Danish entrepreneur invents RFID chip which safeguards user information  

2005.04.13
Danish entrepreneur Stephan Engberg has invented a chip solution for RFID technology which safeguards information about the user, and now seeks venture capital to start production

The development of RFID (Radio Frequency Identification) technology has turned into a burning issue among human rights organisations concerning the privacy of the individual; for example a person leaving a pharmacy with an RFID-tagged pack of prescription medicine for a sensitive disease could be open to having the information intercepted and read by others. But now Danish entrepreneur Stephan Engberg has invented a chip solution for RFID technology which safeguards information about the user.

 

Stephan Engberg has used 5 years to develop the new chip, RFID-SEC, in his company Open Business Innovation. The security technology of the chip has been scientifically tested, and the inventor has been in contact with potential customers and interested sub-suppliers. He currently needs about DKK 37 mn (USD 6.5 mn) in venture capital to start up production of the chip.

 

"The market is so astronomic that we are very careful not to be specific about our expectations to revenues. We just know that there is a gigantic market which is waiting for us", Stephan Engberg says. The news is reported by financial daily newspaper Børsen.

 

Link > Open Business Innovation 

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