February 21, 2013 -
LaserLock Technologies has filed a provisional patent applications for a Characteristic Verification System (CVS) which allows smart phones to simultaneously identify counterfeit products and protect against identity fraud.
The CVS features LaserLock’s recently acquired VerifyMe biometric authentication technology, which powers this new system. According to the company, VerifyMe uses a variety of methods to quickly and accurately prove the identity of any human being. It can also uniquely serialize individual products allowing complete verification of provenance, pedigree and movement.
LaserLock currently provides authentication solutions to governmnets, pharmaceuticals, high-end retailers and casinos.
“LaserLock’s new CVS provisional patent application is uniquely well-suited to take advantage of the increasing demand for more effective, more economical and more efficient authentication technology along supply chains,” Neil Alpert, President of LaserLock Technologies said. “This provisional patent application is a game-changer for our company and our industry.”
Though the company is scant on details, it says the CVS uses technology present in virtually all smartphones, including integrated cameras and artificial light sources to capture both overt and covert anti-counterfeiting measures to verify the identity of the person performing an action.
LaserLock will be releasing VerifyMe applications for Android, BlackBerry, iOS and Windows mobile devices.
Earlier this year, LaserLock initially raised $4.2 million through a private placement to accredited investors.