T Stamp Inc (NASDAQ:IDAI, EURONEXT:AIID) has announced the launch of its Tap-In Band, a wrist-worn, tamper-resistant, hypoallergenic near-field communication (NFC) band designed to support the compliance of individuals participating in community-based supervision programs.
Trust Stamp's shares moved higher on the news, adding 12.4% to US$2.35 late morning on Monday.
The company said the Tap-In band uses GPS and NFC technologies in the user’s mobile phone to allow them to verify their well-being and location by tapping the band to the phone, gaining access to a personalized web portal with messaging and two-way audio-visual communications.
It carries out facial biometric authentication using the phone’s camera and, unlike existing ankle and wrist-worn technologies, has no battery, removing re-charging issues.
It also does not itself contain GPS tracking technology, reducing user concerns regarding intrusive monitoring.
Trust Stamp CEO Gareth Genner described the Tap-In band, the result of three years of market discovery and development, as a “game-changer.”
“The band is battery-free and has a fitness band-styled design that provides secure authentication without imposing embarrassment or discomfort,” he said.
“We are not publicly releasing images of the customizable aesthetic design but I will say that the band is available in a variety of colors with optional design features that ensure that the underlying use case is not obvious to an onlooker.”
Genner added that Alternative to Detention programs are more humane than incarceration and can cost society a fraction of the cost while having a high success rate.
“The Tap-In Band, combined with the user’s own mobile device offers all of the utility of devices that are up to 100 times the capital and operational costs and the technology can be quickly integrated into a wide range of community monitoring programs with minimal capital investment,” he said in a statement.
Trust Stamp, which bills itself as the Privacy-First Identity Company, 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.
- Updated with share price movement -
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