Identiv Partners with Chronicled, Inc. in Rapidly Growing Wearables IoT Market
FREMONT, Calif., August 20, 2015 — Identiv, Inc. (NASDAQ: INVE) today announced that it has partnered closely with Chronicled, Inc. to develop wearable sensors — or SmartLabels — to protect against counterfeiting of consumer goods. Chronicled eliminates knock-off sneakers from the market by tracking authenticity, ownership, and provenance of brand name shoes.
Chronicled worked with Identiv Labs to develop a solution that validates each sneaker with innovative, high-security technology including NFC, Bluetooth, and digital certificates, integrated into a tamper proof SmartLabel. Chronicled joins more than 30 existing Identiv Labs customers who have partnered to bring their products to the Internet of Things (IoT).
"As a $1 billion market, collectible sneakers are at risk for rampant counterfeiting,” said Maurizio Greco, Chronicled CTO. “To combat fakes and re-instill trust and confidence, Chronicled is working with Identiv to create a 100-percent authenticated consumer platform. We plan to expand the use of authentication to other premium consumer goods, combating the more than $250 billion in counterfeit goods sold globally each year."
The solution combines Identiv’s expertise in identity verification through digital certificates and purpose-built secure hardware, establishing secure objects with a trusted SmartLabel for each item. Chronicled’s identity for products is paired with a consumer mobile application, allowing users to check authenticity, track products as they are resold, and understand the full item history. The Chronicled platform will be supported by an open-source registry upon which developers, partners, and third parties can build.
“Consumers no longer trust a simple printed label as a basis of authenticity, reducing trust and confidence in brand names,” said Jason Hart, Identiv CEO. “SmartLabels are the next evolution — the appearance of the product is not adversely affected as the sensor is small and can be hidden — and consumers can be confident that what they are purchasing, wearing, and reselling is authentic. We’re excited to be partnering closely with Chronicled to deliver the complete solution.”
Chronicled plans to launch its authenticated consumer platform utilizing SmartLabels near the end of 2015 and is initially targeting more than 15,000 pairs of sneakers.
Identiv is a global security technology company that establishes identity in the connected world, including premises, information, and everyday items. CIOs, CSOs, and product departments rely upon Identiv’s trusted identity solutions to reduce risk, achieve compliance, and protect brand identity. Identiv’s trust solutions are implemented using standards-driven products and technology, such as digital certificates, trusted authentication, mobility, and cloud services. For more information, visit identiv.com.
Identiv Labs is the company’s research and design hub that supports next generation products built on the foundation of identity, security, connectivity, and mobility. The goal of Identiv Labs is to partner with customers to accelerate their products into the connected world of the IoT. Find out more at identivlabs.com.
Chronicled, Inc. is a technology company based in San Francisco and founded in September of 2014. The company is currently developing a platform for 100% authentic products to be tagged, registered, verified, and traded from a mobile app. The Chronicled platform incorporates SmartLabels, an open registry, and a mobile app to document and guarantee product authenticity, ownership, and provenance. Chronicled will begin rolling out its consumer product in selected U.S. cities in the fall of 2015. For more information, visit chronicled.com.
Chief Product Officer