Trust Stamp receives notice of the issuance of its 18th patent from the US Patent and Trademark Office together with notification of an additional patent allowance further expanding upon the utility of its AI-powered tokenization technology
Atlanta, Sept. 06, 2023 (GLOBE NEWSWIRE) -- 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 29, 2023 it received a Notice of Issuance from the United States Patent Office in respect of Patent # 32742-149165 together with a Notice of Allowance on August 17, 2023 of Patent # 32742-1491643 both entitled “Systems and Processes for Lossy Biometric Representation". These patents will be the eighteenth and nineteenth issued to the company in addition to which the company has an additional twelve patent applications pending.
Dr. Norman Poh, Chief Science Officer of the Company commented, “These patents further expand our intellectual property portfolio related to the tokenization of biometric data and broaden our patent coverage. Patent # 32742-1491643 is particularly interesting in the context of the current debate over the appropriate role of AI in consumer-facing applications as it removes the necessity to use a neural network in our irreversible transformation process. Regulators, consumers and enterprises are becoming very aware of the risks associated with AI decisioning tools as well as storing biometric images and templates and this optional adaptation of our proprietary tokenization technology avoids all of 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."
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Gareth Genner, CEO
About 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.
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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.
