Trust Stamp Inc has announced a funding commitment from Malta Enterprise for the development of a medical-record QR Code with next-generation features to augment existing COVID-19 digital certificate and verification systems.
“Existing certificate programs have been designed and implemented in reaction to the immediate and unprecedented needs created by the pandemic,” said Josh Allen, CEO of subsidiary Trust Stamp (NASDAQ:IDAI, EURONEXT:AIID) Malta Limited, in a statement.
“This project is directed to the development of a next-generation digital health certificate that will complement all existing and future certificates and extend their functionality while placing the individual in control of their data.”
READ: Trust Stamp appoints Joshua Allen as CEO for its Malta and Rwanda subsidiaries
Malta Enterprise is the economic development agency for the Republic of Malta, tasked with attracting new foreign direct investment as well as facilitating the growth of existing Maltese companies.
Trust Stamp (NASDAQ:IDAI, EURONEXT:AIID) said the technologies supporting the medical-record QR Code include the company’s proprietary Irreversibly Transformed Identity Token (IT2) -- which transforms biometric and other identity data into a secure identity token that cannot be reverse-engineered to recover the underlying data.
Trust Stamp (NASDAQ:IDAI, EURONEXT:AIID)’s chief innovation officer Raman Narayanswamy added: “This privacy-first approach to secure identity verification and data storage will enable users to control their own data and offers tremendous capabilities that include not just access to centralized medical data but also the potential for portable medical records that can be accessed offline for use in geographies or situations where online access is impractical.”
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