Trust Stamp ® announces groundbreaking technology for the global Alternative To Detention (“ATD”) Market
September 18 2023 - 8:30AM
Trust Stamp (Nasdaq: IDAI), the Privacy-First Identity CompanyTM
providing AI-powered trust and identity services used globally
across multiple sectors has announced the launch of its Tap-In
Band™, a wrist-worn, tamper resistant, hypoallergenic NFC band that
facilitates discrete check-in by, and communication with,
participants in community based supervision programs.
The Tap-In Band leverages the GPS and NFC technologies in the
user’s own mobile phone and allows the user to verify their
well-being and location by tapping the band to the phone, gaining
direct access to a personalized web portal with messaging and
two-way audio visual communications. The use of the Tap-In Band
augments facial biometric authentication using the phone’s camera
and Trust Stamp holds provisional patent #63/581,409 from the US
Patent and Trademark Office covering multi-factor authentication
using a tamper proof band and biometric authentication.
Unlike existing ankle and wrist worn technologies, The Tap-In
Band has no battery, removing perennial concerns about battery
failure and the inconvenience of charging, and does not itself
contain GPS tracking technology thereby reducing user apprehension
regarding intrusive monitoring. Removal of the Band results in the
Band permanently notifying tampering even if competently
repaired.
The Tap-In Band and associated biometric processes utilize Trust
Stamp’s patented IT2 identity tokenization processes that allow
users to biometrically authenticate without the need to store
biometric images or templates.
Gareth N. Genner, Trust Stamp’s Chief Executive Officer said,
“The Tap-In Band is the result of three years of market discovery
and development and is a game-changer. The band is
battery-free and has a fitness band-styled design that provides
secure authentication without imposing embarrassment or discomfort.
We are not publicly releasing images of the customizable aesthetic
design but I will say that the Band is available in a variety of
colors with optional design features that ensure that the
underlying use-case is not obvious to an onlooker.
The use of our IT2 identity tokenization, combined with data
flows that do not require any data to be received or processed by
Trust Stamp or any other vendor, ensure that the legitimate privacy
and safety concerns that are raised by legacy technologies are
removed with the Tap-In Band. While the Tap-In Band can be used for
continual monitoring programs, we believe that the highest and best
use is to support programs that require scheduled or randomly
triggered check-ins.”
Genner went on to say, “Alternative to Detention programs are
not only more humane than incarceration but also cost society a
fraction of the cost while having a high success rate. That said,
although over $440 million is spent on such programs in the United
States each year, their expansion is limited, at least in part, by
budgetary constraints. The Tap-In Band, combined with the user’s
own mobile device offers all of the utility of devices that are up
to 100x the capital and operational costs and the technology can be
quickly integrated into a wide range of community monitoring
programs with minimal capital investment.”
Inquiries:
Trust Stamp
Email: Shareholders@truststamp.ai
Gareth N. Genner
Chief Executive
Officer
About Trust StampTrust 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 six 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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