Welcome!

News Feed Item

SmartMetric's Payment Card Can Help Bitcoin Surpass Top Payment Networks in Volume

With More Than $287,000,000 in Daily Transaction Volume Bitcoin Is Now Larger Than Western Union and Quickly Moving to Eclipse PayPal

NEW YORK, NY -- (Marketwired) -- 01/31/14 -- SmartMetric, Inc. (OTCQB: SMME), a developer of patented payment card technologies and the first biometrically protected bitcoin payment card, today announced that its soon-to-launch SmartMetric Biometric Bitcoin Card™ can help further accelerate bitcoin's adoption and usage rates. SmartMetric's card is the world's first biometric, fingerprint secured, off-line storage platform for bitcoins. It makes using bitcoins as easy as using a standard debit or credit card that is tied to the dollar or any other traditional currency.

According to numbers published by www.bitcoinwatch.com the past daily average of bitcoins traded was 359, 846 which equates to a daily trading US dollar transaction value of $287, 876, 800 per day. This already is greater than Western Union's $216,000,000 and fast approaching PayPal's $397,000,000 estimated daily transaction volume.

"In the next one or two years, bitcoin can surpass the dollar transaction volumes of other established payments companies including Discover, and even American Express, MasterCard, and Visa," stated SmartMetric CEO Chaya Hendrick. "Cards from the largest payment card companies can't be used for very large dollar value transactions such as buying and selling cars and homes. Bitcoin can and is. Bitcoin is an all pervasive payments system suitable for anything from micro-purchases to seven-figure ticket items. This means it has the potential within a short period of time to transact daily and annual dollar volume amounts that eclipse today's payments giants, Visa and MasterCard. By making spending bitcoins even easier, our SmartMetric Biometric Bitcoin Card™ can contribute to this phenomenon."

The Market Cap as of today based on the latest price of Bitcoin is $9, 867, 023, 336 USD.

"An analysis of these charts shows that the number of daily bitcoin transactions has been less volatile than the bitcoin transaction volume in terms of dollars. This points to the use of bitcoin accelerating in a more consistent way than most people realize. When combined with large ticket purchases, this can really have an impact on how quickly bitcoin can surpass established payment systems," Hendrick added.

About SmartMetric Biometric Bitcoin Card™

The SmartMetric Biometric Bitcoin Card is the world's first biometric, fingerprint secured, off-line storage platform for bitcoins. The card offers the benefits of bitcoins such as peer-to-peer transactions and card-to-card direct bitcoin sending anywhere in the world, while enabling real-time, in-person standard payment transactions at merchants and compatibility with standard ATMs around the world. Advanced patented payments card technology combines with the world's first fingerprint technology to use the cardholder's unique biometrics to lock and unlock the SmartMetric Biometric Bitcoin Card, providing safety and discrete portability.

About SmartMetric

SmartMetric, Inc. (OTCQB: SMME) develops patented biometric technologies used for security and identification, including the world's smallest fingerprint reader. The Company's proprietary advanced miniature electronics technology uses sub-micro computers to create fingerprint and security applications that were not previously possible. The world's smallest fingerprint reader is designed to fit inside standard payments cards as well as ID cards. Because of the miniature size of the electronics it is ideal for use in a broad array of products requiring an enhanced identification system. SmartMetric's products include the SmartMetric Biometric Bitcoin Card™, the SmartMetric Intelligent Card OS™, and MedicalKeyring™ a medical emergency biometric card. For information on SmartMetric and its technology please go to www.smartmetric.com.

Safe Harbor Statement

Certain of the above statements contained in this press release are forward looking statements that involve a number of risks and uncertainties. Such forward looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Readers are cautioned that any such forward looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors.

Add to Digg Bookmark with del.icio.us Add to Newsvine

Investor Relations:
Jens Dalsgard
ConstellationAA.com
+1.775.771.5808

SmartMetric, Inc.
Chaya C. Hendrick
President & CEO
+1.786.269.2238
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
"Cloud computing is certainly changing how people consume storage, how they use it, and what they use it for. It's also making people rethink how they architect their environment," stated Brad Winett, Senior Technologist for DDN Storage, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
Detecting internal user threats in the Big Data eco-system is challenging and cumbersome. Many organizations monitor internal usage of the Big Data eco-system using a set of alerts. This is not a scalable process given the increase in the number of alerts with the accelerating growth in data volume and user base. Organizations are increasingly leveraging machine learning to monitor only those data elements that are sensitive and critical, autonomously establish monitoring policies, and to detect...
FinTechs use the cloud to operate at the speed and scale of digital financial activity, but are often hindered by the complexity of managing security and compliance in the cloud. In his session at 20th Cloud Expo, Sesh Murthy, co-founder and CTO of Cloud Raxak, showed how proactive and automated cloud security enables FinTechs to leverage the cloud to achieve their business goals. Through business-driven cloud security, FinTechs can speed time-to-market, diminish risk and costs, maintain continu...
CIOs and those charged with running IT Operations are challenged to deliver secure, audited, and reliable compute environments for the applications and data for the business. Behind the scenes these tasks are often accomplished by following onerous time-consuming processes and often the management of these environments and processes will be outsourced to multiple IT service providers. In addition, the division of work is often siloed into traditional "towers" that are not well integrated for cro...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settl...
In his session at @ThingsExpo, Dr. Robert Cohen, an economist and senior fellow at the Economic Strategy Institute, presented the findings of a series of six detailed case studies of how large corporations are implementing IoT. The session explored how IoT has improved their economic performance, had major impacts on business models and resulted in impressive ROIs. The companies covered span manufacturing and services firms. He also explored servicification, how manufacturing firms shift from se...
"I will be talking about ChatOps and ChatOps as a way to solve some problems in the DevOps space," explained Himanshu Chhetri, CTO of Addteq, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of bus...
For better or worse, DevOps has gone mainstream. All doubt was removed when IBM and HP threw up their respective DevOps microsites. Where are we on the hype cycle? It's hard to say for sure but there's a feeling we're heading for the "Peak of Inflated Expectations." What does this mean for the enterprise? Should they avoid DevOps? Definitely not. Should they be cautious though? Absolutely. The truth is that DevOps and the enterprise are at best strange bedfellows. The movement has its roots in t...
Learn how to solve the problem of keeping files in sync between multiple Docker containers. In his session at 16th Cloud Expo, Aaron Brongersma, Senior Infrastructure Engineer at Modulus, discussed using rsync, GlusterFS, EBS and Bit Torrent Sync. He broke down the tools that are needed to help create a seamless user experience. In the end, can we have an environment where we can easily move Docker containers, servers, and volumes without impacting our applications? He shared his results so yo...
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
The Jevons Paradox suggests that when technological advances increase efficiency of a resource, it results in an overall increase in consumption. Writing on the increased use of coal as a result of technological improvements, 19th-century economist William Stanley Jevons found that these improvements led to the development of new ways to utilize coal. In his session at 19th Cloud Expo, Mark Thiele, Chief Strategy Officer for Apcera, compared the Jevons Paradox to modern-day enterprise IT, examin...