Connect with us

Hi, what are you looking for?

Cryptocurrency

Hyperspace Secures Another Patent for its Blockchain Technology, cipherCHIP tap2verify

Dr. Oluseyi Akindeinde, co-founder, Hyperspace Technologies Limited
Dr. Oluseyi Akindeinde, co-founder, Hyperspace Technologies Limited

Hyperspace Technologies Limited has secured its second patent and trademarks for cipherCHIP tap2verify: A blockchain-integrated contactless product authentication & verification system.

The Lagos-based Web3 startup specializes in next-level smart security infrastructure and key management systems.

Developed within the Hyperspace Technologies Limited’ research and development (R&D) division, “cipherCHIP tap2verify” system presents a novel approach to product authentication by integrating Near Field Communication (NFC) tags, Non-Fungible Tokens (NFTs), and blockchain technology.

Dr. Oluseyi Akindeinde, the lead inventor of the MFA, is poised to enhance a security system that requires more than one method of authentication from independent categories of credentials to verify the user’s identity.

Hyperspace Technologies Limited had in August this year secured patent for cipherKEY tap2sign™ MFA (Multi-Factor Authentication), a next-generation security system designed to leverage the decentralized nature of blockchain, the robustness of public/ private key cryptography, and the convenience of NFC (Near Field Communication) technology to provide an unprecedented level of security against identity theft, phishing, and social engineering attacks.

Meanwhile, the cipherCHIP tap2verify’s patent certificate 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.

On the other hand, 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 will be published in the trademark journal.

Commenting on the journey to securing the patent and trademark, the intricate workings of cipherCHIP tap2verify, Dr. Akindeinde highlighted its potential to revolutionize product provenance and authentication.

“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”.

He added that cipherCHIP tap2verify offers a groundbreaking solution to product authentication challenges.

By seamlessly integrating NFC tags, NFTs, and blockchain, it provides an unbreakable chain of trust from manufacturers to consumers.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

ad

You May Also Like

News

House of Representatives has resolved to probe the alleged unremitted N1.8 trillion and $342 million tax revenue owed to the federation by Multichoice Group....

Tech

Chukwuemeka Fred Agbata, CFA, MD/CEO of Anambra State ICT Agency, has championed a transformative approach to innovation in the civil service. His insights, shared...

Sports

Paul Pogba, former Manchester United midfielder, has reportedly been handed a four-year ban from football after failing a drugs test last August. The 30-year-old...

News

Mastercard and MTN Group Fintech have signed an agreement to provide all MTN MoMo customers with payment cards. In a joint statement on Thursday,...