Dallas Semiconductor Corp is currently testing its digital decoder ring, which fits on the user’s finger, like jewellry, as an alternative to Smart Cards for electronic funds transfer. Each ring has its own 64-bit serial number that is permanently engraved in the chip. When used in conjunction with the company’s Priva-C software, the Dallas, Texas company reckons the ring will offer the same level of security as a Smart Card, but costs less. The Priva-C software kit costs $80 and the decoder ring, which was customised by Minneapolis-based Jostens Inc, $60, compared to Smart Card and Smart Card readers, which cost anything from $100 to $200, said Phil Casini, senior product manager for the Priva-C software. The rings have also been encoded according to the American Banking Association Standard which is used by both Visa International and Mastercard International Inc, which the company claims will help the widespread adoption for electronic commerce. Each decoder ring is fitted with a touch memory chip encased in a graded stainless steel casing. The casing acts as a metal connection to form a complete electrical circuit using just the connection between the ring and the reader. This enables information to be read and written to and from the ring with momentary contact. The chip has a built-in reader-writer and a transmitter-receiver that can send data over a maximum distance of 330 yards. When used with the Priva-C software, the ring can access information stored on a personal computer, or authenticate transactions, but to use this software, a separate read-write device is needed that plugs into the serial port of a personal computer. When the ring is read by this device, the Priva-C software works out whether the transaction is valid by matching the serial number with the user’s name stored on the personal computer. The company reckons that 256 bits is sufficient to store all the necessary information for electronic funds transfer although the microchip will store up to 64Kb, the equivalent of two and a half pages of text.
