Trust Stamp receives notice of a new patent issuance for AI-powered tokenization technology from the US Patent and Trademark Office
August 11 2023 - 8:45AM
Trust Stamp (Nasdaq: IDAI), the Privacy-First Identity CompanyTM
providing AI-powered trust and identity services used globally
across multiple sectors, announces that on August 10, 2023 it
received an Issue Notification from the United States Patent Office
in respect of Patent # 11,741,263 entitled “Systems and Processes
for Lossy Biometric Representation”. This patent will be the
seventeenth issued to the company in addition to which the company
has an additional fourteen patent applications pending, including
one patent that has been approved but not yet issued.
Dr. Norman Poh, Chief Science Officer of the Company commented,
“This patent further strengthens our intellectual property
portfolio related to the tokenization of biometric data.
Regulators, consumers and enterprises are becoming very aware of
the risks associated with storing biometric images and templates
and our proprietary tokenization technology avoids those risks
while maintaining and indeed extending the utility of the data that
is stored. This technology can be utilized as a component of our
comprehensive identity validation services or overlaid on legacy
biometric service providers."
On August 1, 2023, Andrew Gowasack, President of Trust Stamp
announced a 31% increase in the Company’s financial services
customer base in the prior six-month period.
Trust Stamp will release its financial results for the second
quarter of 2023, together with an overview of its business
performance and strategy on August 14th, 2023.
Inquiries
Trust Stamp
Email: Shareholders@truststamp.ai
Gareth Genner,
CEO
About Trust Stamp
Trust Stamp the Privacy-First Identity CompanyTM, is a global
provider of AI-powered identity services for use in multiple
sectors including banking and finance, regulatory compliance,
government, real estate, communications, and humanitarian services.
Its technology empowers organizations with advanced biometric
identity solutions that reduce fraud, protect personal data
privacy, increase operational efficiency, and reach a broader base
of users worldwide through its unique data transformation and
comparison capabilities.
Located in seven countries across North America, Europe, Asia,
and Africa, Trust Stamp trades on the Nasdaq Capital Market
(Nasdaq: IDAI). The company was founded in 2016 by Gareth Genner
and Andrew Gowasack.
Safe Harbor Statement: Caution Concerning Forward-Looking
Remarks
All statements in this release that are not based on historical
fact are “forward-looking statements” including within the meaning
of the Private Securities Litigation Reform Act of 1995 and the
provisions of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. The information in this announcement may contain
forward-looking statements and information related to, among other
things, the company, its business plan and strategy, and its
industry. These statements reflect management’s current views with
respect to future events-based information currently available and
are subject to risks and uncertainties that could cause the
company’s actual results to differ materially from those contained
in the forward-looking statements. Investors are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date on which they are made. The company does
not undertake any obligation to revise or update these
forward-looking statements to reflect events or circumstances after
such date or to reflect the occurrence of unanticipated
events.
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