Biometric Company Patents Cryptocurrency Management System to Advance Bitcoin in Payments Market
Biometric authentication company NXT-ID, Inc. (NASDAQ: NXTD) has announced that it has filed provisional patent 62/198989 for ELECTRONIC CRYPTOCURRENCY MANAGEMENT METHOD AND SYSTEM in a bid to advance cryptocurrency technologies such as Bitcoin into the consumer payments market. The company has an enviable product in Wocket®, a smart wallet designed to protect the identity and replace all the cards in a wallet, with no smart phone or cloud required. Wocket® works most anywhere credit cards are accepted and only works with your biometric stamp of approval or passcode. For more info on the....
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Mobile payment platforms and digital currencies have an immense potential to suit consumer spending as a wide range of technology developments and digital products are introduced into the market. With improved technology and products introduced to consumers recently NXT-ID, Inc., Apple Inc., Google Inc., PayPal Holdings Inc., Visa Inc. and American Express Company continue to be the biggest players in the digital payments sector. NXT-ID, Inc., a biometric authentication company focused on the growing mobile commerce market, recently announced it has filed a provisional patent for an....
NXT-ID, Inc., an Oxford, Conn. -basedbiometric technology company focused on the mobile commerce market, has filed for a patent for its electronic cryptocurrency management system. The NASDAQ-listed company also completed a public offering, providing funds to support the launch of its smart wallet. The NXT-ID technology manages multiple traditional financial accounts and cryptocurrency accounts, including initiating transfers, currency exchanges, submitting payments, and receiving payments. An "abbreviated block chain" synchronizes transactions and balance validation to enable both online....
A number of bitcoin patents on cryptocurrency-related products have been published earlier this month, leading some to wonder about its potential ramifications on the industry. Coinbase CEO and co-founder Brian Armstrong weighed in on this issue in a post on Medium. Just recently, Bank of America's patent on a system of cryptocurrency wire transfers was published by the US Patent & Trademark Office (USPTO). This was followed by news that Coinbase filed patents for nine bitcoin products, including a wallet, hot exchange, and a bitcoin tipping button. Coinbase Cryptocurrency Patents.....
Bitcoin wallets are already known to be very secure, as most feature a multisig verification and provide both public and private keys for users. However, recent hacking incidents and online theft could lead some companies to consider biometric authentication. Just recently, HYPR Corp. announced the availability of its biometric authentication SDK which could be used for third-party integration. This means that bitcoin wallets could be able to add yet another layer of security to their services. Bitcoin Wallets Authentication. The HYPR SDK enables enterprises to seamlessly implement....