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 cryptocurrencies 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 smart wallet, click here.
NXT-ID looks to usher Bitcoin and other cryptocurrencies into the mainstream payments industry and Wocket® is the beginning of that push for consumer-friendly crypto-wallets.
Chief Executive Officer Gino Pereira said,
“We continue to build out our patent and IP portfolio as the payment industry evolves. This technology is another important step of how we intend to build the payment solution to the future.”
The company’s latest management system handles multiple traditional financial accounts and cryptocurrency accounts, like Bitcoin, including initiating transfers, currency exchanges, sending