Trust Stamp announces a patent filing for a groundbreaking

ATLANTA, Jan. 04, 2024 (GLOBE NEWSWIRE) — Trust Stamp (Nasdaq: IDAI), the Privacy-First Identity Company^TM, providing AI-powered trust and identity services, has announced the filing of a provisional patent application for its new Stable IT2^TM technology.

Stable IT2 is a groundbreaking facial recognition technology designed for identity authentication, secure system access, and account protection. It uses a cryptographic token generated from a user’s facial biometrics to respond to cryptographic challenges and authenticate messages, enhancing security and user control over personal information.

At registration, Trust Stamp’s binding process combines a cryptographic key and biometric information to produce sketch and helper data that can be stored anywhere, including on edge wallets, mobile devices, or a distributed ledger.  The ultra-secure feature of Stable IT2 is that even in verification, neither the secret nor the biometric about the user is revealed.

During the authentication process, the system does not compare raw biometric data or biometric templates. Instead, it matches the tokenized representations, ensuring that biometric data is never exposed or stored. This tokenized matching is not only secure but also highly efficient, providing quick and accurate identity verification thereby reducing the risk of account takeover by attackers.

Dr Norman Poh, Trust Stamp’s Chief Science Officer commented, “When a company adopts Stable IT2, Trust Stamp’s technology integrates into the back-end of their existing systems to overhaul the facial recognition process. During the process, a user’s facial image is captured – typically via a selfie, and the image is then converted into a Stable IT2 token using Trust Stamp’s proprietary algorithm. This token, a complex cryptographic representation of the user’s facial data, is used for all subsequent identity verifications. During the authentication process, the system does not compare raw biometric data or traditional templates. Instead, it matches the tokenized representations, ensuring that the actual biometric data is never exposed or stored. This tokenized matching is not only secure but also highly efficient, providing quick and accurate identity verification”.

The Stable IT2 represents a user-centric approach to biometric authentication, keeping control of personal data in the hands of the user and requiring explicit consent for use, aligning with core user-privacy and data minimization and protection principles.  By replacing the back-end processes of traditional facial recognition with a tokenized matching system, Stable IT2 sets a new standard in the field of biometric authentication.

Enquiries:

Trust Stamp                                                   Email: Shareholders@truststamp.ai

Norman Poh, Chief Science Officer

About Trust Stamp

Trust Stamp the Privacy-First Identity Company^TM, 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 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.