NEW YORK, NY--(Marketwired - Feb 18, 2014) - SmartMetric, Inc. (OTCQB: SMME), announced that it is continuing to focus its technology development on its biometric fingerprint cards for payments, security and identification and will not be pursuing the adoption of cryptocurrencies within its technology until the legal and regulatory framework within the United States is established.
"Bitcoin and the growing number of cryptocurrencies that have more recently been introduced to the market are very compelling technologies that can potentially significantly reduce banking costs but have an inherent detrimental social issue when they are used for anonymous payments. SmartMetric believes that the core code "the blockchain" at the heart of these new cryptocurrencies is the real genius of the technology that allows for efficient, traceable and confirmed transfers. The company is looking at ways the blockchain code can be used inside of the Banking industry to facilitate a lower cost paymet infrastructure for financial institutions and merchants alike," stated SmartMetric CEO Chaya Hendrick.
The Company intends to continue to concentrate its efforts on bringing to market its fingerprint activated biometric EMV payments cards while at the same time working on using the blockchain protocol to bring about efficiencies in the payments sector and will continue with seeing the adoption of its biometric EMV payments card technology within the Banking industry.
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.