Nigerian startup secures patent for blockchain tech product

A Nigerian startup, Hyperspace Technologies Limited, has secured its second patent and trademarks for its blockchain-integrated contactless product authentication and verification system.

Developed within Hyperspace Technologies Limited’ research and development (R&D) division, “cipherCHIP tap2verify” for which it was granted the latest patent, presents a novel approach to product authentication by integrating Near Field Communication (NFC) tags, Non-Fungible Tokens (NFTs), and blockchain technology.

Disclosing this to journalists in Lagos at the weekend, the lead inventor of the firm, Dr Oluseyi Akindeinde, said the new product 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.

Hyperspace Technologies Limited had earlier in August, this year, secured a 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/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.

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.

Commenting on the journey to securing the patent and trademark, the intricate workings of cipherCHIP tap2verify, Dr Akindeinde highlighted its potential to revolutionize product provenance and authentication.

“In an era where counterfeiting has become increasingly sophisticated, ensuring product authenticity is paramount, and 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 said. 

He added that cipherCHIP tap2verify offers a groundbreaking solution to product authentication challenges.

The Lagos-based Web3 startup specialises in next-level smart security infrastructure and key management systems.