Token reminds you it’s fine to be forgetful
If there were statistics regarding the things people usually forget the most, the top two items would most certainly be keys and wallet. It would be astonishing to take a look at the official numbers that describe how many times a week people, after getting ready for another day at work, get in their car, hop on a bus or a train only to realize, most likely halfway through their journey, that they forgot their keys or wallet.
No numbers are needed, however, to explain what usually follows. A seemingly never ending moment of self-condemnation, the disarming realization there is not nothing to be done excpt having to go back and ask a neighbour for an extra key or breaking in into your own apartment. Whichever scenario manifests itself, it’s not going to be a pleasant one.
How many times do people wish they could have all of their essential items, keys, credit cards, passwords etc. fused in one simple object they can have on them at all times? How easier would life be? Well, dream no more, because Token is coming to the rescue.
Token, a Rochester, NY-based company specializing in biometric security, has just come up with a ring that enables you to wear all of your material and digital belongings. That’s right. You can wear your credit card information, car keys, computer password and more on a thick metal and plastic ring that has an optical sensor, a fingerprint sensor, and NFC (Near Field Communication) and bluetooth as well as a chip with a secure element inside.
This product will allow you to open doors, pay for things and even start cars. How does it manage to do all of that?
Token ring uses a fingerprint sensor, which confirms you are the authorized owner of the ring. After wearing it, you have to place it on an IR optical sensor that activates it and enables you, as long as you have it on, to add your credit card information, login passwords as well as other personal details with the assistance of a twin app through which you set up your profile.
Once all the informations are verified you won’t have to choose which transaction to approve but if you remove it from your finger you will have to place on the sensor again to access your information again.
Token has sealed a long list of partnerships to ensure this ring is not only a safe place to store your information but also helpful tool to make your purchases fast and secure. MasterCard, Microsoft, Visa and HID are the most prominent ones and in the imminent future the partnership with these financial institutions is not only going to be useful for your off and online shopping, but also for your daily commuting.
Starting in 2018, in fact, in many major American cities, as well as in other parts of the world, you will be able to access public transportation with a simple tap on a card reader, which Token ring will be able to read and function as a payment card for your everyday commute. Major US cities ready to support this by 2017 include Chicago, Salt Lake City, Miami and Philadelphia, while New York City is supposed to the list in the first quarter of 2018.
The makers of Token ring, however, are mostly concerned with the protection of private information and total safety of transactions. As a reflection of their believes and professional approach, the company employs tokenization as an extra dose of credit card transactions and it is also part of the FIDO alliance (a non-profit organization focusing on interoperability between apps and devices).
Security is without a doubt held beyond dearly at Token. Only one set of fingerprints can be associated with the ring and whenever it is removed, the proximity sensors will lock the credentials and only reactivate them when the user’s fingerprints are detected again.
The company’s efficiency and attention to details such as security and uniqueness are not only acknowledged but also shared by relevant players in the tech game. Token, has in fact, managed to secure $1.5 million from Future\Perfect Ventures, RRE Ventures, High Line Venture Partners as well as the Rochester Institute of Technology Fund.
The $249 ring comes with a brushed stainless steel look, as well as in black rhodium and 14k rose gold finishes.