Token develops ring with fingerprint sensor for continuous authentication
Biometric technology startup Token has developed Token, a ring embedded with a fingerprint sensor that can be used for payments, access and several other applications, according to a report by Engadget.
Although the ring itself is made of thick metal and plastic, its interior contains an optical sensor, a fingerprint sensor, and NFC and Bluetooth as well as a chip with a secure element inside.
Once the individual puts on the ring, Token immediately begins scanning his or her fingerprint for continuous verification of the person’s identity.
It is only until the person takes the ring off is the connection broken, which means that Token will block anyone else who tries to use the ring to access a restricted area or make a purchase.
The ring uses tokenization to add an extra layer of security protection to credit card transactions.
Although it is unclear what the ring’s other security measures are at this time, the fact that Token is part of the FIDO Alliance, and is partners with financial institutions like MasterCard and Visa gives the startup credibility in terms of security.
Token said the user’s credentials are stored locally on the device’s EAL5+ certified secured element for safety purposes, and not on a server.
The manufacturer has already enlisted the help of several partners including MasterCard, Microsoft, Visa and HID, the latter of which is responsible for 80 percent of the market’s keyless security systems.
Due out later this year, the ring is designed as a stand-in for everything that unlocks your life: credit cards, transit passes, car keys, workplace access cards, and even passwords.