Biometrics Advancers Look to Improve Password Protection: Company Seeks Patent for Adaptable Authentication and Data Exchange Method
CORAL SPRINGS, Florida, March 26, 2014 /PRNewswire/ --
Biometrics and Leading Technology companies move towards improving mobile security as consumer risks increase: NXT-ID, Inc. (OTCBB: NXTD), Google, Inc. (NASDAQ: GOOG), Microsoft Corporation (NASDAQ: MSFT), Salesforce.com, Inc. (NYSE: CRM) and Apple, Inc. (NASDAQ: AAPL)
NXT-ID, Inc. (OTCBB: NXTD), a biometric authentication company focused on the growing mobile commerce market, announced today that it has submitted a patent application for a universal and adaptable authentication and data exchange method. As a follow-up to U.S. provisional patent application No. 61/802,681, NXT-ID has filed patent application 14/217289 for universal authentication and data exchange method, system and service. The patent is a significant step forward in NXT-ID's vision to provide its proprietary MobileBio® authentication to a number of applications including financial transactions. MobileBio® enables users to identify themselves to a variety of other devices from a single device carried or worn by an individual.
To read the full press release, please click here: http://finance.yahoo.com/news/goodbye-passwords-175802195.html
In the MobileBio® ecosystem, devices know each other from a history of communication between one another. This history builds trust between devices by utilizing another NXT-ID invention, dynamic pairing. Since each device is dynamically paired with one another, it maintains a history of trust to secure its communications. When a user authenticates themselves with a local device such as a phone, watch, ring or a smart wallet, the user is also authenticating with other devices and applications that it encounters. This technology will enable users to seamlessly, securely access devices such as doors, phones, laptops, applications, entertainment systems, even remote services using a single device worn on a person.
According to Sedar Yegulalp of InfoWorld, Google, Inc. (NASDAQ: GOOG), Microsoft Corporation (NASDAQ: MSFT) and Salesforce.com, Inc. (NYSE: CRM) have all displayed their support to ramp up mobile security with their backing of OpenId Foundation's OpenID Connect, a platform for authenticating users. Apple, Inc. (NASDAQ: AAPL) has also showed persistence when it comes to password protection, with the latest development coming in an update for its iWork platform.
Tuesday March 25th, 2014 - Trading Report
On Tuesday, GOOG finished the day up .79% on over 1.9 million shares traded, while MSFT closed down .40% on over 40 million shares traded. CRM finished the day in the positive, up .51% on a volume of over 7.3 million. AAPL also finished up 1.08% on Tuesday with a volume of over 8.7 million shares.
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