MELBOURNE, Florida,
May 23, 2018 /PRNewswire/ --
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
chris.orlando@nxt-id.com
+1-760-468-7273
D. Van Zant
+1-800-665-0411
press@nxt-id.com
SOURCE NXT-ID, Inc.