T Stamp Inc, doing business as Trust Stamp Inc (NASDAQ:IDAI, EURONEXT:AIID), shares climbed about 6% in early Monday trading after the company announced that it has unveiled its proprietary biometric-binding technology as “the solution to the systemic failure of age-verification laws that are collapsing under real-world pressure”.
Trust Stamp said its announcement comes as the UK’s landmark Online Safety Act proves ineffective just weeks after enforcement began, and a “ticking time bomb" of similar legislation creates an imminent compliance crisis for companies across the US.
The company's technology is expected to address a market projected to reach $5.12 billion by 2033, according to Market Intelo’s Age Verification Solution 2023 Market Research Report.
Trust Stamp’s TrustedAge technology is a biometric key, permanently locked to one user, with a live biometric capture confirming the rightful owner is present for every session, making the credential worthless to anyone else, according to the company.
Its technology was tested in a case study under Australia’s Age Assurance Technology Trial for on-device processing.
The test found the technology to be suitable for deployment in the Challenge 25 policy area with a Mean Predicted Age of 18.2 against the Mean Actual Age of 17.81.
Trust Stamp stock is currently up $0.12 to $3.29.