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Trust Stamp Co-Founder Gareth Genner on the Impact of COVID-19

Gareth is the CEO & Co-Founder of Trust Stamp, a global AI platform securely authenticating identity online and offline, which…

The post Trust Stamp Co-Founder Gareth Genner on the Impact of COVID-19 appeared first on SeedInvest.

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Gareth is the CEO & Co-Founder of Trust Stamp, a global AI platform securely authenticating identity online and offline, which is currently accepting investments on SeedInvest. We sat down with Gareth to get his take on the impact of the COVID-19 pandemic and the resulting economic downturn, particularly within the identity space. [1]

1. What do you see as the greatest business challenges, especially for early-stage companies, during the COVID-19 crisis?
There is always an assumption of risk when investing in early-stage companies, and the current climate has elevated this. Many early stage companies have no significant revenue and a burn rate that is entirely dependent upon angel or venture capital backing that can evaporate at the first sign of distress. Sustaining and growing a business is capital intensive, and without 6-9 months or more of runway and/or a revenue stream minimizing the net burn rate, founders have to be feeling very nervous right now. Conversely, if a company has a minimal fixed overhead and the ability to adapt to the current environment, even the smallest startup should be able to find opportunities in a rapidly evolving marketplace.

2. What has been Trust Stamp’s response to these challenges so far?
Further, we recently launched a new technology that address the global crisis, Safe14, a secure location tracking solution that aims to slow the spread of COVID-19 while protecting individual civil liberties. This cryptographic artificial intelligence technology detects if someone has been in an at-risk location without exposing his or her identity. Safe14 uses identity-protecting technology to provide government and health officials with the granular information they need to address the spread of COVID-19, while protecting personal data. The tool aims to enhance trust on all levels of interaction between organizations and end-users.

It was great for our global team to be able to take an active role in addressing COVID-19 and take a new technology from idea to patent application. I am incredibly proud of the team’s innovation and energy in executing the project!

3. How has COVID-19 affected Trust Stamp’s business (if at all) and why do you think that is?
There are some client implementations that will now move more slowly as people adjust to new ways of working and assess the potential financial impact, but the need for secure identity solutions has increased. The move towards digital transactions continues to accelerate, the phase out of cash is becoming more imminent, and remote working and interaction are becoming a norm versus an exception. We have seen increased interest in technology that offers “privacy by design” and even more so if it is “touchless”. With employees increasingly working remotely, telemedicine booming, and even political events going virtual, we are now more than ever living online – establishing trust in a virtual environment is where we believe Trust Stamp excels.

4. What impact do you think the COVID-19 crisis will have, particularly on the identity space, over the coming months?
The world has seen a rush to “temporarily” implement mass surveillance systems that track a broad umbrella of personal information under the cover of COVID-19 containment. While global health is the absolute priority in these extraordinary times, we cannot let the “new normal” become blind compliance with identity systems that disregard individual security and civil liberties. That said, I do not want to be overly alarmist as I hope and believe that in most countries only the positive aspects of those systems will be allowed to survive, with thoughtful and appropriate safeguards put in place.

I do however foresee greater segmentation of identity systems across countries with varying socio-political norms. Access to “identity” is a key determinant in quality of life and economic mobility; a reality that we see daily through our work to elevate the billions of people that cannot prove an identity in developing parts of the world. However, there may be political systems that use the control and monitoring of identity to repress their people, and consequently, stifle their economies. Conversely, developing economies may choose to empower their people to achieve financial and societal inclusion with universal identity and enfranchisement, and I believe that those economies will see phenomenal growth, far in excess of the growth in most of the world’s developed economies.

A crisis can spark remarkable innovation, particularly socially responsible entrepreneurship, and just as our team’s mission has strengthened as we have seen threats to privacy, security, and civil liberties come sharply into focus, I hope that everyone in the identity space will be reinvigorated to focus on delivering identity-for-good.

