VeriSign snags RFID tag deal
All your consumer goods are belong to us
VeriSign has snagged the tag contract, to manage a key component of a Net trading systems for consumer products identified by radio-frequency identification tags.
Standards organization EPCglobal has asked VeriSign to manage the root directory for its EPCglobal trading network. The EPCglobal network will use Radio Frequency Identification (RFID) tags and electronic product code (EPC) numbers to identify goods throughout the supply chain. Such trade doesn't amount to much at present but can be expected to be a very big deal in future.
The EPCglobal Network is touted as a means for businesses to become more efficient and productive in logistics and inventory management thereby saving thousands or even million in supply chain expenses.
Financial terms of the agreement were not disclosed. VeriSign does not expect the EPC contract to materially impact its 2004 financial results.
The deal comes after widespread criticism of VeriSign's stewardship of the Internet's core directory system focus on the company’s controversial Site Finder 'typo-squatting' service last year. Following widespread criticism of the service by techies and rival commercial interests, VeriSign pulled the plug on the controversial service last October. ®