Telefonica starts the blockchain project to ensure cybersecurity of mobile apps

11 May 2018

TelefonicaTelefonica, a Spanish multinational broadband and telecommunications provider available for users in Europe, Asia, and North, Central and South America, announced the partnership with Rivetz over the introduction of smartphone security solutions designed for blockchain transactions and messaging.

The two companies will join their efforts and combine network security services from Telefonica along with blockchain and trusted computing technologies from Rivetz with a view to conduct research with decentralized solutions created for ensuring security and data control. Their partnership will be focused on upgrading the applications used for secure messaging and cryptocurrency wallets.

The official statement reports that the companies want their product to establish cybersecurity controls and protection required for holding a large number of cryptocurrencies, while at the same time ensuring protection of the digital currencies and processes on the hardware.

Besides, the partners plan to conduct research into the innovative methods to automate the process of backup and recovery of user identity details based on the existing mobile hardware security solutions.

Steven Sprague, CEO of Rivetz, notes: “Blockchain access and secure messaging are core building blocks to automating the user experience when it comes to digital services”.

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