Trust Stamp Secures USPTO Patent for Deepfake Defense Authentication

Trust Stamp (Nasdaq: IDAI), a technology company specializing in AI-powered identity authentication solutions, has received a notice of allowance from the U.S. Patent and Trademark Office for its patent application titled "Systems and Processes for Multifactor Authentication and Identification." This patent covers proprietary techniques that use anonymized data from historic attacks to detect and flag fraudulent activities in future transactions, addressing the rise of identity fraud exacerbated by Generative AI. CEO Gareth N. Genner highlighted the significant impact of identity fraud on American consumers, costing an estimated $47 billion in 2024, emphasizing the need for constantly evolving defense mechanisms. Trust Stamp's technology aims to reduce fraud, secure data, and enhance digital transaction security across multiple sectors, including finance, government, and healthcare. Despite these innovations, the company faces financial challenges, including declining revenue and negative profitability margins. Trust Stamp operates globally with a diverse team and trades on the Nasdaq Capital Market.