Telefonica, Blockchain Startup Team Up to Secure Smartphone Apps

Spanish telecoms giant Telefonica has partnered with security technology startup Rivetz to develop smartphone security solutions for blockchain-based transactions and messaging, the companies announced on Thursday.

The partners will combine Telefonica's network security services with Rivetz's blockchain and trusted-computing technologies to explore decentralized solutions for security and data controls.

"Blockchain access and secure messaging are core building blocks to automating the user experience when it comes to digital services," Rivetz CEO Steven Sprague said in the statement.

Rivetz and Telefonica cited the growing body of projects related to blockchain and the internet of things as the impetus for the partnership, noting that Rivetz's technology has been in beta since January of this year.

The partners will merge their "Enhanced" version of the tech with Rivetz's current app developer and plan to offer the product to chosen partners by June.

Neither Rivetz nor Telefonica is new to the blockchain space.

This week Telefonica announced that it had joined a blockchain settlement trial for the telecoms industry led by Colt Technology Services and PCCW Global.

Rivetz has been involved in the industry since 2014,the firm when it started developing cybersecurity protection for bitcoin wallets.

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