Trust Stamp ® publicly addresses ethical issues in the use of biometric data in humanitarian projects
November 01 2023 - 1:32PM
Trust Stamp (Nasdaq: IDAI), the Privacy-First Identity CompanyTM,
providing AI-powered trust and identity services used globally
across multiple sectors, has publicly addressed its position
regarding the collection and use of biometric data in humanitarian
contexts, focusing on why there is a strong need for proper data
collection practices deployed during humanitarian interventions and
why traditional biometrics solutions often fall short of protecting
vulnerable people.
Jonathan Patscheider, President of Trust Stamp Denmark stated,
“The use of biometric data in humanitarian aid is undoubtedly a
double-edged sword. While it offers efficiency and accountability,
it also poses significant risks to vulnerable populations. Striking
a balance between these factors necessitates meticulous planning,
informed consent, and a deep understanding of the potential harm
that can arise, if privacy is not enforced. Humanitarian actors and
their donors need to commit to the fundamental data protection
principle of data minimisation, i.e. collecting, using and
retaining the minimum amount of data necessary for the purposes of
their service, and they should refuse to collect that data until
they can abide by the principles of data protection to the standard
that all of us deserve. Our work to meet the stringent D-seal
criteria is a testament to our dedication to customer security and
privacy. By voluntarily undergoing this comprehensive evaluation,
Trust Stamp has demonstrated its unwavering commitment to
responsible digital practices. Achieving the D-seal is not just a
label; it is proof of our dedication to consumer trust, and the
D-seal stands as a testament to our relentless pursuit of
excellence in the realm of identity verification, reassuring our
clients and users that their data is handled with the utmost care
and integrity.
By prioritizing ethical data practices and leveraging
responsible technologies, the humanitarian sector can navigate this
intricate terrain. Trust Stamp serves not merely as a technological
solution but as a testament to the possibility of harmonizing
efficiency with ethics. In this pursuit, Trust Stamp, in
collaboration with partners like Mastercard, illuminates the path
forward, ensuring that aid reaches those in need while upholding
the core values of humanity, neutrality, and impartiality that
define humanitarian work.”
Inquiries:
Trust Stamp
Email: Shareholders@truststamp.ai
Jonathan Patscheider
Vice President, Trust Stamp
Denmark
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 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.
T Stamp (NASDAQ:IDAI)
Historical Stock Chart
From Apr 2024 to May 2024
T Stamp (NASDAQ:IDAI)
Historical Stock Chart
From May 2023 to May 2024