Hyperspace Technologies Limited said it has successfully registered the second patent and trademarks for its blockchain-based contactless product authentication and verification system.

The innovation which is 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 is a Lagos-based Web3 startup that specializes 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.

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“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 said.

In August 2023, Hyperspace Technologies Limited secured the first 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 and private key cryptography, and the convenience of NFC technology to provide an unprecedented level of security against identity theft, phishing, and social engineering attacks.

The patent certificate for cipherCHIP tap2verify was granted on December 14, 2023, by the Industrial Property Office Registry, Commercial Law Department, Federal Ministry of Trade and Investment. The Trademark was granted earlier, on October 20, 2023, under the Class of scientific, nautical, surveying, electric, photographic, cinematographic optical, weighing, measuring, signaling, checking, life-saving, and teaching apparatus and instruments; apparatus for recording transmission in the 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-extingushing apparatus.