“We can now put a tiny computer chip with cryptographic identity into a slim adhesive seal strip form factor to secure a package,” said one of our software engineers, Maksym Petkus, “enabling mathematically- and cryptographically-closed loop integration with the blockchain and secure high-value assets with this tamper-evident technology.”
Today, at the ID Tech Expo in Santa Clara, we announced the release of our CryptoSeal prototype, representing a major step forward in immutable supply chain provenance and the secure movement of physical assets.
What is a CryptoSeal?
The first in what will be a line of blockchain-registered and tamper-evident hardware products, CryptoSeals each contain a Near Field Communication (NFC) chip embedded with unique identity information. This identity data is then immutably registered and verified on a blockchain (we currently offer support for Ethereum and plan to expand to other blockchains, including Bitcoin, Zcash, Hyperledger, and Symbiont).
The tamper-evident form factor, developed in collaboration with Cellotape Smart Products, registers not only the identity of an object onto the blockchain, but also records the identity of its registrant and packaging or asset metadata. And, 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.
Why do you need a blockchain?
Our CEO, Ryan Orr, likes to compare the CryptoSeal to the King’s Signet Ring: “you can think of it like the old system of the 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.”
Who can benefit from using CryptoSeals?
Our CryptoSeals can be affixed to any physical item, guaranteeing its identity and authenticity in an unforgeable way. There are more than a handful of business use cases for our new product, which combines the best of blockchain technology and Internet of Things (or Everything, as we like to call it): medical equipment, fine art, electronics, cold chain, and forensic evidence tracking, to name a few. Individual consumers also benefit in being able to verify and protect their artistic creations, secure luggage, ship high-value items internationally, as well as prove authenticity of items they buy and sell on secondary markets.
One of the most exciting use cases of the CryptoSeal for us at Chronicled is 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, associated with fraudulent pharmaceuticals necessitates new solutions for tracking authenticity. According to Interpol, Operation Pangea, their pharmaceutical investigation, seized 2.4M fraudulent pills in 2011; four years later, in 2015, that skyrocketed to 20.7M.
The estimated monetary value? $81M USD.
We can directly address this problem. Chronicled’s CryptoSeals can be customized to fit and seal shipments of pharmaceuticals, including individual 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-with pharmaceuticals.
When will CryptoSeals be available?
Our CryptoSeals will begin entering the market late this year with standard offerings and unique solutions, with customizable sizing and adhesives, for clients.
You can learn more on our website or contact us! And, to stay up to date with our work, sign up for our mailing list below.