New technology improves
the security and operation of multiple IoT devices
MELBOURNE, Florida, May 23, 2018 – (Investorideas.com Newswire) NXT-ID,
Inc. (NASDAQ: NXTD) today announced that the United States Patent and Trademark
Office has issued US Patent Number 9,979,724, entitled "Distributed Method
and System to Improve Collaboration Services Across Multiple Devices." The
patent introduces the concept of collaborative services across multiple devices
that may be used to utilize a common data or algorithms to recognize and
authenticate a user for purposes of performing a variety of actions across many
devices. It enables devices without specific authentication hardware or
software components the ability to leverage the capabilities of nearby devices
or contribute by sending data to an authentication service.
"This
technology improves the security and operation of the IoT by enabling multiple
devices to work together to improve accuracy and convenience,” David Tunnell,
CTO of NXT-ID. “Now, instead of simply authenticating with a single device,
multiple devices may work together to identify and authenticate users. This introduces numerous possibilities for
collaborative services in the future as the IoT grows. Beyond authentication,
these collaborative services can include jointly performing tasks or jointly
providing services to the user.”
“Expanding our
patent portfolio in the areas of credential management, authentication and
payments is a key component of our strategy to be at the center of the
ever-growing Internet of Things,” said Gino Pereira, Chief Executive Officer of
NXT-ID. “The technology behind this patent creates a range of potential use
cases – everything from securing payments to personalizing room environments –
that will make IoT devices more secure, more personalized, more efficient and,
ultimately, even more powerful.”
About
NXT- ID, Inc.
NXT-ID, Inc. (NASDAQ: NXTD) provides a comprehensive platform
of technology products and services that enable the Internet of Things (IoT). With
extensive experience in access control, biometric and behavior-metric identity
verification, security and privacy, encryption and data protection, payments,
miniaturization and sensor technologies, NXT-ID develops and markets
groundbreaking solutions for payment and IoT applications. Its industry-leading
technology products and solutions include MobileBio®, a suite of biometric solutions that secure consumers'
mobile platforms, the Wocket™, a next-generation smart wallet and the Flye, a digital credit card developed in collaboration
with WorldVentures.
NXT-ID includes three mobile and IoT-related
subsidiaries: LogicMark, LLC, a
manufacturer and distributor of non-monitored and monitored personal emergency
response systems ("PERS") sold through dealers/distributors and the
United States Department of Veterans Affairs; Fit Pay, Inc., a proprietary technology platform that delivers end-to-end
solutions to device manufacturers for contactless payment capabilities,
credential management, authentication and other secure services within the IoT
ecosystem, and 3D-ID LLC, which
is engaged in biometric identification and authentication. Learn more about
NXT-ID at www.nxt-id.com. FitPay and the FitPay Payment Platform are the sole
property of Fit Pay, Inc. For NXT-ID
Inc. corporate information contact: info@nxt-id.com
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.
Media Contacts:
Chris Orlando
+1-760-468-7273
D. Van Zant
+1-800-665-0411
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