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By 2025, biometrics will protect more than $3 trillion worth of financial transactions. That day can’t come fast enough for many businesses and financial institutions, who are already struggling to keep their security measures one step ahead of hackers, online black hats, and other cybersnoops intent on stealing or just controlling the flow of digital finances.
Merchants across the globe are expected to lose more than $20 billion to fraud this year, with phishing attacks alone prompting data security breakdowns and breaches for almost three out of every four UK businesses in 2021.
Meanwhile, even government agencies like the IRS are digging into taxpayer data as part of criminal investigations that could ultimately compromise nearly everyone’s digital privacy.
Passwords aren’t enough. VPNs aren’t enough. And sometimes, even personal identifiers like your own fingerprints or your voice pattern aren’t enough to keep your accounts and sensitive information safe from crooks.
That’s why Trust Stamp is already drawing lots of attention from banks and other institutions that depend on elite security measures. The company has opened up ground floor investment opportunities for those interested in backing their next-level security protection methods, which morph biometrics and other data into a digital token that can make accounts and other vulnerable data virtually impregnable.
Trust Stamp’s process is based on biometrics, but it uses that data to create what the company calls an Irreversibly Transformed Identity Token (IT2), a digital identity verification system that can be safely stored and even shared, while never compromising the customer’s identity or information.
Using fingerprints, voice scans, and other personal identifiers, Trust Stamp then strips in other data, while removing other key pieces, creating a uniquely identifiable token that allows an account to only be accessed by the rightful account owner.
Though implications of an unbreakable biometric identity key that already generated $3 million in 2020 sales are clear, Trust Stamp is ready to stretch beyond banks and the financial services sector into other areas facing huge security protection issues. For industries like healthcare, law enforcement, government, and more, Trust Stamp’s services can help gather customer information faster and help users feel better about the process, even while offering staunch new defenses against identity theft, fraud, and beyond.
While backing from current partners like Mastercard, Synchrony Financial, and 630 Cybersecurity Fund is already in place, Trust Stamp is offering ground floor investment opportunities for those ready to get involved in the potential future of data protection. Investors can check out more about the Trust Stamp process through their website, then purchase initial shares in the company for as little as $1,000.
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