foundations for provable consumer protections with every digital transaction.”
“At ElevenPaths, Telefónica’s Cybersecurity Unit, we are tasked with creating disruptive innovation in security, making the life of our clients safer. We are pleased to be working with partners to develop innovative core technology to protect user’s identities, sensitive information and digital assets,” said Pedro Pablo Perez, CEO at ElevenPaths and Global Director of Security at Telefónica.
Rivetz’s best-in-class security solutions hinge upon access to the Trusted Execution Environment (TEE), which is an isolated, measured computer environment separate from the operating system. By provisioning all digital transactions through the TEE, Rivetz assures that users’ private keys cannot be altered or stolen if the operating system were tampered with or infected by malware.
At ElevenPaths, Telefónica Cyber Security Unit, we believe in the idea of challenging the current state of security, an attribute that must always be present in technology. We’re always redefining the relationship between security and people, with the aim of creating innovative security products which can transform the concept of security, thus keeping us one step ahead of attackers, who are increasingly present in our digital life.