Copenhagen, Denmark, Dec. 28, 2023 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI), the Privacy-First Identity CompanyTM, providing AI-powered trust and identity services, has entered a partnership with Scurid, a global pioneer in delivering cutting-edge solutions for Industrial Internet of Things (IIoT) device identity and access management (IAM) platform, that enhances device identities through the incorporation of interoperability and data management functionalities. Scurid’s user-friendly platform, enables seamless connectivity among IoT edge devices,IoT platforms, databases, and other applications, allowing clients to implement secure autonomous IoT systems swiftly in their applications, and with a deployment base exceeding 1000 devices, Scurid has earned trust in production environments, providing their customers the ability to bring their innovations to market swiftly and securely.
In a strategic collaboration aimed at enhancing the smooth and secure interaction between humans and machines, Scurid has joined forces with Trust Stamp, to leverage the benefits of biometrics as it opens an avenue to elevate the usability and security of IoT devices. This partnership is poised to play a crucial role in fortifying a diverse array of emerging IoT and edge devices, effectively addressing security challenges, and establishing seamless authentication and authorization, fostering a more integrated connection between humans and machines
However, biometric data storage and transmission, particularly for IoT and edge devices, pose security challenges. Encryption, while common, is not foolproof, leading to potential breaches. Moreover, in biometric systems with extensive databases, the search process for a match can be computationally intensive and time-consuming, and encryption adds complexity, further slowing down system response time and accuracy. By utilizing biometric tokenization, like that of Trust Stamp’s IT2, it addresses these issues, providing performance and security. By transforming facial biometrics into a tokenized, irreversible form, the risk of unauthorized access or use of exfiltrated biometric data is significantly reduced.
Scurid, in synergy with Trust Stamp's biometric verification, has the potential to revolutionize secure identification and authorization across diverse IoT deployments such as fleet management, smart manufacturing, smart cities, and smart warehouses. This seamless integration forms a scalable, comprehensive solution, eliminating the complexities of traditional authentication and fostering a fluid, intuitive interaction between humans and machines. Scurid’s platform is not just secure but also highly adaptable, ensuring ease of integration with any existing platform without vendor lock-in. Its built-in capabilities replace the need for multiple toolchains, offering a well-rounded, self-sufficient solution. The decentralized core of Scurid’s device identity significantly reduces the risk and impact of security breaches, making it a cost-effective, reliable choice for dynamic device identity implementation. This approach paves the way for a new era in security dynamics, where users can grant access with unprecedented precision, reshaping the interaction between users and machines in the digital world.
This collaborative project between Trust Stamp and Scurid not only addresses security challenges in IoT and edge devices but also exemplifies the multifaceted uses of Trust Stamp's IT2 technology, showcasing its adaptability and efficacy in diverse sectors such as finance, healthcare, and government, where precise and secure identification is essential for fostering trust and efficiency.
Enquiries
Trust Stamp Email: Shareholders@truststamp.ai
Jonathan Patscheider
Scurid Email: sushant.pandey@scurid.com
Sushant Pandey
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 Scurid
Scurid is a software platform simplifying the adoption of secure digital hardware identity & data trustworthiness for IoT/IIoT devices. With Scurid’s easy-to-use low code and API-based functionalities for robotics, sensors, etc. we are enabling our users to accelerate the adoption of secure autonomous systems in industries like smart manufacturing, retail, fleet management and smart cities. Situated in Japan, Germany, and Denmark, Scurid boasts an international team and serves clients throughout these regions.
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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.
