Venture Block Pte. Ltd has partnered with RFID tech company ISBC Innovations (ISBC), based in Singapore to provide blockchain solutions to radio-frequency identification card products. This marks a milestone achievement for Venture Block in its push to expand its blockchain solutions to various industries in Southeast Asia.
Venture Block offers blockchain software solutions mainly targeting the financial and technology industries. Through the ISBC partnership, Venture Block aims to use its expertise in blockchain technology to enhance the products of ISBC.
“Blockchain has tremendous potential in improving our current processes and products,” says Nikita Kozhemiakin, Managing Director for ISBC Group. “Through our partnerships with Venture Block, we are looking forward to greatly enhancing the security and reliability of our products minimizing threats such as counterfeiting.”
Easily verifiable security for RFID products
The ISBC manufactures patented RFID paper products, access control, multifunctional wearables and security systems. The biggest security challenge it faces is counterfeiting and current anti-counterfeiting solutions on the market have been fallible due to reliance on centralised systems to verify authenticity.
Venture Block seeks to eliminate these challenges by adding RFID smart paper security hangtags, labels, and certificates that are verified through blockchain technology, a decentralised system, to provide an additional layer of security that is easily verifiable.
Drawing from in-depth industry knowledge and understanding the specific needs of clients, Venture Block is working on developing near-field communication (NFC) software platform for ISBC’s RFID Smart Paper products that provide unique URLs and identification codes that cannot be copied or reproduced.
A blockchain-based solution will also fortify the integrity of the RFIDs and provide other benefits integration to match an authenticated physical object with a digital blockchain asset, among many others.
Venture Block to apply blockchain solutions to other Singaporean industries
Having recently opened its doors in Singapore in March earlier this year, Venture Block is poised to expand even more and leverage Singapore’s local talent pool to not only provide a variety of solutions but also forge more partnerships with the region’s top companies.
“We’ve just scratched the surface of what we can do with blockchain technology. The more companies realize how this software solution can impact their growth, the faster we can come up with entirely new and better ways to improve our lives with this technology,” said Daniel Mackle, Founder of Venture Block.