Trust Stamp Privtech helps government agencies protect against fraud
Trust Stamp has unveiled its new government-focused, privacy-first identity technology, Privtech, and reports it has received registered trademark status for the Privtech solution by the US Patent and Trademark Office.
The technology provides four customizable levels of privacy protection using the Company’s existing Privtech Certified structure and offers government agencies the ability to verify identity and protect against fraud, while minimizing the data collected and providing transparency as to its use.
Gareth Genner, Chief Executive Officer of Trust Stamp, explained, “Privtech technology utilizes our patented irreversibly transformed identity token (IT2), which allows users to be identified on a probabilistic basis without disclosing underlying biometric or other identity data.”
“Within the Privtech Certified structure there are four levels of privacy protection, of which Privtech Level Four is the most stringent with the entire enrollment and authentication processes taking place on the user’s own device, and only a randomized and encrypted one-time identifier ever leaving the device.”, Genner continued.
Dr. Norman Poh, Chief Science Officer of Trust Stamp, stated, “An IT2 can be created from virtually any modality of biometric together with most other types of identity data. In addition to the obvious benefit of privacy protection, the IT2 has numerous advantages when compared to legacy biometric templates, including computational efficiency, interoperability and cancelability.”
Gareth Genner further noted, “Government agencies need to balance safe and efficient interaction with digital users against minimizing intrusion into the user’s privacy. Unlike the typical biometric systems in use today, Privtech Level Four does not require data intermediation by a private sector vendor and does not require the user to provide the agency with their biometric data.”
“We have designed these solutions to meet the specific demands of government customers, which represent a very substantial and growing market opportunity. Ultimately, we believe that Privtech Certified products will define a new privacy-first approach to interacting with government agencies.”, Genner added.
The Company’s announcement is in the wake of substantial increases in technology-focused investments by government agencies including $80 billion in new funding for the Internal Revenue Service with a stated emphasis on improving taxpayer services and modernizing the agency’s technology and other infrastructure.