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
September 06 2023 - 8:30AM
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."
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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