Yesterday Infineon Technologies unveiled SECORA, a blockchain security solution that uses an NFC cryptochip. By attaching it to a product of placing it behind a label, a user can scan the item to authenticate the product’s identity, which means SECORA is an anti-counterfeit solution. It also provides cards with the chip inbuilt, so it could be used for wallets or to store keys for blockchain or other solutions.
German-based Infineon has a market capitalization of more than €35 billion and this week reported sales for the year ending September 2020 of €8.6 billion. That was up seven percent year on year despite COVID-19.
One of the challenges of blockchain is linking the real and digital worlds. Data is stored via a blockchain and the identity is securely stored on the NFC cryptochip. The combination enables several applications, such as ensuring the product’s authenticity or simply tracing its sustainability. It could even be used for limited edition collectible items.
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