Quantum Base, a leader in the field of quantum security, and iov42, a pioneering blockchain operating platform, plan to collaborate on a blockchain-based quantum fingerprinting solution for product authentication and verification. This solution is designed to benefit every sector of the market, including brands, authentication platforms, and marketplaces.
The joint solution will leverage iov42’s secure, interoperable, and scalable blockchain operating platform and Quantum Base’s unique quantum identification technology, which can be read with a standard smartphone. Bringing these cutting edge technologies together will offer a customer-friendly, tamper-resistant proof of authenticity that achieves an inextricable link between physical products and the immutable, digital records of their provenance.
This next generation product authentication solution is a first-of-its-kind approach to combating the growing global counterfeit industry, which is estimated to reach a volume of up to 2.8 trillion USD by 2022. The solution enables customers to tag their products with Quantum Base’s unique quantum identities that cannot be copied, simulated, or otherwise corrupted. Certified records of each product’s authenticity and unique identifier are immutably and transparently stored on iov42’s distributed ledger. End users are able to verify product authenticity with a standard smartphone application, ensuring ease of use.
“We are very excited to be working with Quantum Base. Integrating their game-changing work in quantum security with the smart functionality of our DLT operating platform solves a persistent market challenge of securely linking the physical and the digital worlds. This collaboration marks an exciting development for iov42, as it will enable us to offer our customers the premier solution in product authentication and, ultimately, brand protection.”
— Dominic von Trotha Taylor, CEO, iov42
“Working with iov42 to develop the world’s first quantum secure blockchain solution is a fantastic opportunity for our companies to provide the highest levels of trust across iov42’s core DLT technology infrastructure. Through our Q-ID® unique quantum identity solutions, we are committed to harnessing the combined technological and scientific strengths our organisations have to create the next generation of global product security.”
— Phill Speed, CEO and Co-Founder, Quantum Base
About Quantum Base
Quantum Base is a world leader in the field of quantum security. Driven by excellence in quantum scientific discovery and its commercial application to global security issues, they invent, design, and develop mass producible quantum security solutions and devices at the nanoscale. Their portfolio of patented products are based on quantum mechanics rather than mathematical complexity, ensuring 100% secure digital information.
iov42 was founded in 2016 with the vision of harnessing the power of distributed ledger technology (DLT) to completely transform B2B, B2C, and B2G relationships. With this vision, iov42 built its DLT operating platform from the ground up, guaranteeing that it can: provide the identity and asset tools necessary for generating real world value; eliminate the technical complexity associated with effectively leveraging blockchain technology; and meet the wide-ranging demands of businesses and governments.
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