Proxy to base digital ID signals on continuous biometrics from wearables with Motiv acquisition
Proxy has acquired smart ring maker Motiv, and is bringing a majority of its employees on board to bring digital identity signals to wearables, which the company says would be the first time that is done, and could revolutionize the way people interact with technology around them.
According to a blog post by Proxy CEO Denis Mars, Motiv is widely believed to be the most advanced and innovative smart ring available, but wearables technology is still in its infancy.
“Wearables are where mobile phones were in in the 90s, the flip phone days. For the most part, they have been relegated to fitness and sleep tracking, when we see more profound purposes possible,” Mars writes.
In its mission to create a wireless digital identity signal technology to act as a person’s proxy in the physical world, Proxy has long considered the advance of wearable technology as a key element in its development. Smartphones are a natural first place to build that signal into, but wearables are the next step on the same journey, according to Mars.
Continuous biometric authentication, as provided by Motiv’s ring, positions Proxy to lead the change in how people identify themselves to objects and interact with their environment. This will be particularly important with advances such as augmented reality (AR), virtual reality (VR), and cryptocurrency coming together. Mars also emphasizes the importance of biometric data staying on the device to protect user privacy.
“With the ring on one’s finger, constantly in contact with the human and biometrically linked, we start to enter a new world of what we define as the fusion of humans and technology; man-machine symbiosis,” Mars states.
The acquisition grew out of conversation around a partnership to integrate Proxy’s technology into the Motiv ring. While the preliminary work was started, Proxy came to the belief that the best approach to accelerate its implementation on wearables would be to bring the technology into its company. Not that the move is made, Mars says he expects the timeline for Proxy’s wearables plans to move up by “at least a couple of years.”
Proxy announced a $42 million Series B funding round a month ago, with Mars saying at the time that part of the funding would help the company “try to grow up as quickly as possible.”
The terms of the deal were not disclosed.