Revolutionizing Product Authentication: Nigerian Startup Hyperspace Secures Second Patent Dec 26, 2023 Dec 26, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsDecember 26, 2023 by Kelly Cromley

Revolutionizing Product Authentication: Nigerian Startup Hyperspace Secures Second Patent

In a significant stride towards enhancing product authentication and security, Nigeria-based startup Hyperspace Technologies Limited has successfully secured its second patent and trademarks for its cutting-edge contactless authentication and verification system. Developed within the company’s research and development (R&D) division, the recently patented “cipherCHIP tap2verify” introduces a pioneering approach to product authentication by seamlessly integrating Near Field Communication (NFC) tags, Non-Fungible Tokens (NFTs), and blockchain technology.

Innovative Approach to Authentication

Lead inventor Dr. Oluseyi Akindeinde unveiled the groundbreaking product during a disclosure to journalists in Lagos over the weekend. The system, named “cipherCHIP tap2verify,” represents a significant evolution in product authentication, incorporating NFC tags, NFTs, and blockchain technology. Dr. Akindeinde emphasized the product’s unique contribution to security systems, highlighting its ability to employ multiple methods of authentication from distinct credential categories to verify a user’s identity.

 

A History of Innovation

This recent achievement follows Hyperspace Technologies Limited’s earlier success in August of this year when they secured a patent for “cipherKEY tap2sign MFA (Multi-Factor Authentication).” This next-generation security system leverages the decentralized nature of blockchain, the robustness of public/private key cryptography, and the convenience of NFC technology. The combined features provide an unparalleled level of security against identity theft, phishing, and social engineering attacks.

Formal Recognition and Certification

The patent certificate for “cipherCHIP tap2verify” was officially granted on December 14, 2023, by the Industrial Property Office Registry, Commercial Law Department, Federal Ministry of Trade and Investment. The certificate, signed by Chief Registrar Stella Ozo Ezenduka on behalf of President Bola Tinubu, signifies formal recognition of the innovative strides made by Hyperspace Technologies Limited in the realm of product authentication and security.

Addressing Counterfeiting Challenges

Dr. Akindeinde, in his comments on the patent and trademark acquisition, emphasized the potential of “cipherCHIP tap2verify” to revolutionize product provenance and authentication, especially in the face of increasingly sophisticated counterfeiting practices. He highlighted the product’s unique features, combining NFC tags’ identification capabilities with the immutable nature of blockchain and further enhanced by the uniqueness of NFTs. This, he explained, provides a groundbreaking solution to the challenges posed by product authentication in a world where counterfeiting has become more sophisticated.

Pioneering Web3 Security Solutions

As a Lagos-based Web3 startup, Hyperspace Technologies Limited specializes in next-level smart security infrastructure and key management systems. The acquisition of patents and trademarks for “cipherCHIP tap2verify” underscores the company’s commitment to pushing the boundaries of innovation in the realm of product authentication, offering advanced solutions to the evolving landscape of cybersecurity threats.

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.