Emergent Technology will introduce identity verification through all of its platforms as part of its strategic investment with T Stamp (Trust Stamp), a company that provides identity authentication software. This will add identity and biometric hashing technology to the company’s payments and gold supply chain solutions.
Combining Gold & Identity Verification For Global Financial Inclusion
Emergent Technology Holdings (EmTech) is a technology company that seeks to elevate global commerce in emerging markets. The provider of the G-Coin token, Emergent Technology offers blockchain-based technology solutions via the gold industry.
Its solutions track responsibly-sourced gold from the mine, to refinery, to vault, and then digitize the gold into the G-Coin stablecoin, which can be used for global investing, spending and sending.
Trust Stamp™ is a software company that provides identity verification and portability by way of its artificial intelligence and biometric hashing technology. EmTech will deploy Trust Stamp’s technology across its Emergent Payments®, G-Coin™, and Responsible Gold™ brands.
Mitch Davis, the Chief Commercial Officer of EmTech has stated that the investment in Trust Stamp will help over a billion people who cannot officially prove their identity, gain financial inclusivity.
The Chief Commercial Officer said:
“Across our business, we strive to facilitate greater financial inclusion in emerging markets and identity is a central component. Over one billion people worldwide cannot officially prove their identity. This needs to be solved to bring more people into the global financial system, forcing us to think beyond government-issued IDs to biometrics and proof of life.”
How Trust Stamp Works & The Industries That Apply It
T Stamp provides an application featuring state of the art facial biometrics and proof of life tests that drum up accurate and unique digital identities. Users can maneuver the application on a mobile phone or computer by capturing a video or photo of their face.
The system will record and match the biometric data with a photo-ID, a public record or even social media to verify a user’s identity. The data will then be translated into a proprietary hash, which can analyze and attach trust or preference to interactions with businesses.
The Trust Stamp hash is currently in effect across several industries, such as fintech, banking, KYC/AML compliance, law enforcement, real estate and compliance.
In the state of New Mexico, the hash is piloted to fight human trafficking by the state’s Attorney General. It is also implemented in the city of Guanajuato, Mexico. There will be further rollout in additional US states.
Trust Stamp applications are also in use by members of the National Association of Realtors® in the U.S. for the verification of client identity. In the UK, members of the National Association of Estate Agents use T Stamp applications for full KYC/AML and onboarding functions.
The Trust Stamp Co-Founder Andrew Gowasack is excited to bring an identity authentication solution to EmTech, as it will make EmTech’s payments and stablecoin offerings stronger.
The Co-Founder said:
“We are excited to bring an identity solution to EmTech, its clients and partners. Trust Stamp’s technology will make EmTech’s compliance and customer authentication processes even stronger across their G-Coin and Emergent Payments offerings.”
EmTech will also employ Trust Stamp technology on its Responsible Gold platform for the gold supply chain. The supply chain uses a blockchain to track conflict-free gold from its mine, to refinery, to vault. It will also use Trust Stamp’s image technology to verify the authenticity, uniqueness and provenance of every gold kilobar lodged on EmTech’s Responsible Gold blockchain.
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