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Trust Stamp Receives Funding Commitment for Next Generation Medical QR Code

Written by Customer Service on . Posted in Public Companies.

Sliema, Malta, Feb. 09, 2022 (GLOBE NEWSWIRE) — Trust Stamp (Nasdaq: IDAI, Euronext Growth: AIID ID), a global provider of AI-powered, privacy-first trust and identity services announces the receipt of a funding commitment from Malta Enterprise for the development of a Medical-Record QR Code with next-generation features to augment existing COVID-19 digital certificate and verification systems.

Trust Stamp Malta’s Chief Executive Officer Josh Allen commented, “Existing certificate programs have been designed and implemented in reaction to the immediate and unprecedented needs created by the pandemic. This project is directed to the development of a next-generation digital health certificate that will complement all existing and future certificates and extend their functionality while placing the individual in control of their data.”

The technologies to be implemented in the Medical-Record QR Code include Trust Stamp’s proprietary Irreversibly Transformed Identity Token (IT2) which transforms biometric and other identity data into a secure identity token that cannot be reverse-engineered to recover the underlying data.

Trust Stamp’s Chief Innovation Officer Raman Narayanswamy commented, “This privacy-first approach to secure identity verification and data storage will enable users to control their own data and offers tremendous capabilities that include not just access to centralized medical data but also the potential for portable medical records that can be accessed offline for use in geographies or situations where online access is impractical.”

About Trust Stamp
Trust Stamp 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) and Euronext Growth in Dublin (Euronext Growth: AIID ID). Founded in 2016 by Gareth Genner and Andrew Gowasack, the company now employs over 100 people.

About Malta Enterprise

Malta Enterprise is the economic development agency for the Republic of Malta, tasked with attracting new foreign direct investment as well as facilitating the growth of existing Maltese companies and acting as an adviser to the Malta government on economic policy.

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.

Trust Stamp                                                         

Josh Allen, Chief Executive Officer Trust Stamp Malta Limited              

Nisha Naik, Executive VP of Communications

Email: Shareholders@truststamp.ai

Malta Enterprise                                                

Antoinette Cefai, Manager External Communications       

Email: antoinette.cefai@maltaenterprise.com

Davy (Euronext Growth Advisor)                    

Barry Murphy

Tel: +353 1 679 6363

Investor Relations                                              

Crescendo Communications

Tel: +1 212-671-1021

Email: idai@crescendo-ir.com

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