Chronicled Launches CryptoSeal for Packaging, Physical Assets, and Supply Chain
SAN FRANCISCO, Nov. 16, 2016 /PRNewswire/ -- Chronicled, Inc. today announced the release of their CryptoSeal prototype at the ID Tech Expo in Santa Clara, CA, representing a major step forward in immutable supply chain provenance and the secure movement of physical assets.
The tamper-evident CryptoSeals each contain a Near Field Communication (NFC) chip embedded with unique identity information, which is immutably registered and verified on a blockchain. The tamper-evident form factor for the CryptoSeal was developed in partnership with Cellotape Smart Products, a 70 year old Newark, CA based manufacturing company. In addition to an object's identity, the Seal also records the identity of its registrant and packaging or asset metadata to the blockchain.
"We can now put a tiny computer chip with cryptographic identity into a slim adhesive seal strip form factor to secure a package," said software engineer Maksym Petkus, "enabling mathematically- and cryptographically-closed loop integration with the blockchain, and securing high-value assets with this tamper-evident technology." With their customizable size, allowing application to a variety of packages from envelopes to shipping containers, CryptoSeals have the ability to securely verify sender identity and timestamp shipment deliveries, and provide a secure chain of custody in the supply chain.
"We are excited to be working with the team at Chronicled. We see potential to combine our expertise in materials, adhesives, engineering, and printed electronics with Chronicled's expertise in blockchain and IoT to create solutions for the packaging, shipping, logistics, and product authentication markets," said Tim Daly, President at Cellotape Smart Products.
Exciting use cases for the CryptoSeal include pharmaceutical tracking, where a secure chain of custody and immutable provenance are needed but often lacking. The high monetary value, along with the human suffering, of fraudulent pharmaceuticals necessitates new solutions for tracking authenticity. Chronicled's CryptoSeals can be customized to fit and seal shipments of pharmaceuticals, including individuals cartons and containers. If the antenna in the adhesive seal is broken at any time, it will be impossible to verify the chip inside the CryptoSeal, ensuring that patients have confidence when they receive legitimate, untampered pharmaceuticals.
According to Chronicled CEO Ryan Orr, "you can think of the CryptoSeal like the old system of the King's Signet Ring stamping a wax seal on a letter. The signet holder is analogous to the registrant of the CryptoSeal, the wax to the chip inside of the seal, and the stamping of the signet is like the signing of the CryptoSeal to the Blockchain. On its own each component, from the cryptographic chips to the tamper evident seals and blockchain registration, is necessary but insufficient to solve the problem. Together the three technologies create a strong solution."
Additional business cases for high-value asset verification and supply chain provenance include medical equipment, fine art, electronics, cold chain, and forensic evidence tracking. Chronicled CryptoSeals can also benefit individual consumers, from marking artistic creations to securing luggage to ship high valuable items internationally, a CryptoSeal can be affixed to any physical item, guaranteeing its identity and authenticity in an unforgeable way.
Chronicled CryptoSeals will begin entering the market late this year with standard offerings and unique solutions, with customizable sizing and adhesives, for clients.About Chronicled Chronicled, Inc. is a blockchain and IoT technology company based in San Francisco. Chronicled is developing turnkey solutions enabling physical property to be securely linked to a blockchain for authentication, e-commerce, provenance, supply chain, and finance related use cases. The company has published an open source protocol for the Internet of Everything (IoE) at Chronicled Open Source. Building on top of that protocol, Chronicled's proprietary platform, comprising of hardware and software components, enables development of consumer and enterprise applications for physical goods, devices, machines, and product packaging.
Chief Product Officer