US carriers want to replace your passwords, what could go wrong?

While AT&T, Verizon, T-Mobile, and Sprint are often battling for an edge over each other, the major US carriers have come together to create a new approach to password management as well as a more secure 2FA solution. Named Project Verify, the new collaboration has the goal of replacing individual passwords with an approach that offers more security and a simpler user experience.

Spotted by The Verge, Project Verify shared initial details on the effort today. The idea behind the new password management system is to utilize a variety of authentication details available to carriers to offer a single sign-on service so users don’t have to manage individuals account credentials. It will no doubt have to compete with popular password management solutions like 1Password and Dashlane and Apple’s AutoFill feature.

Project Verify will use the following for its multi-factor authentication with mobile devices:

• Phone number
• IP address
• SIM card details
• Phone account type
• Account tenure

Project Verify also says that it can be used as a 2FA solution, which could help provide users more security than existing options like SMS or email 2FA. The service would work via an app where users can manage all of the accounts that are linked to the authentication platform.

Notably, with customer satisfaction and trust of carriers notoriously low across the board, Project Verify may have some serious work ahead to convince consumers to choose its platform as the primary vault of their digital lives. Also, while there are certainly conveniences to a single sign-on solution, the risks could be huge in the event of a breach.

No timeline has been shared yet for a potential release. Check out the video below for more. How about you? Would you consider using a service like this?