Trust Stamp Announces Notice of Allowance for New U.S. Patent Related to its Artificial Intelligence (AI) Based Biometric Authentication Technology
23 Maio 2023 - 9:30AM
Trust Stamp (Nasdaq: IDAI), the Privacy-First Identity Company™
providing AI-powered trust and identity services used globally
across multiple sectors, announced that it has received a Notice of
Allowance for an additional patent by the United States Patent and
Trademark Office related to its AI-powered, tokenized-identity
products. This Notice of Allowance follows three additional
patent applications announced in April, 2023.
The patent, titled: “Systems and processes for lossy biometric
representation," expands the IP protection around the Company’s
innovative biometric hashing technology used for subject identity
verification. Through neural network processing and
pseudorandom matrix multiplication, the technology in the patent
generates anonymized vector representations of biometrics that can
be compared to one another for verifying a subject’s
identity. These anonymized vector representations are
“lossy,” meaning not all information from the original biometric is
included in the anonymized vector representation. Generating
“lossy” representations allows for enhanced security when dealing
with a subject’s sensitive biometric data, while still allowing for
the anonymized vector representations to be compared to one another
with a degree of certainty high enough for identity
verification.
Trust Stamp has integrated the identity verification processes
from this patent into its Irreversibly Transformed Identity Token
“(IT2)” technology – a privacy-first solution that replaces
the storage and use of biometric templates with an irreversibly
transformed identity token, or IT², generated by AI. The use
of AI allows Trust Stamp to provide users with the benefits of
biometric-derived authentication without losing control of or
sharing their original biometric data. The IT² cannot be
reverse-transformed to recover the original data and thus offers a
privacy-protecting methodology to enjoy the benefits of
biometric-based authentication without the dangers of storing
biometric templates.
Dr. Norman Poh, Trust Stamp’s Chief Science Officer, commented,
“This latest Notice of Allowance marks an important win and
significantly enhances the IP around our AI-based authentication
technology. With over 30 patents now issued, allowed, or
pending, over the last seven years our team has developed a highly
defensible IP position that is now being productized across an
ever-growing range of use cases. The IT² represents an evolution of
biometric authentication that provides the subject with an
exceptional level of security, while greatly enhancing the utility
of the original biometric capture. These capabilities have
clearly differentiated Trust Stamp in the market, and industry
feedback has been extremely positive, resulting in a rapidly
growing commercial sales pipeline.”
About Trust Stamp
Trust Stamp, the Privacy-First Identity Company™, 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.
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.
Inquiries
Trust Stamp
Email: Shareholders@truststamp.ai
Gareth Genner, CEO
Investor Relations
Tel: +1
212-671-1020
Crescendo Communications, LLC
Email: idai@crescendo-ir.com
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