WISeKey International Holding Ltd, a cybersecurity IoT platform company, today announced that its WISeAuthentic solution for brand protection fully integrates Hyperledger Fabric. This integration aims to minimize counterfeiting and fraud by developing a trusted digital global blockchain ledger that includes the identity of the luxury object and tracks and protects any item of value.
Hyperledger is an open source collaborative effort created to advance cross-industry blockchain technologies. Hosted by The Linux Foundation, Hyperledger is a global collaboration of leaders in finance, banking, IoT, supply chain, manufacturing and technology. The blockchain technology reinforces the WISeKey patent, method and apparatus for digital authentication of valuable goods. The WISeKey patent uses strong digital identification and authentication, and combined with OISTE.ORG, allows objects on the Internet to be authenticated and monitored in real-time via trusted clouds.
WISeKey will deploy open-source Hyperledger technology and combine it with WISeKey PKI to bring it in line with the brand protection industry requirements. Using a trusted private blockchain in a closed user group environment, with strong cybersecurity technologies combined with IoT traceability on personal data controls will be strictly governed.
“WISeKey has long been recognized as a leader in providing luxury and other product manufacturers with reliable means to protect their brands against counterfeiting,” said Carlos Moreno, VP Corporate Alliances and Partnerships. “Combining the blockchain technology together with our WISeAuthentic PKI platform, leverage even further the unified way to shield these brands from the harmful effects of counterfeit products, while enhancing transparency into their end consumers and the entire ecosystem.”
Counterfeiting is a rampant and growing problem-currently the estimated worldwide market value of counterfeit goods exceeds $650 billion. The fraudulent sale of products luxury goods, textiles, wine and spirits, including pharmaceuticals, damage the revenues and reputation of targeted brands. Therefore, it is critical to continuously insure consumer confidence and increase the perception of trust. WISeKey offers a full range of anti-counterfeiting solutions that enable consumers and retailers to verify the authenticity of products before the purchase. This is achieved by scanning the label with a NFC (Near Field Communication)-enabled smartphone or device. Additionally, WISeKey solutions allow suppliers and brand owners to globally track their products and engage with consumers at the point of sale and beyond to build brand loyalty. To date, alternative anti-counterfeiting solutions have been largely ineffective because counterfeiters have been able to replicate or circumvent the security features meant to deter fraud. In a cost-effective manner, WISeKey offers the only anti-counterfeiting solution that is based upon Common Criteria (EAL4+) for object identification and FIPS 140-meaning the solution provides the same level of digital security trusted by banks, the U.S. Department of Defense and l’ANSSI in France. In other words, the consumer becomes the brand inspector!
The WISeAuthentic Blockchain platform integrates the WISeKey Semiconductors tags which are equipped with the company’s VaultIC NFC secure elements family. These tags, when placed on any product and tapped by an NFC phone, securely authenticate and track the product much like an embedded ePassport and confirm the identity of the product on the blockchain ledger.
WISeKey has been a pioneer in digital luxury product authentication since 2007. WISeKey’s expertise in the design of NFC secure chips allied with its WISeAuthentic original platform for the identification, authentication, tracking and customer engagement of goods, provides customer-fit solutions for brand protection. Through the WISeKey WISeAuthentic platform, now available for both Apple iOS11 and Android phones, the brands have the capability to directly reach the vast majority of their end-customers and enhance the efficiency of their marketing communication, while the intuitive functioning of the application enables users to secure their data with ease.