According to the report, "NXT-ID is a technology developer, the company has emerged as a newly public company with a set of technologies and an open platform that can be used across all mobile identity applications. The founders of NXT-ID were an integral part of the senior management teams at Technest Holdings, Inc., and its subsidiary Genex Technologies."
"We see NXT-ID as a leading company and solutions provider in the area of identity management. Their focus on the key infrastructure area, cloud, and key area, commerce, will serve them well as they position themselves in what we see as a relatively small field of critical solutions providers."
The report went on to say about the industry, "User-centric mobile identity ranges from identity attributes (e.g., biometric elements) to proofs of private/secret tokens (cryptographic keys, passwords) and credentials and to location, can be critical for the functionality of mobile computing and context-aware services. Network security usually involves communications of two or more participating entities. However "security" covers many different aspects. A mobile identity system needs to provide security services to its participating entities so that business can be conducted successfully in electronic form.
While identity management technologies offer rapid (ROI) and positive business outcomes, they also pose new challenges in data capture, storage, privacy, and compliance.
This also implies that the operator will play an even more important role in the future in protecting the consumers' privacy. Consumers will only trust those who demonstrate that their data is being appropriately used and not abused. Ideally, data would be provided in exchange for some benefit, convenience or monetary value.
Report link: http://www.mindcommerce.com/Publications/MobileID_2014-2019.php
This report was originally published November 2013 and released by Research and Markets on April 17, 2014.
Disclosure: This report was not paid for by NXT-ID Inc.
About Mind Commerce
Mind Commerce is your trusted source for research and strategic analysis focused on digital technologies and the telecommunications industry. Our reports provide key trends, projections, and in-depth analysis for infrastructure, platforms, devices, applications, services, emerging business models and opportunities. http://www.mindcommerce.com
Interested consumers can also sign up for product info and news alerts in anticipation of the product. Advance ordering will be available following the May 28th event. http://www.wocketwallet.com/
The Wocket product FAQ is available to consumers and media at http://nxt-id.com/wocket-faq/
About NXT- ID Inc. - Mobile Security for a Mobile World
NXT-ID, Inc.'s (OTCQB: NXTD) innovative MobileBio™ solution mitigates consumer risks associated with mobile computing, m-commerce and smart OS-enabled devices. The company is focused on the growing m-commerce market, launching its innovative MobileBio™ suite of biometric solutions that secure consumers' mobile platforms led by the Wocket™ ; a next generation smart wallet designed to replace all the cards in your wallet, no smart phone required. The Wocket works anywhere are accepted and only works with your biometric stamp of approval. http://www.thewocket.com/, http://www.wocketwallet.com/
NXT-ID' wholly owned subsidiary, 3D-ID LLC, is engaged in biometric identification has 22 licensed patents in the field of 3D facial recognition http://www.nxt-id.com/, http://3d-id.net/
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 Commission.
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