SOURCE: iWallet

iWallet

April 20, 2015 08:00 ET

iWallet Corporation Innovates Business Model, Announces New Technology Division, Investment in Zero Password Technologies

SAN DIEGO, CA--(Marketwired - April 20, 2015) - iWallet Corporation (OTCQB: IWAL) today announced it is innovating its business model, forming a technology division focused on leveraging its robust patent portfolio of design and utility patents surrounding biometric fingerprint recognition sensors and Bluetooth® BLE communications to bring-to-market biometric products designed to protect credit cards, jewelry, prescription medications and other valuables.

"The global biometrics market is predicted to be worth $23.54 billion by 2020," said Jack Chadsey, CEO of iWallet Corporation. "This shift uniquely positions us at the center of a market larger than our original growth strategy and allows us to serve as a technology enabler, expanding our pathway to growth beyond the successes of our revenue-generating retail division."

The ability to enable communications and tethering functionality with customers' smartphones and other Bluetooth® devices underlies our proprietary innovation portfolio and will be the focus of this new division, bolstered by some of the following technologies:

  • Large frame silicon fingerprint sensors enable low-cost security with the most advanced capacitive technology to reject spoofing attacks.
  • An encrypted data connection to any Bluetooth® host including, smart phones, tablets and computers dependent on Bluetooth® 4.0, the most recent widespread deployment of the popular short-distance wireless communication protocol, which includes Bluetooth® Low Energy (BLE).
  • Zero password authentication enables cost-effective and agile authentication, allowing management to enable access to any customers' device with Bluetooth® via a secure biometric fingerprint sensor. Users may access new Microsoft OS and Yahoo via their iWallet. Other Zero Password enhancements include:
      • Utilization of the customer's unique heartbeat signature from a Bluetooth® enabled wrist sensor
      • Ocular scan registration via an onboard CMOS camera lens, the sensor technology increasingly being used in today's cameras
      • Passphrase voice recognition for a no hands access to the customer's valuables
      • Gesture recognition for alternative access control
  • Access control which incorporates new lines on Bluetooth®- enabled door locks, accessible via a fingerprint.
  • No-hacking security, combining iWallet's secure biometric sensor and Bluetooth® BLE data connection without the vulnerability of a smartphone internet connection -- allowing the user to retain control of their valuables.
  • NFC on-board for faster Bluetooth® registration, compatible with various electronic payment systems.

"We are immersed in joint venture collaborations with other technology companies in these related fields to fast track these technologies," said Chadsey. "We believe that the addition of this division to our current business model dramatically enhances the value of our enterprise. With the retail division generating revenue, the technology group can focus on the development and licensing of these exciting new technologies and enhancements."

iWallet's current assortment of biometric luxury, secure techcessories include the iWallet Slim, iWallet Classic, and its new "iPassport" which holds both a passport and credit cards. All iWallet products include biometric fingerprint recognition sensors, Bluetooth® BLE communications with the customer's smart phone or any Bluetooth® device which enables a tether function to track valuables. In addition, the products incorporate a long lasting lithium-ion rechargeable battery which lasts up to 30 days and a secure locking mechanism with carbon fiber and Kevlar® cases.

About iWallet 
Headquartered in San Diego, California, iWallet (www.iwalletusa.com) is a secure, luxury techcessories company, focused on its robust patent and trademark portfolio in the growing biometric market and combining the latest security features with luxury appointments.

Forward-Looking Statements 
This press release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information contained in this press release including such forward-looking statements.

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