Wanchain Enters Telecom with Telefonica 📱💳
Wanchain Joins Telefonica's Elevenpaths to Provide Secure Mobile Blockchain Solutions
Wanchain has joined Rivetz, an industry leader in embedded, blockchain-based mobile security solutions, and ElevenPaths, Telefónica’s Cybersecurity Unit, in its 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.
About Telefónica
Telefónica is one of the largest telecommunications companies in the world by market capitalization and number of subscribers (272M mobile customers globally), with a comprehensive offering and quality of connectivity that is delivered over world-class fixed, mobile, and broadband networks. The company has a significant presence in 17 countries and over 356 million accesses around the world. Telefónica has a strong presence in Spain, Europe and Latin America, where the company focuses an important part of its growth strategy. Telefónica is a 100% listed company and its shares are traded on the Spanish Stock Market and on those in London, New York, Lima, and Buenos Aires.
About ElevenPaths
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.