Trust Stamp Announces Groundbreaking Technology For The Global Alternative To Detention Market
Portfolio Pulse from Benzinga Newsdesk
Trust Stamp (NASDAQ:IDAI) has announced the launch of its Tap-In Band, a wrist-worn device that facilitates check-in and communication for community-based supervision programs. The device uses GPS and NFC technologies in the user's mobile phone for location verification and well-being checks. The Tap-In Band does not contain a battery or GPS tracking technology, addressing concerns about battery failure and intrusive monitoring. Trust Stamp's CEO Gareth N. Genner believes the device will support programs that require scheduled or randomly triggered check-ins and can be integrated into a wide range of community monitoring programs with minimal capital investment.
September 18, 2023 | 12:30 pm
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POSITIVE IMPACT
Trust Stamp's new product, the Tap-In Band, could potentially increase the company's market share in the community-based supervision programs sector. The device's unique features, such as no battery or GPS tracking technology, could make it a preferred choice for users, potentially driving sales and revenue for Trust Stamp.
The launch of a new product typically has a positive impact on a company's stock as it opens up new revenue streams. The Tap-In Band's unique features, such as no battery or GPS tracking technology, could make it a preferred choice for users, potentially driving sales and revenue for Trust Stamp. This could lead to an increase in the company's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100