Although mobile security protocols have become more stringent, there remains great room for improvement, given that the cybersecurity industry hasn’t tapped into the Trusted Execution Environment (TEE) in conjunction with blockchain technology.
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An exciting collaboration between Rivetz and Telefónica will lead to unparalleled mobile security protocols being deployed on the market. Rivetz is a pioneer in Trusted Computing for mobile, and Telefónica is one of the largest telecom service providers in the world.
Their solution proposes a dual encryption protocol, based on the already-existing Trusted Execution Environment built into billions of smartphones, alongside Telefónica’s advanced encryption SIMs. This decentralized model will provide users with better data controls and security. It is expected that the solution will improve a wide variety of consumer applications, such as digital currency wallets or messaging platforms.
In a recent statement, Sergio de los Santos, head of the Discovery and Innovation Lab at Telefónica’s Eleven Paths, mentioned that:
“Trusted computing technologies are not an end by themselves, but are an opportunity to improve mobile users’ security, providing a research and innovation framework in the context of cyber security.”
Some of the main advantages associated with leveraging the hardware-based TEE include but are not limited to:
- Testing business models, such as automating backup and recovery of personal identity information
- Split-key encryption protocols, for better protection of customer data and assets
- Blockchain-based solutions that allow better cybersecurity controls, and the ability for users to store cryptocurrencies directly on their smartphone’s hardware.
- Enhanced quality of transactions for blockchain networks
- Innovating in data compliance, information integrity, and assurance
Speaking of blockchain, Steven Sprague, CEO of Rivetz discussed:
“Blockchain access and secure messaging are core building blocks to automating the user experience when it comes to digital services. We’re honored to partner with Telefónica to explore how to fully leverage the embedded cyber security technologies of mobile to deliver next-generation data services and business models to enhance the quality of subscriber relationships.”