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TNS Raises $9M Series A Via Security Token To Secure the IoT Supply Chain

By December 21, 2022No Comments

Tuesday, December 20, 2022 — Carlsbad, CA –Total Network Services (TNS) announces a $9M Series A fundraise for its Universal Communication Identifier (UCID™). The round, led by Thomas Carter and Deal Box Ventures, will further TNS’ mission to simplify, standardize, and secure the emerging blockchain economy.

UCID™ is the world’s first blockchain-enabled service for supply chain security, device management, software licensing, and equipment tracking. UCID™ is a tokenized/blockchain version of the identification number of any network connected device. It is connected to a unique, patented geo-location and geo-fencing technology that gives exact coordinates of a given managed device. UCID™ monitors and records data using cryptographically protected distributed ledger technology, along with the uniquely valuable proof of location data provided by Rypplzz’ patented geo-spatial platform.

“Key security requirements such as authorization, authentication, trust, confidentiality, data security, and non-repudiation must be carefully addressed in the future IoT networks as they are currently being exploited to the tune of billions of dollars.” CEO of TNS, Thomas Carter. The paradigm shift of wireless technologies and M2M communications has led to the massive number of devices connected to communication networks in the IoT and increase in security threats which pose new security issues. Security issues include malicious code attacks, inability to receive security patches, hacking into smart meters, eavesdropping, sniffing attacks and Denial of Service (DoS) attacks.

Security is a fundamental challenge confronting the vision of the IoT because of the heterogeneity of devices, physical accessibility to actuators, sensors and objects, and most especially the openness of the systems which are connected to the Internet through a wireless communication medium.

UCID™ provides real-time verification of connected devices and authorized usage. Relevant vulnerabilities at a user-specified severity level can be automatically detected and recorded using both the National Vulnerability Database and Common Vulnerabilities and Exposures feed, listed in a specified UCID™ field, and be immediately flagged for action as specified by the organization’s change management process.

Core to TNS’ success with UCID™ has been going the standardization route. TNS approached the Telecommunication Industry Association (TIA) with the concept to tokenize their globally adopted identification system, Mobile Equipment Identifiers, or “MEIDs”. TIA responded positively and TNS subsequently joined the comity to help design their latest supply chain security standards. As a result, UCID™ now meets five out of the eleven standards as laid out by TIA’s SCS-9001.

Carter on TNS’ approach, “We were able to secure the largest implementation of blockchain technology into the US government via Forward Edge AI in large part because of our standards approach and working with groups like TIA and GSMA. We’re not trying to reinvent the wheel entirely, just make some key upgrades.”

Thomas Carter, CEO of Total Network Services Corp “TNS”, on LinkedIn and Instagram. Learn more about UCID at https://www.ucidentifier.io/.

Thomas@tnscorp.io

SOURCE: Total Network Services

Thomas Carter

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