T Stamp Inc (NASDAQ:IDAI, EURONEXT:AIID), dba as Trust Stamp, announced that it has entered into a partnership with Partisia, a global pioneer and leader in commercial-grade infrastructure for privacy-preserving Secure Multiparty Computation (MPC) software solutions, to launch GlobalSecure.
The AI-powered trust and identity services provider said GlobalSecure will play a vital role in safeguarding data confidentiality and facilitating the free flow of information, which is especially crucial for businesses expanding into regions with inadequate data protection regulations, limited cloud infrastructure, and strict data localization laws.
Trust Stamp noted that with its Privacy First Identity Token (IT2) and Partisia's unparalleled MPC technologies, GlobalSecure creates a global infrastructure where data can flow securely while adhering to local regulations and data protection guidelines and eliminates the need to transfer data to third parties — against whom consumers have limited to no data access rights.
Computations can be performed on encrypted data without revealing the underlying information — thereby instituting an incorruptible privacy safeguard against unauthorized access to third parties who may violate their data-sharing agreement or fiduciary obligations to engage in misconduct, according to the company.
Trust Stamp is a global provider of AI-powered identity services that empowers community banks with biometric identity solutions that reduce fraud, protect personal data privacy, and increase operational efficiency through unique data transformation and comparison capabilities.