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SoftBank Pairs with Cloudminds for Blockchain Authentication Solution

Robotics company Cloudminds has teamed up with Japanese investment powerhouse and telecommunications company, SoftBank to develop a highly robust authentication solution using blockchain technology, according to an announcement today.

The solution enables users to log into websites without using their ID and password. It authenticates users by associating them with their mobile phones and records this data as a single entity on the blockchain. The two companies have combined CloudMinds’ device authentication and Softbank’s user authentication to create it.

The solution uses an SDP protocol for the authentication process which results in a strong defence against DDoS attacks, according to a statement. The framework is aimed at providing a robust foundation for universal identity management. A further statement highlights the challenges involved in device onboarding, service authorization and network connection processes.

Takeshi Fukuizumi, Vice President of SoftBank, stated: “I believe that our collaboration with CloudMinds will make substantial progress in authentication of Fintech and IoT device and service management. The CloudMinds authentication solution is based on a universal security framework, therefore, it can be applied to payment service which requires high security.”

Cloudminds, which develops cloud-based AI solutions for robots was founded in 2015. Its Permissioned Chain (CMPC) technology uses Legitimate Proof-of-Work (LPoW) to validate transactions. The company claims that this ensures a stronger defense against 51% attacks, which have recently attacked several major cryptocurrencies.

The authentication solution is designed to work for enterprise applications such as the Identity of Things (IDoT). IDoT allows for intelligent devices to be connected through a universal identity management platform. This means that any intelligent device is able to authenticate another device on the network. The CMPC technology also allows for a hierarchical structure of connected devices.

In September 2016, SoftBank acquired Arm, the global supplier of technology used in computing chips. In the same year, 17.7 billion chips using Arm technology were shipped across the world. The company’s CEO Masayoshi Son has said, in his CEO message, that Arm-based chips will be in running shoes, glasses and milk containers. Son is also a keen investor in robotics startups and will now have blockchain-based systems to add to the Softbank war chest.

image by Gerd Altmann. CC BY 2.0

Tim Copeland
Tim Copeland is an NCTJ qualified journalist working in London and writing in the cryptocurrency space.
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