Connect with us

    Hi, what are you looking for?

    Tech

    Oluseyi Akindeinde of Hyperspace Secures Patent for Blockchain-driven Authentication System

    Dr Oluseyi Akindeinde
    Dr Oluseyi Akindeinde

    Hyperspace Technologies Limited has secured a patent for Blockchain technology-driven Multi-Factor Authentication (MFA).

    Developed within the Hyperspace Technologies’ research and development (R&D) division, cipherKEY tap2sign™ MFA is 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

    Dr. Oluseyi Akindeinde has been credited as the inventor of this MFA that 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.

    The patent application was officially filed on June 22, 2023, and the patent certificate, sighted by our reporter, indicates that it was granted on August 28, 2023.

    In the age of digital transformation, security is paramount. As individuals, businesses and nations increasingly rely on digital platforms for everything from banking to social networking, the need for robust security measures has never been more critical.

    One such measure is Multi-Factor Authentication (MFA), a security system that requires more than one method of authentication from independent categories of credentials to verify the user’s identity.

    Today, Hyperspace Limited has introduced cipherKEYtap2sign™, a groundbreaking MFA technology that leverages the security of public/private keys, blockchain, Web3 technology, and contactless Near Field Communication (NFC) cards.

    It utilizes the concept of “proof of possession” and a fourth factor of authentication – “something you do”.

    In the case of cipherKEY tap2sign™, “something you have” is the cipherKEY NFC card, and “something you do” is the action of tapping the cipherKEY NFC card against your phone.

    This unique combination of factors makes thetap2sign™ system incredibly secure and user-friendly.

    Before securing the patent, the Blockchain technology-driven MFA was subjected to rigorous reviews and tests.

    Dr. Akindeinde’s inspiration for creating this MFA stemmed from his advocacies for blockchain technology-driven authentication processes.

    “In a world where our digital identities are increasingly under threat, where a single misstep can compromise your entire network, where every transaction we make leaves us vulnerable, we understand your concern. We understand the sleepless nights. And that’s why we’ve spent years developing cipherKEYtap2sign™ MFA – your ironclad solution to security threats.

    “Imagine a wall. A wall so high and so robust, nothing unauthorized can get over it, under it, or through it. That wall is the cipherKEY tap2sign™ MFA, and we’ve designed it to protect what matters most to you – your identity, your data, your peace of mind”, he said.

     

    Spread the love
    Click to comment

    Leave a Reply

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

    ad

    You May Also Like

    Oil and Gas

    Leading oil and gas experts in Nigeria have called for the full adoption of digital technologies to overcome the complex challenges facing the country’s...

    News

    Russia’s Finance Ministry announced on Wednesday, September 24, that it plans to raise the country’s value-added tax (VAT) to help finance the ongoing war...

    Tech

    Lagos State has reaffirmed its position as Africa’s leading technology and innovation hub following the successful hosting of the GITEX Nigeria Tech Expo, Future...

    News

    The United States has reversed its visa restrictions on Ghana after the West African country agreed to accept west Africans deported by the United...