OSLO, Norway--(BUSINESS WIRE)--
Thin Film Electronics ASA (“Thinfilm”) (OSE:THIN.OL; OTCQX:TFECY) today announced that it is partnering with brand protection and document-security leader Holoptica in efforts to deliver a new printed nanotechnology anti-counterfeiting solution to a range of government markets.
The solution, featuring a hybrid SpeedTap™/hologram tag supported by powerful cloud-based software, was designed to protect government-issued documents such as visas, passports and other identification-based credentials and will aid in efforts to combat widespread counterfeiting around the world.
The SpeedTap/hologram tag provides a combination of high-security holography and Near Field Communication (NFC) technology that delivers several layers of protection and authentication functionality. The end result is the ability to create documents that are not only unforgeable, but can be rendered completely invalid and unusable in the event of theft. The NFC chip in the SpeedTap tag essentially makes each physical document “smart”, giving government officials and consumers the ability to instantly connect to its certified digital twin and verify authenticity with the simple tap of a smartphone. In addition, the slim profile of the chip allows for seamless document integration and eliminates noticeable bumps that affect performance and impede reliability.
The counterfeiting of documents such as work permits, passports, and visas is a growing global concern, and the market for illicit documents sold on the black market is estimated to generate more than $10 billion annually. The mounting financial losses have prompted many governmental bodies to take action and implement formal programs – many of which leverage innovative technologies – to mitigate fraudulent practices.
“Combining Thinfilm’s SpeedTap tags with Holoptica’s high-security COMPASS/holoQR/DNA SmartMark hologram creates a highly effective yet economical solution in the fight against counterfeiters,” said George Perkous, Holoptica’s CEO. “The broader counterfeiting market generates roughly $600 billion annually, and we’re excited about the role these innovative tags can play in effectively addressing the document security needs of governments and related authorities around the globe.”
Thinfilm’s SpeedTap tags are thin, flexible devices that can integrate with a document’s or product’s packaging and can be read with the tap of an NFC-enabled smartphone. Each tag is uniquely identifiable and is virtually impossible to clone. Once tapped, the tag wirelessly communicates with the cloud, enabling brands or regulatory groups to connect directly with end-users and instantly deliver authentication messaging, serial numbers, product information, and other relevant content.
“Document fraud costs governments and businesses billions of dollars each year and directly contributes to the growth of global terrorist activity,” said Davor Sutija, CEO of Thinfilm. “We’re pleased to work with Holoptica in delivering a comprehensive anti-counterfeiting solution that strengthens ID-based document programs and helps create safer environments worldwide.”
About Thin Film Electronics ASA
Thinfilm is a leader in printed electronics and NFC smart packaging solutions. The first to commercialize printed, rewritable memory, the Company today creates printed tags, labels and systems that include memory, sensing, display, and wireless communication – all at a cost-per-function unmatched by conventional electronic technologies. Thinfilm’s roadmap integrates technology from a strong and growing ecosystem of partners to bring intelligence to everyday items and effectively extend the traditional boundaries of the Internet of Things.
Thin Film Electronics ASA (“Thinfilm”) is a publicly listed Norwegian company with headquarters in Oslo, Norway; product development and production in Linköping, Sweden; product development, production, and business development in San Jose, California, USA; and sales offices in the United States, Hong Kong, and Singapore. For more information, visit www.thinfilm.no.
About Holoptica
Holoptica is a global provider of holograms, DNA markings and on-line mobile device verification and authentication systems specifically designed to combat counterfeiting and the illicit use of brands and documents. The firm’s proprietary technologies provide companies and governments with innovative and cost effective programs against the fraudulent replication and distribution of products and documents. Established in 2011, Holoptica has offices in the US (Silicon Valley), the UK, and Australia.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act).
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