Of all the interesting new tech that seems poised to garner a lot of buzz in 2011, near field communication (NFC), is probably the most exciting. If it takes off, it will transform the ways we communicate, share, and make payments with digital devices. This will likely take years to happen, but the groundwork is being laid right now. And RFinity is one of those companies at the forefront.
While Google and Apple are responsible for generating much of the buzz about NFC at the moment, the technology goes far beyond simply having the right type of chip in your mobile device. For example, how do you handle different types of data transfers being made from one device to another? And how to you ensure that they happen as quickly as possible? And most importantly, how do you ensure that they happen securely? Those are the things that RFinity is thinking about.
The company has just raised $4 million from Horizons Ventures in Hong Kong. And the space has gotten so red hot, in fact, that we hear they’re already out raising another round.
And it’s an easy bet for investors to make not only because of the space, but because of where the project originated: The U.S. Department of Energy. Specifically, RFinity was born when a bunch of infrastructure security experts working for the government were assigned to find all the vulnerabilities in cell phones. Through software they came up with, they were able to quite easily eavesdrop, manipulate SMS messages, and even compromise LAN security. Then they set out to figure out a way to stop people from doing those very things. That work led directly to RFinity.
Work originally began in the person-to-person and person-to-vendor sales space by way of mobile applications that route transactions through RFinity’s own secure servers. But now that NFC appears ready, RFinity is making sure they’re ready for it. The idea is that their technology could cut out the middle man here: themselves.
Obviously, the company isn’t going to share all the details on how they secure NFC transfers. But the basic overview is that they verify an incoming NFC signal and ask for a user’s permission before taking any action. Further, if the action is a transaction, it requires a PIN, just as you might do an ATM withdrawal. That’s all pretty standard. But the key is one-time-use transaction codes that RFinity creates on the fly along with complex cryptographic signatures. These ensure that an transaction is secure since it means that every transaction can only happen once. Even if those numbers were intercepted by a hacker, they would be useless beyond the one-time payment.
And even if your phone is lost or stolen, a thief couldn’t do anything without your PIN. And you can remotely shut down your NFC capabilities via RFinity. It’s enough to make me wish I could throw out all my credit cards right now. “Today’s identification and transaction systems are based on what? A magnetic strip on the back of a card, based on a 1950’s technology that relies on a base station to read the information embedded as a series of simple magnetic markers in plastic tape,” writes Josh Jones-Dilworth, who is working with the company to bring them to market.
Again, NFC as a technology is great and potentially game-changing. But the software is still needed to make it actually work. And some of the big guys began realizing that early on as companies like PayPal, Bank of America, and even Subway have been testing out different things with RFinity for some time. In fact, RFinity has actually been doing field tests of the software end of their technology since 2009 in places like Idaho, well before most people in the U.S. had ever thought about NFC.
But now people are starting to care. And soon, they could be caring a lot more. NFC is already built-in to Google’s new Nexus S device — and the company has put out a call for developers to start using the tech. Rumors have the next iteration of the iPhone gaining the technology as well. In other words, I suspect we may be seeing acquisition rumors starting to fly around RFinity in about six months or so. Provided their technology proves up to the NFC challenge, of course.
I'm as entertained as anyone with the recent antics of Charlie Sheen, and if capturing the attention of the entire public was the goal, then Charlie is "winning."
Most of us are watching in a kind of awe-inspired horror. This would be great, we think to ourselves, if Charlie was actually in control, if his TV show was still in production and if his kids had not been carted away in the dead of night.
Charlie keeps saying he's tired of hiding who he is. He's tired of apologizing for his behavior and he doesn't see his choices as a problem. After all, he has tiger blood and Adonis DNA; he's special and he's tired of hiding it. This is where, in a free society, one has to ask, just how free are we, really?
Charlie has declared himself in defiance of social etiquette as a guy who does anything he wants to do whenever he wants to do it -- rules be damned. Society is now saying, "We can't stop you, but you won't be working for us, and you can't have custody of your kids".
For a lot of people in America, Charlie's antics are making him more of a role model than ever. They look at Charlie and say, "I want to party with you, man." These are the same people who say, "I love Jackass," and they go to shows where stunt men deliberately get into accidents. It's considered uniquely American to have the freedom to not care what society thinks, even if what you're doing is self destructive.
Most of us care about consequences; that's what keeps us in line. What other people think matters to us. We don't have our own definition of winning. We measure our success against a societal definition. As a result, most of us feel like failures, and as we watch a "free" man, we become frightened.
Charlie Sheen is fascinating, compelling, dangerous and exciting. We know it can't last. Eventually, Charlie will have to surrender and admit failure because too many people are watching. He'll either be reined in or become the societal definition. One way or the other, this will come to an end and we'll all say, "It was fun to watch while it lasted".
The funny thing is, there are lots of people living just like Charlie Sheen and no one is telling them to stop. Their children are not being removed and, if they don't work, many of them get money from the government or live completely outside the law. Charlie's problem is that he's experiencing too much of that societal definition of success and at the same time being too high profile. We all know you can't have it both ways.
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