Trust Stamp receives notice of a new patent issuance for identity authentication technology using social media and other user account access from the US Patent and Trademark Office
- Trust Stamp receives patent for identity authentication technology
- Positive progress in raising capital, growing customer base, and reducing operating costs
- None.
Atlanta, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI), the Privacy-First Identity CompanyTM providing AI-powered trust and identity services used globally across multiple sectors, announces that on August 15, 2023, Patent # 11,729,158 entitled “Systems and Methods for Identity Authentication via Third Party Accounts” was issued to the Company by the US Patent and Trademark Offices. This patent is the eighteenth issued to the company in addition to which the company has an additional thirteen patent applications pending.
Andrew Gowasack, President of the Company, commented, “Fraud comes in many flavors, and social media and similar peer to peer platforms can both serve as a breeding ground for fraudulent transactions and as a protection against them. This technology, while leveraging our core privacy-first technologies, provides an optional interlock between different types of user accounts benefiting from the strengths that each can offer in terms of user authentication to produce a more resilient user-centric ecosystem.”
Trust Stamp released its business update and financial results for the second quarter and YTD 2023 on August 14th 2024 reporting positive progress across all of its commercial objectives including raising new capital, substantially growing its customer base and reducing operating losses through substantial reductions in operating costs.
Inquiries
Trust Stamp Email: Shareholders@truststamp.ai
Andrew Gowasack, President
About Trust Stamp
Trust Stamp the Privacy-First Identity CompanyTM, 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 seven 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.
