T Stamp Inc. - IDAI STOCK NEWS

Trust Stamp (Nasdaq: IDAI) has received a notice of allowance from the US Patent and Trademark Office for a new patent covering its liveness technology used in conjunction with its patented biometric encryption technology. The company's Chief Science Officer, Dr. Norman Poh, emphasized the importance of their liveness detection technology in defending against presentation attacks, citing the increasing threat of AI-powered attacks. JPMorgan's revelation of fighting off 45 billion infiltration attempts per day further underscores the need for advanced AI-powered defenses. This development showcases Trust Stamp's commitment to innovation and security in the face of evolving cyber threats.

Trust Stamp (Nasdaq: IDAI) reports that the number of customers using or implementing its Privacy-first, AI-Powered biometric technology via the Orchestration Layer has grown to 45 by the end of 2023. The company's President, Andrew Gowasack, expressed satisfaction with the progress made in 2023 and outlined plans for further growth and support for existing customers in the coming year.

Trust Stamp (Nasdaq: IDAI) has published a White Paper discussing the potential vulnerabilities of legacy biometric systems given the development of Quantum Computing systems. The paper addresses the immediate danger of “Harvest Now Decrypt Later” strategies and the impact on data security. Dr. Niel Kempson, Trust Stamp’s Executive Advisor on Technical Capability, highlights the risk of resource-rich adversaries executing HNDL approach to capture data for decryption when quantum computers become available. The paper emphasizes the need for enterprises and organizations to actively assess the HNDL risk when implementing or reviewing biometric systems, especially in light of the US Government's mandate for deploying symmetric encryption systems to protect quantum vulnerable systems by the end of 2023. It also discusses the quantum-proof IT2 algorithm developed by Trust Stamp and the challenges in standardizing post-quantum algorithms by NIST.

Trust Stamp (Nasdaq: IDAI) has filed a provisional patent application (USPTO: 63/611,799) for its new Stable IT2TM technology, a groundbreaking facial recognition technology designed for identity authentication, secure system access, and account protection. The technology uses a cryptographic token generated from a user’s facial biometrics to enhance security and user control over personal information.

Trust Stamp (Nasdaq: IDAI) partners with Scurid to enhance IoT device security and authentication. The partnership aims to revolutionize secure identification and authorization across diverse IoT deployments, addressing security challenges and establishing seamless authentication and authorization, fostering a more integrated connection between humans and machines.

Trust Stamp (Nasdaq: IDAI) partners with Partisia to launch GlobalSecure, a privacy-first biometric technology combined with Secure Multiparty Computation (MPC) to facilitate secure data flow and compliance with data protection regulations, enabling businesses to expand into emerging markets with limited cloud infrastructure and strict data localization laws.

Trust Stamp (IDAI) selected for ICBA ThinkTECH Accelerator program to develop fraud and identity management solutions for community banks. The program aims to support community bank needs, including analytics, automation, and compliance. Trust Stamp offers biometric identity solutions to combat synthetic identity fraud and protect personal data privacy. The company will receive mentorship and present their offerings at ICBA LIVE 2024 in Orlando.

Trust Stamp (Nasdaq: IDAI) provides an update on the adoption of its low-code Orchestration Platform, with 40 financial institutions currently using or implementing its Privacy-first, AI-Powered biometric technology. Since January 2023, 18 more financial institutions have commenced the process, bringing the total to 40. The company anticipates significant long-term usage-based revenue starting in 2024.

Trust Stamp (Nasdaq: IDAI) provides an update on the adoption of its low-code Orchestration Platform, announcing deployment for a Fortune 500 Insurance company. With the rise of online insurance processes, the threat of third-party fraud, including account takeover, has increased by 25 percent. Trust Stamp's privacy-first identity technology aims to better protect and serve customers opening new accounts, reinforcing its partner's commitment to over 5M clients and their families.