© Reuters.
ATLANTA – Trust Stamp (NASDAQ:IDAI), an identity verification company, has been granted a patent for its AI-powered hashing technology designed to transform biometric and other identity data into a secure identity token. The U.S. Patent and Trademark Office issued the notification for utility patent #11,936,790, with the patent set to be officially issued on March 19, 2024.
The technology behind the patent involves systems and methods for enhanced hash transforms, which are crucial for protecting clients against increasingly sophisticated security threats. Trust Stamp’s CEO, Gareth N. Genner, emphasized the importance of advancing AI-powered defensive technologies to safeguard against identified attack vectors.
This development adds to Trust Stamp’s growing intellectual property portfolio, which now includes 19 issued patents and an additional 14 provisional and pending patents. These achievements underscore the company’s commitment to research and development, as well as the innovation team’s quality and dedication.
Trust Stamp, founded in 2016 by Gareth Genner and Andrew Gowasack, is known as the Privacy-First Identity CompanyTM and operates globally, offering AI-powered identity services across various sectors.
These sectors include banking, finance, regulatory compliance, government services, real estate, communications, and humanitarian services. The company’s advanced biometric identity solutions aim to reduce fraud, protect personal data privacy, increase operational efficiency, and expand user reach worldwide through its unique data transformation and comparison capabilities.
The company’s shares are traded on the Nasdaq Capital Market under the ticker IDAI. Trust Stamp’s headquarters are located in Atlanta, with a presence across North America, Europe, Asia, and Africa.
This announcement is based on a press release statement and includes forward-looking statements subject to risks and uncertainties. Trust Stamp has not provided guidance on the potential impact of the new patent on its financial performance or market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
This story originally appeared on Investing
