Trust Stamp ® announces the issuance of a new patent covering the invention of a Personal Identifiable Information Encoder
Rhea-AI Summary
Trust Stamp (Nasdaq: IDAI) has been granted Patent No. 17/719,975 by the US Patent and Trademark Office for a 'Personal Identifiable Information Encoder'. This technology enables organizations to maintain the utility of personal identifiable information (PII) without storing highly sensitive data, enhancing data protection and privacy measures.
CEO Gareth N. Genner emphasized the importance of this innovation, stating that data protection and privacy should be non-negotiable for enterprises and government agencies handling PII. The new technology aims to help organizations fulfill their data protection obligations and mitigate potential damages from data breaches, addressing the ongoing issue of data losses across various sectors.
Positive
- Issuance of a new patent for Personal Identifiable Information Encoder
- Technology enhances data protection and privacy measures
- Potential to mitigate damages from data breaches
Negative
- None.
News Market Reaction – IDAI
On the day this news was published, IDAI declined 2.07%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
ATLANTA, GA, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI) has announced the issuance by the US Patent of Trademark Office of Patent No. 17/719,975 entitled, “Personal Identifiable Information Encoder."
Gareth N. Genner, Trust Stamp’s Chief Executive Officer, said, “Data protection and privacy should be non-negotiable for any enterprise or governmental agency that stores or processes personal identifiable information (“PII”). Despite frequent assurances as to secure storage and processing, we continue to see data losses across a wide range of organizations. This technology provides the means to maintain the essential utility of PII without storing highly sensitive data. Anyone processing or storing PII should embrace this technology to fulfill their data protection obligations and mitigate damage and losses in the event of a data breach.”
Inquiries
Trust Stamp Email: Shareholders@truststamp.ai
Gareth N. Genner
Chief Executive Officer
About Trust Stamp
Trust Stamp is a global provider of AI-powered services 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. Trust Stamp is located in six countries in North America, Europe, Asia, and Africa and trades on the Nasdaq Capital Market (Nasdaq: IDAI).
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
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