Copenhagen, Denmark, Dec. 18, 2023 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI), the Privacy-First Identity CompanyTM, providing AI-powered trust and identity services, has entered a partnership with Partisia, a global pioneer and leader in commercial-grade infrastructure for privacy-preserving Secure Multiparty Computation (MPC) software solutions.
Nations are progressively insisting that the data of their citizens be stored and processed within their jurisdiction or in countries they recognize as providing equivalent data protection. This can preclude the use of cloud resources and, in countries with less developed technology infrastructure, limit their data storage and processing options, as well as other vital implications. Moreover, the demands of the GDPR make it more critical than ever for organizations to implement better technological safeguards and protective measures against data breaches.
By leveraging cutting-edge technologies such as Trust Stamp’s Privacy First Identity Token (IT2) and Partisia's unparalleled Secure Multiparty Computation technologies, GlobalSecure creates a global infrastructure where data can flow securely while adhering to local regulations and data protection guidelines and eliminates the need to transfer data to third parties — against whom consumers have limited to no data access rights. Computations can be performed on encrypted data without revealing the underlying information — thereby instituting an incorruptible privacy safeguard against unauthorized access to third parties who may violate their data-sharing agreement or fiduciary obligations to engage in misconduct.
This innovative approach not only ensures data privacy and security but also promotes cross-border collaboration and innovation. It allows businesses to navigate regulatory landscapes, expand into emerging markets, and thrive without being encumbered by data-related constraints. Moreover, GlobalSecure aligns with GDPR recommendations and safeguards against data breaches, ensuring that data remains protected and confidential throughout its journey, building on the principles of the ruling of the Conseil d’Etat – France’s highest administrative judicial body, the Danish Data Protection Agency’s guidelines/practice, and the European Data Protection Board (EDPB) recommendations on using MPC.
GlobalSecure plays a vital role in safeguarding data confidentiality and facilitating the free flow of information. These advancements are pivotal for businesses expanding into emerging markets with inadequate data protection regulations, limited cloud infrastructure, and strict data localization laws. By ensuring compliance with regulations and providing a secure environment, GlobalSecure enables businesses to explore new opportunities in these markets, fostering innovation and economic growth without the constraints of data-related challenges.
Enquiries
Trust Stamp Email: Shareholders@truststamp.ai
Jonathan Patscheider
Partisia Email: mark.medum.bundgaard@partisia.com
Mark Medum Bundgaard
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 nine 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.
About Partisia
Partisia is a global pioneer in Multiparty Computation (MPC) and privacy-preserving computations. Partisia has sold commercial-grade MPC software solutions since 2008, with an initial focus on secure high-stake auctions used for trading energy and spectrum licenses. Today, Partisia’s MPC solutions are sold as infrastructure across a variety of services, from key management, data activation, statistics, voting, e-cash, etc. The commercial activities include spinouts like Sepior, that was recently acquired by Blockdaemon, and Partisia Blockchain Foundation, a Swiss foundation that organizes and launches a public blockchain built by Partisia.
Partisia is a privately owned company registered in Denmark. The ownership combines internationally renowned experts in advanced cryptography, software, and business development.
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.
