Breaking
Tech News: NXT-ID (Nasdaq:NXTD; NXTDW) Patents Collaborative Services to Enable
the "Internet of Things"
Patent further
advances biometric authentication for Wocket™
OXFORD,
CT - February 12, 2015 (Investorideas.com Newswire) NXT-ID, Inc. (NASDAQ: NXTD), a biometric
authentication company focused on the growing mobile commerce market, announced
today that it has filed provisional patent 62/113114 for
DISTRIBUTED
METHOD AND SYSTEM TO IMPROVE COLLABORATIVE SERVICES ACROSS MULTIPLE DEVICES.
The
patent further establishes NXT-ID's position in the emerging "Internet of
Things" by adding to its intellectual property portfolio the ability for
multiple devices to collaborate with one another to improve various services
such as personal authentication. The patent also introduces new collaborative
payment authentication methods by requiring multiple devices such as wearables
and mobile devices to collaborate with one another before a payment can be
made.
"Wearable
and mobile devices will interact with traditional stationary devices more and
more in the future," says David Tunnell, Chief Technology Officer of
NXT-ID. "As watches, phones and smart wallets interact more and more with
locks, appliances and point of sale (POS) systems, for example, the opportunity
to harness the collective processing and unique features of the devices to
improve user experience exists. Unfortunately, the opportunity for hacking also
exists. The multi-device collaborative services described within this patent
improve not only the convenience of interaction with multiple devices, but also
improves security through collaborative authentication services."
He
also went on to say, "This patent further advances biometric authentication
for our Wocket™ smart wallet by enhancing training of our voicematch algorithm
using multiple devices. We also enhance security of Wocket by introducing a new
proximity based payment solution that requires multiple devices, such as Wocket
and Wocket card, to be present before payment can be performed. This method
further reduces potential fraud by only authorizing payment if both devices
communicate without one another, further reducing any possibility of loss of
personal information due to theft of either device."
About NXT- ID Inc. - Mobile Security
for a Mobile World: (NXTD) (NXTDW): NXT-ID, Inc.'s innovative MobileBio®
solution mitigates consumer risks associated with mobile computing, m-commerce
and smart OS-enabled devices. The company is focused on the growing m-commerce
market, launching its innovative MobileBio® suite of biometric solutions that
secure consumers' mobile platforms led by Wocket™; a next generation smart
wallet designed to replace all the cards in your wallet, no smart phone
required. Wocket was recognized as one of the top technology products at CES
2015 by multiple media outlets including Wired.com. The Wocket works anywhere
credit cards are accepted and only works with your biometric stamp of approval. http://www.wocketwallet.com/
NXT-ID'
wholly owned subsidiary, 3D-ID LLC, is engaged in biometric identification and
has 22 licensed patents in the field of 3D facial recognition http://www.nxt-id.com/, http://3d-id.net/
Forward-Looking
Statements for NXT-ID:
This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements reflect management's current expectations, as of the date of this
press release, and involve certain risks and uncertainties. Forward-looking
statements include statements herein with respect to the successful execution
of the Company's business strategy. The Company's actual results could differ
materially from those anticipated in these forward-looking statements as a
result of various factors. Such risks and uncertainties include, among other
things, our ability to establish and maintain the proprietary nature of our
technology through the patent process, as well as our ability to possibly
license from others patents and patent applications necessary to develop
products; the availability of financing; the Company's ability to implement its
long range business plan for various applications of its technology; the
Company's ability to enter into agreements with any necessary marketing and/or
distribution partners; the impact of competition, the obtaining and maintenance
of any necessary regulatory clearances applicable to applications of the
Company's technology; and management of growth and other risks and
uncertainties that may be detailed from time to time in the Company's reports
filed with the Securities and Exchange Commission.
Contacts:
Media:
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