DUST Identity Partners with Algorand to offer a Physical Binding to Blockchain and to Ensure Authenticity

FRAMINGHAM, Mass., Nov. 6, 2019 /PRNewswire-PRWeb/ -- DUST Identity, pioneers of the first Diamond Unclonable Security Tag for supply chain security and full lifecycle tracking, today announced a partnership with Algorand, a recently launched blockchain platform with the high performance needed for real-world applications. With DUST Identity's innovative and secure interface for physical objects and the digital world and Algorand's leading blockchain protocol, the organizations together can provide scalable and tested methods to authenticate physical objects and validate genuine transactions on the blockchain.

Both Algorand and DUST Identity recognize that the decentralization of global supply chains requires new secure, transparent, and robust authentication solutions. This partnership allows global organizations to utilize their complementary solutions to ensure digital integrity, physical security, and end-to-end visibility of their supply chains.

"A partnership between DUST Identity and Algorand brings together organizations focused on authenticity," said Steven Kokinos, CEO at Algorand. "A scalable blockchain merged with cutting edge security solutions will bring trust and verification in supply chain to new heights. I am excited to see DUST Identity leveraging these attributes of blockchain as part of their offerings."

"There's an inherent supply chain challenge when leveraging blockchain alone to provide the necessary transparency and authentication for tracking physical items," said Peter Gillooly, Head of Strategic Partnerships at DUST Identity. "DUST Identity's mission is to solve that challenge by creating a trusted binding for physical items and their digital identities. As we continue to broaden our partner ecosystem, we are excited to work with Algorand's blockchain to offer commercial organizations more visibility and trust in their supply chains."

More on DUST's Technology
DUST Identity developed a solution that utilizes nanodiamonds to create an unclonable identity layer on any object. An optical scanner and cloud-based infrastructure provide an interface to the object identity and provenance. DUST ensures that trusted data and verifiable products are used and traced across their full lifecycle. This foundational technology can be utilized with blockchains to extend the trusted digital thread by securely anchoring it to products, parts, packaging and documents

More on Algorand's Technology
Algorand developed the first public, permissionless, pure proof-of-stake blockchain protocol and has defined the new standard for blockchain. With performance that enables best in class speed and scalability of business solutions on blockchain, Algorand is continuing to deliver technology needed to fulfill the promise of blockchain.

ABOUT DUST IDENTITY
DUST Identity is the creator of the Diamond Unclonable Security Tag (DUST), a technology utilizing nanoengineered diamonds to create an unclonable identity layer on any object. DUST Identity is the only supply chain solution that ensures that trusted data and verifiable products are used and traced across their full lifecycle. DUST Identity, established in 2018 and headquartered in Framingham, was created by a team of quantum physics, nanotechnology and cyber experts. The company is an MIT spinoff, participated in several DARPA programs and is backed by Kleiner Perkins with participation from Airbus Ventures, Lockheed Martin Ventures, New Science Ventures, Angular Ventures and Castle Island Ventures. Learn more via http://www.dustidentity.com and follow us on LinkedIn and Twitter.

ABOUT ALGORAND
Founded by cryptography pioneer and Turing award winner Silvio Micali, Algorand is an open-source software company building technical innovation for the borderless economy with a platform that delivers decentralization, scalability and security. Algorand's first-of-its-kind, permissionless, pure proof-of-stake protocol supports the scale, open participation, and transaction finality needed by users to build opportunity and fulfill the promise of blockchain technology. For more information, visit https://www.algorand.com/.

SOURCE DUST Identity