5. How would an economic downturn affect Trust Stamp’s business?
Trust Stamp provides a service that is increasingly essential for all aspects of modern life, from purchasing everyday items to distributing humanitarian aid on a global scale. Any downturn affects society as a whole, both in our business and personal lives, from large corporations to the small businesses that use our SaaS products. However, the direct impact to Trust Stamp is blunted by the wide base of industries that our technology is applicable in. If there is an economic downturn, I believe our clients will have an even greater impetus to control losses from fraud and implement cost-efficient AI-powered systems.

6. Sequoia Capital published a note advising companies to “brace ourselves for turbulence and have a prepared mindset for the scenarios that may play out.” What steps is Trust Stamp taking to adapt to a potentially turbulent future?
Our core strength is rapidly envisaging, researching, developing, and delivering new technologies with an incredible team of AI-engineers and scientists. Our offices are typically coworking spaces, and our headquarters is a single office in a subsidized university incubator. Our main client contracts involve providing essential services for our long-term partners. Our clients really appreciated us reaching out and asking “What can we do to help?”, which only helps strengthen those relationships. Our mindset towards customer satisfaction and acquisition immediately shifted to identify changing client needs, and to establish whether our development roadmap should change to best meet those needs.

 

 

[1] These materials may contain forward-looking statements and information relating 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. Investors are cautioned not to place undue reliance on these forward-looking statements as they are meant for illustrative purposes and they do not represent guarantees of future results, levels of activity, performance, or achievements, all of which cannot be made. Moreover, no person nor any other person or entity assumes responsibility for the accuracy and completeness of forward-looking statements, and is under no duty to update any such statements to conform them to actual results.

Trust Stamp is offering securities through the use of an Offering Statement that has been qualified by the Securities and Exchange Commission under Tier II of Regulation A. A copy of the Final Offering Circular that forms a part of the Offering Statement may be obtained from: Trust Stamp: /trust.stamp

The post Trust Stamp Co-Founder Gareth Genner on the Impact of COVID-19 appeared first on SeedInvest.

Source: /blog/seedinvest/trust-stamp-covid-19

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Authorities Incinerate Nearly 15 Tons of Cannabis in Morocco’s Dakhla

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Rabat – Authorities in Dakhla, southern Morocco, incinerated 14.53 tons of cannabis resin and other drugs on July 4.

The south inter-regional directorate of customs said the incinerated drugs also included 6.33 tons of fragrant tobacco, 144,941 packs of cigarettes, and 150 kilograms of kif, a type of cannabis.

Authorities also incinerated 28 kilograms of tobacco leaves, 220 grams of tobacco powder, and 180 liters of gasoline.

Moroccan customs services estimate the value of the destroyed drugs at MAD 154 million ($15.887 million).

Security services in the Dakhla Oued Eddahab region seized the drugs in less than three months.

Representatives of local authorities and security services supervised the incineration. Taoufik Mohamed Abdouh, the authorizing officer of customs in Dakhla, said the operation reflects the efforts of Morocco’s security units to combat international drug trafficking and smuggling.

Abdouh said he is satisfied with the efficiency and mobilization of all security services, including customs, the Royal Gendarmerie, and national security to combat drug trafficking.

Saturday’s operation followed other recent security processes to incinerate large quantities of cannabis resin and other drugs in Laayoune and Dakhla.

On July 1, authorities incinerated 12 tons of cannabis resin, as well as 36 kilograms of kif and 29 hookahs.

On June 30, authorities incinerated 15 tons of cannabis resin, as well as 14 tons and 664 kilograms of fragrant tobacco, and psychotropic…

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Source: https://mmpconnect.com/authorities-incinerate-nearly-15-tons-of-cannabis-in-moroccos-dakhla/

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Best CBD Oil Company in Dublin & Ireland

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Best CBD Oil

Cannabidiol ( CBD ) is a fairly new health and wellness supplement that is not only taking Ireland by storm but also the rest of the world. Ireland’s legal CBD market is growing rapidly and these products can be purchased easily online or through the many retail stores dotted along our high streets.

