Smart wearables are not a new thing; we have seen several such gadgets already, – Fitness bands, payment rings, smart watches, wrist bands etc. One more such gadget is now ready to hit the market, however, this is way smarter than the aforementioned ones because it can identify you, authorize you, and make transactions on your behalf.
Yes, you read it right! A start-up firm Token has built a biometric ring with the ability to open your house doors, start your car, enter you in your office without an access card, make transactions via your credit cards, and to sign you into your computer. In short, the new Token Ring may become your digital identity in near future.
Source: Tokenize.com
"Token is the one place where all of your digital keys live — credit cards, house keys, website credentials, transit cards, car keys, your access badge — these are all artifacts you use to prove who you are. We built a secure environment for these artifacts to live on from a combination of asymmetric cryptography, biometrics, and a secure element. And we used the engrained behavior (swiping a card, entering a password, using house keys) as our benchmark for convenience — we didn’t build a feature unless we could make it faster and easier."
All these features seem cool and need a lot of cooperation from the third parties whose products/services we use for authorization. Well! Token has taken care of that too. It has partnered with big brands so as to support authorization via this tiny ring. Some big names include MasterCard and VISA (Credit Card and Transportation Payment Card authorization), Microsoft (Computer authorization), and HID (Office Access Card authorization).
Source: Tokenize.com
As long as the security concerns, the company says that they store credentials on an EAL5+ certified secure element for the safety of user data. Also, being a part of the FIDO alliance, and having partnered with major financial institutions like MasterCard and Visa, Token promises to give users the best security against their data and identity. The Token Ring makers describe HID as responsible for 80 percent of keyless security, because of providing the security protocols for most of the systems.
Source: Tokenize.com
For payment cards authorization in public transport, Token has already got support from four cities – Chicago, Salt Lake City, Miami, and Philadelphia – where users will be able to tap on card readers with their Ring on, to enter the public transport, as soon as they get their Token Ring. New York City is also expected to join the crew by March 2018. Apart from this Ring, the ring makers have showcased two add-on products to support the Ring – DoorLock which transmits signals over NFC, and CarLock which can ignite the engine of vehicles with the start button.
Source: Tokenize.com
The company had started
taking pre-orders for the first batch of the Token Ring, that will be shipped in December but they are already sold out. However, you can reserve your Token from the website. The ring is available in 3 finishes, with a starting price of $249. Buyers interested in DoorLock and CarLock can pay additional $100 for each or can buy a bundled pack for just $399.
For more details, you can visit the company
website. They have an extensive
FAQ section to clear all your doubts.