Respect Network Founding Partners Collaborate With SWIFT Innotribe on Digital Asset Grid

OSAKA, JAPAN--(Marketwire - Oct 29, 2012) - SIBOS - At the Sibos international banking conference today, the Founding Partners of the Respect Network announced their collaboration with Innotribe, the innovation initiative of SWIFT, to develop the prototype infrastructure and first applications for the Digital Asset Grid, the new platform being proposed by SWIFT for secure peer-to-peer data sharing between trusted people, businesses, and devices.

"Innotribe selected Respect Network and its Founding Partners to collaborate on the prototype of the Digital Asset Grid because we shared the same vision of a global network for trusted data exchange," said Kosta Peric, Head of Innovation at SWIFT. "Together we have created a very compelling prototype of the Digital Asset Grid servers and several of the key new applications that we believe will propel adoption."

"The Respect Network's mission of building a trusted network for personal data exchange and SWIFT's vision for the Digital Asset Grid for safe sharing of all types of digital assets are perfectly aligned," offered Gary Rowe, newly appointed CEO of Respect Network and former President of market research firm Burton Group, now part of Gartner. "We look forward to the next steps in this collaboration to bring both the Respect Network and the Digital Asset Grid to market."

At Sibos, the Respect Network Founding Partners will demonstrate two prototype Digital Asset Grid applications. The first is the "Forever cloud address book", a new mobile app that solves the universal change-of-address problem (both person-to-person and person-to-business), saving consumers many hours of time and hassle and businesses many millions of dollars in customer service costs. The second is an "intentcasting" app, developed by Utah-based Kynetx, that turns online shopping upside down: rather than search for a product or service that meets your needs, you broadcast your intent-to-buy over the network and only merchants who meet your requirements will respond.

Respect Network launched the Founding Partner Program in the spring of 2012 to enlist companies committed to the strong personal data control protections of the award-winning Respect Trust Framework. Neustar, one of the world's leading trusted neutral network service providers, is the first Platinum Founding Partner. Swisscom, Switzerland's leading telecom provider as well as one of the most trusted brands in Europe, is a Gold Founding Partner. Other Founding Partners include Kynetx, Gluu, The Customer's Voice, Project Danube, Project Danube, Planetwork, Bitworld, Miicard, BioID, Virtrue, TrustCloud, Allfiled, OwnYourInfo, Edentiti, Ctrl-Shift and The Searls Group. Announced separately at Sibos were two new Founding Partners: Mydex and Disconnect.

Respect Network will soon begin inviting select global brands to participate in this new consortium, enabling them to empower and connect directly with customers in a way that has never been possible. For more information, visit www.respectnetwork.com.

About Respect Network Corporation
Respect Network is building the world's first trusted personal data network. All members subscribe to the Respect Trust Framework, the new model for personal data sharing that is listed with the Open Identity Exchange and won the Privacy Award at the 2011 European Identity Conference. Individuals can join the Respect Network today through the Connect.Me social business card and discovery service available at http://connect.me/.

About SWIFT
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,000 banking organisations, securities institutions and corporate customers in 212 countries and territories. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest. For more information visit http://www.swift.com/.

About Innotribe
Launched in 2009, Innotribe is SWIFT's initiative to enable collaborative innovation in financial services. Innotribe brings together strategists, business and technology leaders, trend-setters and trend-watchers, and thinkers interested in taking action and shaping the future. Innotribe fosters creative thinking in financial services, through debating the options (at Innotribe events) and supporting the creation of innovative new solutions (through the Incubator, Startup Challenge and Proof of Concepts (POCs). For more information visit http://innotribe.com/.