Trust Stamp ® publicly addresses ethical issues in the use of biometric data in humanitarian projects

Rhea-AI Summary

Trust Stamp (Nasdaq: IDAI) has been awarded the D-Seal for its identity authentication technology used in humanitarian projects. The company emphasizes the need for proper data collection practices in humanitarian contexts and the risks of traditional biometrics solutions. Trust Stamp's commitment to customer security and privacy is demonstrated by achieving the D-seal, which reassures clients and users that their data is handled with care and integrity.

Trust Stamp has been awarded the D-Seal covering both IT security and responsible data practices for its identity authentication technology used in humanitarian projects

COPENHAGEN, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI), the Privacy-First Identity Company^TM, providing AI-powered trust and identity services used globally across multiple sectors, has publicly addressed its position regarding the collection and use of biometric data in humanitarian contexts, focusing on why there is a strong need for proper data collection practices deployed during humanitarian interventions and why traditional biometrics solutions often fall short of protecting vulnerable people.

Jonathan Patscheider, President of Trust Stamp Denmark stated, “The use of biometric data in humanitarian aid is undoubtedly a double-edged sword. While it offers efficiency and accountability, it also poses significant risks to vulnerable populations. Striking a balance between these factors necessitates meticulous planning, informed consent, and a deep understanding of the potential harm that can arise, if privacy is not enforced.

Humanitarian actors and their donors need to commit to the fundamental data protection principle of data minimisation, i.e. collecting, using and retaining the minimum amount of data necessary for the purposes of their service, and they should refuse to collect that data until they can abide by the principles of data protection to the standard that all of us deserve.

Our work to meet the stringent D-seal criteria is a testament to our dedication to customer security and privacy. By voluntarily undergoing this comprehensive evaluation, Trust Stamp has demonstrated its unwavering commitment to responsible digital practices. Achieving the D-seal is not just a label; it is proof of our dedication to consumer trust, and the D-seal stands as a testament to our relentless pursuit of excellence in the realm of identity verification, reassuring our clients and users that their data is handled with the utmost care and integrity. 

By prioritizing ethical data practices and leveraging responsible technologies, the humanitarian sector can navigate this intricate terrain. Trust Stamp serves not merely as a technological solution but as a testament to the possibility of harmonizing efficiency with ethics. In this pursuit, Trust Stamp, in collaboration with partners like Mastercard, illuminates the path forward, ensuring that aid reaches those in need while upholding the core values of humanity, neutrality, and impartiality that define humanitarian work.”

Inquiries:

Trust Stamp                                                   Email: Shareholders@truststamp.ai

Jonathan Patscheider

Vice President, Trust Stamp Denmark         

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 in six 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. 

FAQ

What is Trust Stamp?

Trust Stamp is the Privacy-First Identity Company that provides AI-powered trust and identity services globally.

What is the D-Seal?

The D-Seal is an award that covers both IT security and responsible data practices. Trust Stamp has achieved the D-Seal for its identity authentication technology used in humanitarian projects.

Why is proper data collection important in humanitarian contexts?

Proper data collection practices are important in humanitarian contexts to ensure efficiency, accountability, and protection of vulnerable populations.

What risks do traditional biometrics solutions pose in humanitarian contexts?

Traditional biometrics solutions can pose significant risks to vulnerable populations, and they often fall short of protecting them.

What does achieving the D-Seal mean for Trust Stamp?

Achieving the D-Seal demonstrates Trust Stamp's dedication to customer security and privacy. It reassures clients and users that their data is handled with care and integrity.

Who are Trust Stamp's partners?

Trust Stamp collaborates with partners like Mastercard to illuminate the path forward in harmonizing efficiency with ethics in the humanitarian sector.