Hyperspace Technologies Limited has achieved a significant milestone by securing a second patent and trademarks for its cipherCHIP tap2verify. This innovative system integrates blockchain technology to provide contactless product authentication and verification.
The cipherCHIP tap2verify system represents a new approach to product authentication, incorporating near-field communication tags, non-fungible tokens, and blockchain technology.
Lead inventor of the MFA, Oluseyi Akindeinde, emphasized the company’s commitment to enhancing security systems. He highlighted the need for multiple methods of authentication from independent categories of credentials to verify user identity.
Earlier in August, the startup had secured a patent for cipherKEY tap2sign™ MFA, a next-generation security system designed to leverage the decentralised nature of blockchain.
On December 14, 2023, the patent certificate for cipherCHIP tap2verify was granted by the Industrial Property Office Registry, Commercial Law Department, Federal Ministry of Trade and Investment. The certificate was signed by Stella Ozo Ezenduka, the Chief Registrar, on behalf of President Bola Tinubu.
Akindeinde emphasized the potential of cipherCHIP tap2verify to revolutionize product provenance and authentication, particularly in addressing the increasing sophistication of counterfeiting.
He described how the system combines the unique identification capabilities of NFC tags with the immutable nature of blockchain technology, further enhanced by the uniqueness of NFTs.
Akindeinde added that cipherCHIP tap2verify offers a groundbreaking solution to product authentication challenges by providing an unbreakable chain of trust from manufacturers to consumers.