In Ireland, CBD is legal and not included in the Misuse of Drugs Act like other cannabinoids found in the hemp plant. CBD is one of the primary compounds found in the industrial variety of cannabis sativa known as hemp. CBD is also not currently authorised as a medicinal product through the Health Products Regulatory Authority (HPRA), and no official medical or health claims have been made about CBD or its related products. The majority of CBD or hemp products are authorised and marketed as regulated food supplements, but this is not always the case. These regulations and laws are slowly helping develop a framework for a legal regulated CBD industry in Ireland.

Best CBD Oil
Best CBD Oil Ireland

Many products are marketed as CBD oil, CBD hemp oil and hemp seed oil are available on the Irish market. The oil is essentially the raw cannabinoid that is extracted from the cannabis plant. In legal terms CBD is only extracted from hemp, as well as contains no more than 0.2% THC (Tetrahydrocannabinol ), the psychoactive cannabinoid found in cannabis. A variety of extraction methods are used for processing hemp such as solvent methods using supercritical CO2 or ethanol to make hemp-derived foods or ingredients.

Hemp seed oil is exactly that, like any other vegetable oil, hemp seed oil is extracted from the cannabis sativa seeds using traditional cold-pressing methods. Hemp seed oil naturally does not contain CBD, but may contain traces.

CBDoily is an established company that provides a variety of premium lab-tested CBD products. These products are made from quality hemp grown in the USA and EU. Their products are THC free so you won’t have to worry about getting high. They are also both Halaal and Kosher certified as well as contain absolutely no GMO’s. This homegrown Irish company provides grade A+ lab-tested CBD made by reputable suppliers.

“We started this website to become the Number 1 CBD Oil Company in Ireland. In the last 5 years, we’ve been travelling around the US to find out more about the hemp and cannabis medicinal properties. We were so amazed by our findings that we decided to launch our store and a blog where we will share our experiences and findings. Every single person deserves to live a healthy life and we are proud to take our time and research the benefits of cannabis and hemp products.”

Best CBD oil

They don’t just offer CBD oil but also offer a wide variety of quality CBD products such as edibles, capsules, vape juice, creams and CBD oil for pets. A bonus is free and fast shipping for all orders over 60 euro. Try their friendly customer support service through their live chat feature on their website, they would be glad to answer any questions you may have about their products, before you make your purchase. CBD Oil Dublin, buy from a trusted company that delivers.

The post Best CBD Oil Company in Dublin & Ireland appeared first on Cannabis World.

Source: https://damweed.com/cbd/best-cbd-oil-company-in-dublin-ireland/

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Cannabis pharmacy hopes to open in Park City this fall

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Park City will be the site of the only cannabis pharmacy on the Wasatch Back at the Emporium shopping center on Kearns Boulevard. Deseret Wellness has secured an administrative permit but still requires a business license, which it has not yet sought. The firm is hoping the pharmacy will open this fall.
Alexander Cramer/Park Record

Add medical marijuana to the list of industries upended by the coronavirus.

Earlier this year, Utah officials envisioned the state’s 14 cannabis pharmacies would open in two waves, one in March and another in July, after medical cannabis was legalized in the state in 2018.

But July 1 has come and gone and only three locations are up and running statewide.

Deseret Wellness, the group behind the pharmacy planned in Summit County, says it will likely be this fall before the only location on the Wasatch Back will open.

Jeremy Sumerix, market president for Deseret Wellness, said the firm has been making progress since being named a license-designee in January, switching locations from a business park near U.S. 40 in Summit County to a Kearns Boulevard location within the Park City limits and securing an administrative approval from the city.

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The pharmacy will be located in a basement suite in the Emporium shopping center, 1351 Kearns Blvd. In mid-March, Park City granted Deseret Wellness, a New York and Pennsylvania-based LLC, an administrative permit for the site, and Sumerix said the firm is pleased with the progress.

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Source: https://mmpconnect.com/cannabis-pharmacy-hopes-to-open-in-park-city-this-fall/

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