Blockchain-based identity management ecosystem enters telecom industry, signaling continued growth and adoption of verifiable digital identity
BARCELONA – Feb. 22, 2018 – ShoCard, a blockchain-based identity management (IM) ecosystem, today announces its entrance into the telecom industry with its partnership with BubbleTone, the first blockchain-based ecosystem for telecom. The partnership integrates ShoCard’s market-leading digital identification solutions into BubbleTone’s product offerings to provide advanced authentication for the global telecom ecosystem.
BubbleTone’s blockchain-based platform bypasses expensive international roaming, instead directly connecting mobile operators and travelers. This allows subscribers to buy mobile plans from the local network provider at local rates. For wireless providers, this eliminates the need to establish and maintain costly inter-operator roaming agreements, which are the primary reason for high retail roaming prices. Direct connection by a foreign traveler to the local mobile network is made by downloading the mobile operator’s profile to the customer’s SIM-card.
Using ShoCard’s patented solution, BubbleTone is now able to securely and verifiably authenticate the end user’s digital identification. ShoCard uses public and private key encryption and data hashing to safely seal and exchange identity data on the blockchain. The user’s private information is never stored outside of their mobile device. The foreign operator verifies that the data provided by the subscriber matches the sealed record, proving that the subscriber has the same private keys that created the records. Once the user is identified, they can directly buy not only tariff plans, but any type of value-added service from participating providers.
“This highly scalable identity management solution allows the sharing of digital identity globally without sharing personal data, thus maintaining user privacy,” says Yury Morozov, founder and CEO of BubbleTone. “ShoCard provides powerful security combined with ease of use, and on the BubbleTone platform, the customer connects directly to a service provider and approves transactions seamlessly.”
ShoCard provides the highest level of security for innovative platforms. The company already handles user identification for industries where safe authentication is critical, including credit card network operators, financial institutions and airlines.
“BubbleTone has harnessed the power of blockchain to reinvent the way we think of and interact with the telecom industry,” said Armin Ebrahimi, founder and CEO of ShoCard. “As another blockchain-based company, we’re excited to harness the same underlying principles of the technology to provide secure identity authentication for BubbleTone.”
For more information on ShoCard or to request a demo, visit https://shocard.com.
BubbleTone is a brand of Clementvale Ltd, Ireland, a blockchain-based platform that allows direct connection between subscribers, mobile network and service providers. This eliminates the need for excessively expensive international roaming and open a new revenue stream for mobile companies. www.bubbletone.io
ShoCard, Inc., based in Cupertino, Calif., is a mobile-identity platform built using blockchain technology that provides a simple and intuitive mobile application for definitive authentication while protecting users’ privacy. This allows for a variety of use cases, such as repeat authentication, true-digital signature with non-perishable audit-trail, transaction authorization to prevent fraud, frictionless login services without username/passwords, and user authentication in financial transactions, travel, health, government and industries where digital identity matters. www.shocard.com
Uproar PR for ShoCard