Nigerian start-up secures patent for blockchain authentication
Hyperspace Technologies Limited has secured a patent for blockchain technology-driven Multi-Factor Authentication (MFA).Developed within Hyperspace Technologies’ research and development (R&D) division, cipherKEY tap2sign MFA is 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
Dr. Oluseyi Akindeinde has been credited as the inventor of this MFA and 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.
The patent application was officially filed on June 22, 2023, and the patent certificate, sighted by our reporter, indicates that it was granted on August 28, 2023.
In the age of digital transformation, security is paramount. As individuals, businesses and nations increasingly rely on digital platforms for everything from banking to social networking, the need for robust security measures has never been more critical.
One such measure is MFA, a security system that requires more than one method of authentication from independent categories of credentials to verify the user’s identity.
Akindeinde’s inspiration for creating this MFA stemmed from his advocacies for blockchain technology-driven authentication processes.
“In a world where our digital identities are increasingly under threat, where a single misstep can compromise your entire network, where every transaction we make leaves us vulnerable, we understand your concern. We understand the sleepless nights. And that’s why we’ve spent years developing cipherKEYtap2sign™ MFA – your ironclad solution to security threats.
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