Atlanta, GA, March 22, 2024 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI), the Privacy-First Identity CompanyTM:
In a decision delivered on March 7th, 2023, The U.S. Court of Appeals for the Fifth Circuit found that imposing age verification for access to pornography does not violate the First Amendment, partially overturning an injunction placed on the Texas House Bill 1181 by a District court in August of 2023. The appeals court found that the appropriate standard for review should have been a rational-basis and that age verification requirements can rationally be considered part of the legitimate interest the government has in restricting minors from accessing pornography. The court also found that biometric age estimation based on a facial image is allowable under the legislation and does not present a greater privacy risk than in-person age verification.
Trust Stamp President Andrew Gowasack commented, “This decision is a major affirmation of the urgent need and market potential for AI-based age estimation services. The Texas statute recognizes the risk of personal information being stored in potentially insecure environments and with Trust Stamp’s age estimation technology, no biometric data is ever stored. HB 1181 imposes substantial penalties on non-compliant sites and we believe that there will now be a rush to comply with the law. That aside, there are countless online and in-person use cases for age estimation services both to limit access by minors and to protect sites designed for use by minors from misuse by adults, and we believe that they all create substantial opportunities for our privacy-protecting AI-Powered solution.”
Enquiries:
Trust Stamp
Andrew Gowasack, President: agowasack@truststamp.ai
Investors: shareholders@truststamp.ai
About Trust Stamp
Trust Stamp the Privacy-First Identity CompanyTM, 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. Its technology empowers organizations with advanced biometric identity solutions that reduce fraud, protect personal data privacy, increase operational efficiency, and reach a broader base of users worldwide through its unique data transformation and comparison capabilities.
Located across North America, Europe, Asia, and Africa, Trust Stamp trades on the Nasdaq Capital Market (Nasdaq: IDAI). The company was founded in 2016 by Gareth Genner and Andrew Gowasack.
Safe Harbor Statement: Caution Concerning Forward-Looking Remarks
All statements in this release that are not based on historical fact are “forward-looking statements” including within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The information in this announcement may contain forward-looking statements and information related to, among other things, the company, its business plan and strategy, and its industry. These statements reflect management’s current views with respect to future events-based information currently available and are subject to risks and uncertainties that could cause the company’s actual results to differ materially from those contained in the forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company does not undertake any obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.
