Trust Stamp Partners with Partisia and launches Global Secure Data
December 18 2023 - 9:30AM
Trust Stamp (Nasdaq: IDAI), the Privacy-First Identity CompanyTM,
providing AI-powered trust and identity services, has entered a
partnership with Partisia, a global pioneer and leader in
commercial-grade infrastructure for privacy-preserving Secure
Multiparty Computation (MPC) software solutions.
Nations are progressively insisting that the data of their
citizens be stored and processed within their jurisdiction or in
countries they recognize as providing equivalent data protection.
This can preclude the use of cloud resources and, in countries with
less developed technology infrastructure, limit their data storage
and processing options, as well as other vital implications.
Moreover, the demands of the GDPR make it more critical than ever
for organizations to implement better technological safeguards and
protective measures against data breaches.
By leveraging cutting-edge technologies such as Trust Stamp’s
Privacy First Identity Token (IT2) and Partisia's unparalleled
Secure Multiparty Computation technologies, GlobalSecure creates a
global infrastructure where data can flow securely while adhering
to local regulations and data protection guidelines and eliminates
the need to transfer data to third parties — against whom consumers
have limited to no data access rights. Computations can be
performed on encrypted data without revealing the underlying
information — thereby instituting an incorruptible privacy
safeguard against unauthorized access to third parties who may
violate their data-sharing agreement or fiduciary obligations to
engage in misconduct.
This innovative approach not only ensures data privacy and
security but also promotes cross-border collaboration and
innovation. It allows businesses to navigate regulatory landscapes,
expand into emerging markets, and thrive without being encumbered
by data-related constraints. Moreover, GlobalSecure aligns
with GDPR recommendations and safeguards against data breaches,
ensuring that data remains protected and confidential throughout
its journey, building on the principles of the ruling of the
Conseil d’Etat – France’s highest administrative judicial body, the
Danish Data Protection Agency’s guidelines/practice, and the
European Data Protection Board (EDPB) recommendations on using
MPC.
GlobalSecure plays a vital role in safeguarding data
confidentiality and facilitating the free flow of information.
These advancements are pivotal for businesses expanding into
emerging markets with inadequate data protection regulations,
limited cloud infrastructure, and strict data localization
laws. By ensuring compliance with regulations and providing a
secure environment, GlobalSecure enables businesses to explore new
opportunities in these markets, fostering innovation and economic
growth without the constraints of data-related challenges.
Enquiries
Trust Stamp
Email: Shareholders@truststamp.ai
Jonathan Patscheider
Partisia
Email: mark.medum.bundgaard@partisia.com
Mark Medum Bundgaard
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 nine 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.
About Partisia
Partisia is a global pioneer in Multiparty Computation (MPC) and
privacy-preserving computations. Partisia has sold commercial-grade
MPC software solutions since 2008, with an initial focus on secure
high-stake auctions used for trading energy and spectrum licenses.
Today, Partisia’s MPC solutions are sold as infrastructure across a
variety of services, from key management, data activation,
statistics, voting, e-cash, etc. The commercial activities include
spinouts like Sepior, that was recently acquired by Blockdaemon,
and Partisia Blockchain Foundation, a Swiss foundation that
organizes and launches a public blockchain built by Partisia.
Partisia is a privately owned company registered in Denmark. The
ownership combines internationally renowned experts in advanced
cryptography, software, and business development.
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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