Trident and the Ministry of Posts, Telecommunications, and Digital Technology of the Democratic Republic of the Congo Sign an Agreement for the Implementation of the National Digital Identity System

Rhea-AI Summary

Trident Digital Tech Holdings (NASDAQ: TDTH) has signed an implementation agreement with the Democratic Republic of the Congo's (DRC) Ministry of Posts, Telecommunications, and Digital Technology to deploy a national digital identity system. The agreement marks the transition from strategic planning to contractual execution, focusing on developing an integrated digital identity verification and authentication platform.

The system will feature robust data protection measures aligned with international standards, aiming to revolutionize citizen-government interactions and enhance government service delivery efficiency. The implementation will establish new standards for digital governance in Africa while creating a replicable model for developing nations.

According to Soon Huat Lim, Trident's CEO, the system will serve as the cornerstone of DRC's digital transformation, ensuring secure access to government services through verified digital identities. The DRC's Minister of Posts, Telecommunications, and Digital Technology emphasized that this initiative will create new opportunities for economic growth and social inclusion.

Positive

• Secured major government contract for national digital identity system implementation in DRC
• Potential for system replication in other developing nations
• Strategic positioning in the African digital transformation market

Negative

• Implementation costs and timeline not disclosed
• Revenue impact and contract value not specified

Insights

Technology Infrastructure Analyst

This implementation agreement with the Democratic Republic of the Congo represents a pivotal moment for Trident's expansion strategy and could significantly impact its revenue trajectory. The DRC's population of over 89 million citizens presents a substantial market opportunity, potentially establishing a strong reference case for similar projects across Africa.

The project's scope encompasses critical infrastructure components:

• Development of integrated digital identity verification systems
• Implementation of authentication platforms
• Creation of secure government service delivery infrastructure
• Integration of data protection measures aligned with international standards

From a revenue perspective, this project likely follows a multi-phase implementation model. Initial deployment typically generates setup fees, followed by recurring revenue streams from maintenance, updates, and per-user authentication fees. Based on similar digital identity projects in developing markets, implementation timelines usually span 24-36 months, suggesting a gradual revenue recognition pattern.

However, several critical factors warrant attention:

• Infrastructure challenges in the DRC could impact deployment timelines and costs
• Political stability risks may affect project continuity
• The need for extensive local training and support infrastructure
• Potential cybersecurity concerns in managing national-scale identity data

The strategic value extends beyond immediate financial returns. Success in this project could position Trident as a preferred provider for digital transformation initiatives across Africa, where numerous countries are pursuing similar digital identity programs. This first-mover advantage in a major African market could create significant barriers to entry for competitors.

SINGAPORE, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Trident Digital Tech Holdings Ltd (“Trident” or the “Company,” NASDAQ: TDTH), a leading catalyst for digital transformation in technology optimization services and Web 3.0 activation based in Singapore, today announced the signing of an implementation agreement with the Ministry of Posts, Telecommunications, and Digital Technology of the Democratic Republic of the Congo (“DRC” or the “Republic”). This agreement marks the beginning of the deployment of the national digital identity system.

This preliminary collaboration agreement signifies the operational launch of a comprehensive digital identification and authentication platform in the DRC. It formalizes the initial collaboration between Trident and the Democratic Republic of the Congo, transitioning from strategic planning to contractual execution.

The agreement outlines specific deliverables, including the development and deployment of an integrated digital identity verification and authentication system based on a secure infrastructure for delivering government services.

Furthermore, the system will incorporate robust data protection measures aligned with international standards, ensuring the security and confidentiality of citizens’ information. These fundamental elements aim to revolutionize interactions between citizens and the government, marking a major step toward a digitally integrated nation. This technology will also benefit citizens by enhancing the efficiency and security of government services while ensuring user control and consent.

Statements from Leadership

Soon Huat Lim, Founder, Chairman, and Chief Executive Officer of Trident, stated:

“The signing of this agreement represents a crucial milestone in our mission to provide the citizens of the DRC with secure and accessible digital identity services. By working directly with the Ministry of Posts, Telecommunications, and Digital Technology, we will implement advanced digital identity verification and authentication systems that will serve as the cornerstone of the DRC’s digital transformation. This implementation phase will focus on building a robust infrastructure, ensuring that every citizen can securely access government services through a verified digital identity.”

He added:

“The systems we are developing will establish new standards for digital governance in Africa while creating a replicable model for developing nations. This partnership is a prime example of how innovative technology can be leveraged to drive meaningful change in people’s daily lives.”

H.E. Augustin Kibassa Maliba, Minister of Posts, Telecommunications, and Digital Technology of the DRC, commented:

“The Digital Identity System is a key pillar in modernizing our country through digital transformation. With Trident, we will be able to provide our citizens with secure and efficient access to government services while protecting their personal data through advancements in blockchain technology. This partnership demonstrates our commitment to leveraging innovative solutions for the benefit of all Congolese. By implementing this digital transformation, we are not only building infrastructure but also creating new opportunities for economic growth and social inclusion.”

About Trident

Trident is a leading catalyst for digital transformation in digital optimization, technology services, and Web 3.0 activation worldwide based in Singapore. The Company offers commercial and technological digital solutions designed to optimize its clients’ experience with their end-users by promoting digital adoption and self-service.

Tridentity, the Company’s flagship product, is an innovative and highly secure blockchain-based identity solution designed to provide secure single sign-on authentication capabilities to integrated third-party systems across various industries. Tridentity aims to offer unparalleled security features, ensuring the protection of sensitive information and preventing potential threats, thus promising a new secure era in the global digital landscape in general, and in Southeast Asia etc.

Beyond Tridentity, the Company’s mission is to become the global leader in Web 3.0 activation, notably connecting businesses to a reliable and secure technological platform, with tailored and optimized customer experiences.

Safe Harbor Statement

This announcement contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in announcements and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, including the possibility that a definitive agreement will not be concluded as contemplated under the preliminary collaboration agreement discussed in this announcement, and the possibility that the e-GOV system will not materialize as contemplated under the preliminary collaboration agreement or a definitive agreement if and once concluded. A number of factors could also cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s strategies, future business development, and financial condition and results of operations; the expected growth of the digital solutions market; the political, economic, social and legal developments in the jurisdictions that the Company operates in or in which the Company intends to expand its business and operations; the Company’s ability to maintain and enhance its brand. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this announcement is as of the date of this announcement, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor and Media Contacts

Investor Relations
Robin Yang, Partner
ICR, LLC
Email: investor@tridentity.me
Phone: +1 (212) 321-0602

Media Relations
Brad Burgess, SVP
ICR, LLC
Email: Brad.Burgess@icrinc.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1627fdde-b97d-48f2-b2b9-f50149c37570

FAQ

What is the scope of Trident's (TDTH) digital identity system contract with DRC?

The contract involves implementing a comprehensive national digital identity verification and authentication platform for government services in the Democratic Republic of the Congo, including secure infrastructure and data protection measures.

How will TDTH's digital identity system benefit DRC citizens?

The system will enhance efficiency and security of government services, ensure user control and consent, and provide citizens with secure access to government services through verified digital identities.

What technology will TDTH use for DRC's digital identity system?

The system will incorporate blockchain technology and advanced digital identity verification and authentication systems with robust data protection measures aligned with international standards.

What is the strategic importance of the DRC contract for TDTH?

The contract positions TDTH as a leader in African digital transformation and provides a replicable model for developing nations, potentially leading to similar implementations in other countries.