Nigerian startup secures second patent for blockchain technology
Hyperspace Technologies Limited, a Lagos-based web3 startup, has successfully secured its second patent and trademarks for its blockchain-based contactless product authentication and verification system.
The innovation known as cipherCHIP tap2verify was developed within the Hyperspace Technologies Limited research and development division. It offers a novel approach to product authentication by integrating Near Field Communication (NEC) tags, Non-Fungible Tokens (NFTs), and blockchain technology.
Hyperspace Technologies Limited specialises in next-level smart security infrastructure and key management systems. The cipherCHIP tap2verify, whose invention was led by Oluseyi Akindeinde, is expected 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 trademark for cipherCHIP tap2verify was granted on October 20, 2023, under the Class of Scientific, nautical, surveying, electric, photographic, cinematographic optical, weighing, measuring, signalling, 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.
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The lead inventor of the MFA, Dr. Oluseyi Akindeinde, commented on the journey to securing the patent and trademark and 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,” Akindeinde averred.
Akindeinde posited that cipherCHIP tap2verify offers a groundbreaking solution to product authentication challenges. He added that seamlessly integrating NFC tags, NFTs, and blockchain provides an unbreakable chain of trust from manufacturers to consumers.
Chidimma Gold
