Hyperspace Technologies Ltd. Innovates CipherCHIP tap2verify for Enhanced Product Authentication Jan 10, 2024 Jan 10, 2024 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJanuary 10, 2024 by Kelly Cromley

Hyperspace Technologies Ltd. Innovates CipherCHIP tap2verify for Enhanced Product Authentication

In a significant development, Hyperspace Technologies Limited, a Lagos-based Web3 startup specializing in advanced smart security infrastructure, has recently obtained its second patent and trademarks for the cutting-edge “cipherCHIP tap2verify” system. This revolutionary product authentication and verification system, developed within the company’s research and development (R&D) division, showcases a groundbreaking approach by integrating Near Field Communication (NFC) tags, Non-Fungible Tokens (NFTs), and blockchain technology.

The lead inventor of this Multi-Factor Authentication (MFA) system, Dr. Oluseyi Akindeinde, highlights the necessity for a security system that mandates multiple authentication methods from independent categories of credentials to verify the user’s identity. The “cipherCHIP tap2verify” system is designed to address the escalating sophistication of counterfeiting in today’s era by combining the unique identification capabilities of NFC tags with the immutable nature of blockchain technology, further fortified by the distinctiveness of NFTs.

Commenting on the Achievements:

Dr. Akindeinde, emphasizing the intricate workings of the “cipherCHIP tap2verify” system, underscored its potential to revolutionize product provenance and authentication. He explained, “In an era where counterfeiting has become increasingly sophisticated, ensuring product authenticity is paramount. 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.”

Second Patent and Trademark Acquisition:

Hyperspace Technologies Limited had previously secured a patent in August for “cipherKEY tap2sign™ MFA,” a next-generation security system leveraging the decentralized nature of blockchain, the robustness of public/private key cryptography, and the convenience of NFC technology to enhance security against identity theft, phishing, and social engineering attacks.

The patent certificate for “cipherCHIP tap2verify” from the Industrial Property Office Registry, Commercial Law Department, Federal Ministry of Trade and Investment, was granted on December 14, 2023, and signed by Stella Ozo Ezenduka, the Chief Registrar on behalf of President Bola Tinubu. Additionally, the Trademark for “cipherCHIP tap2verify” was granted on October 20, 2023, under the Class of Scientific, nautical, surveying, electric, photographic, cinematographic optical, weighing, measuring, signaling, checking (Supervision), life-saving and teaching apparatus and instruments; apparatus for recording transmission in reproduction of sound or images; magnetic data carriers recording disc; automatic vending machines and mechanism for coin-operated apparatus; cash registers, calculating machines, data processing equipment and computers; free-extinguishing apparatus. It is set to be published in the trademark journal.

Unbreakable Chain of Trust:

The “cipherCHIP tap2verify” system seamlessly integrates NFC tags, NFTs, and blockchain, providing an unbreakable chain of trust from manufacturers to consumers. This innovative solution offers enhanced security measures against identity theft, phishing, and social engineering attacks, positioning Hyperspace Technologies Limited at the forefront of the evolving landscape of smart security infrastructure.

In conclusion, Hyperspace Technologies Limited’s recent achievements in obtaining patents and trademarks underscore its commitment to advancing secure technology solutions. The “cipherCHIP tap2verify” system represents a significant leap forward in product authentication, offering a robust and revolutionary approach to address the escalating challenges of counterfeiting in the modern era.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.