Hyperspace acquires patent over blockchain technology.

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

According to the firm, the cipherCHIP tap2verify” system presents a novel approach to product authentication by integrating near-field communication tags, non-fungible tokens, and blockchain technology.

The lead inventor of the MFA, Oluseyi Akindeinde, said in a statement that the firm was 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.

He said the startup had in August secured a patent for cipherKEY tap2signTM MFA (Multi-Factor Authentication), a next-generation security system designed to leverage the decentralised nature of blockchain.

“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,” Akindeinde said.

He highlighted its potential to revolutionise 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 offered 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.”