Trust Stamp announces the allowance of a new patent taking its portfolio of AI-powered patents into data protection applications

Rhea-AI Summary

Trust Stamp (Nasdaq: IDAI) has been granted a new patent for an AI-powered personal identifiable information encoder, expanding its portfolio to include data protection applications. With a growing intellectual property portfolio, Trust Stamp aims to enhance security against cyber-attacks and ensure optimized privacy protection in compliance with regulations like GDPR.

Positive

• Trust Stamp expands its intellectual property portfolio with a new patent for a personal identifiable information encoder.

• The patent allows Trust Stamp to enter data protection applications, increasing its market potential and value.

• The company's focus on privacy-first identity solutions aligns with the growing importance of data security and privacy protection.

Negative

• While the new patent enhances Trust Stamp's portfolio, the actual market adoption and revenue impact remain uncertain.

• Competitive pressures in the AI and data protection sectors could challenge Trust Stamp's ability to capitalize fully on the new patent.

Trust Stamp has received a notice of allowance from the US Patent and Trademark Office for a new patent for an AI-powered personal identifiable information encoder

Atlanta, GA, May 02, 2024 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI) announced that the company has received from USPTO an allowance notification for utility patent #17/719,975 entitled,  “Personal Identifiable Information Encoder”.

Gareth N. Genner, Trust Stamp’s CEO commented, “With 20 allowed and issued patents, and another 13 patents provisional or pending, Trust Stamp has built a substantial intellectual property portfolio. Although many of our patents started out focused on providing privacy-first identity solutions derived from biometric data, they have a wide range of potential use cases reflected by our recent partnering agreements in diverse market segments. This patent addresses the universal need to ensure security against cyber-attacks as well as providing optimized privacy protection by only storing and sharing tokenized personal data. We believe that this patent has particular significance in the context of privacy legislation such as GDPR and data localization and we will be announcing specific implementations to that end.”

Enquiries

Trust Stamp                                                   Email: Shareholders@truststamp.ai

Gareth N. Genner, CEO ggenner@truststamp.ai

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.

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. 

FAQ

What is the new patent Trust Stamp has received?

Trust Stamp has received a new patent for an AI-powered personal identifiable information encoder.

What is the significance of the new patent for Trust Stamp?

The new patent expands Trust Stamp's portfolio to include data protection applications, addressing security challenges and privacy requirements.

How many patents does Trust Stamp currently have?

Trust Stamp has 20 allowed and issued patents, with 13 more provisional or pending, building a substantial intellectual property portfolio.

What market segments has Trust Stamp partnered with recently?

Trust Stamp has partnered with diverse market segments, reflecting the broad potential use cases of its patents.

How does the new patent contribute to privacy protection?

The new patent ensures security against cyber-attacks and optimizes privacy protection by tokenizing personal data, aligning with privacy legislation like GDPR.