Hyperspace Technologies Limited has achieved a significant milestone by securing its second patent and trademarks for “cipherCHIP tap2verify,” a cutting-edge contactless product authentication and verification system integrated with blockchain technology. The Lagos-based Web3 startup, specializing in advanced smart security infrastructure and key management systems, continues to make strides in the field of cybersecurity.
A Novel Approach to Product Authentication
Developed within Hyperspace Technologies Limited’s research and development (R&D) division, the “cipherCHIP tap2verify” system introduces a fresh perspective on product authentication. Dr. Oluseyi Akindeinde, the lead inventor, emphasizes the system’s uniqueness in requiring multiple authentication methods from independent credential categories to verify the user’s identity.
Building on Previous Success
This achievement follows the earlier success of the company’s patent for “cipherKEY tap2sign™ MFA (Multi-Factor Authentication),” secured in August of this year. The MFA system leverages blockchain’s decentralized nature, the strength of public/private key cryptography, and the convenience of Near Field Communication (NFC) technology. It aims to provide an unparalleled level of security against identity theft, phishing, and social engineering attacks.
Recognizing the Accomplishments
The patent certificate for “cipherCHIP tap2verify” was granted on December 14, 2023, by the Industrial Property Office Registry, Commercial Law Department, Federal Ministry of Trade and Investment. The certificate was signed by Stella Ozo Ezenduka, Chief Registrar, on behalf of President Bola Tinubu. Simultaneously, the Trademark for “cipherCHIP tap2verify” under the Class of Scientific, nautical, surveying, electric, photographic, cinematographic optical, weighing, measuring, signaling, checking (Supervision), life-saving and teaching apparatus and instruments was granted on October 20, 2023.
A Comprehensive System
Commenting on the significance of securing the patent and trademark, Dr. Akindeinde highlighted the transformative potential of “cipherCHIP tap2verify” in addressing the challenges of product provenance and authentication. In an era where counterfeiting has become increasingly sophisticated, ensuring product authenticity is paramount. Dr. Akindeinde stated, “cipherCHIP tap2verify addresses this challenge by combining the unique identification capabilities of NFC tags with the immutable nature of blockchain technology, further enhanced by the uniqueness of NFTs.”
Groundbreaking Solution to Authentication Challenges
He emphasized that “cipherCHIP tap2verify” presents a groundbreaking solution to product authentication challenges. By seamlessly integrating NFC tags, NFTs, and blockchain, it establishes an unbreakable chain of trust from manufacturers to consumers. This innovative approach is particularly crucial in the current landscape where counterfeiting poses a significant threat to product integrity.
In conclusion, Hyperspace Technologies Limited’s success in securing patents and trademarks for “cipherCHIP tap2verify” reflects the company’s commitment to advancing cybersecurity measures. The integration of NFC tags, NFTs, and blockchain technology in their authentication system signifies a paradigm shift in ensuring the authenticity of products, setting new standards in security and trust.
