VANCOUVER, BC – (October 25, 2022) – CycurID Technologies Ltd., (“CycurID” or the “Company”), is pleased to announce that, in keeping with its strategic mandate, it’s on target to Boil the Ocean as it revolutionizes the digital privacy and authentication landscape.
CycurID has developed a proprietary digital authentication and privacy platform that gives users the power to own and control their identity. The identity software has broad and wide-ranging applications in almost all digital commerce sectors, including banking, WEB3, cryptocurrency/metaverse, and authentication/validation of both individuals and digital payments.
Gord Jessop, CycurID Co-founder and COO said, “Obviously we are being somewhat facetious about boiling the ocean but the fact of the matter is, we have built a phenomenal solution that is robust, scalable and is flexible enough to fit into most companies’ existing tech stacks quite easily.”
The CycurID solution addresses the extensive shortcomings with digital identity that currently exist in the marketplace, including challenges with onboarding, and ongoing threats of ID theft and privacy breaches. CycurID’s software incorporates adaptive artificial intelligence, biometric verification and zero-knowledge protocols to securely create a unique, personal, cross-platform digital identity for each user that is under the user’s control. No third-party software or human intervention is used in the validation and verification process, reducing the opportunity for personal information to be mishandled or accessed by unauthorized persons.
“The problems with ID theft and money laundering can be traced back to the fact that there is just too much personal information being shared and stored,” Jessop said “We have to rethink how much personal information is really required in order to transact online.”
CycurID, with its free to download consumer app, imme (pronounced ‘I’m me’), seeks to redefine how identity is used to affect the flow of goods and services on a global basis. By allowing users to keep their identity private and their information securely stored on their own device, imme puts the power of personal privacy back in the hands of its users.
“Our company is proactively addressing and resolving the keystone issues facing our digital society and not merely serving an agglomeration of existing processes, which many current suppliers in this market are doing. We offer identity verification and monitoring solutions that extend well beyond just being KYC/AML tools. Our technology is a cost-effective, secure step in the overall authentication and onboarding process, replacing the need for usernames, passwords and 2FA,” Jessop said.
No Offer or Solicitation.
This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any provinces, states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
CycurID Technologies Ltd is a privately held personal identity management and security software developer based in Vancouver, British Columbia. CycurID™ has developed proprietary patent pending identity management and privacy software which is available via its consumer app imme™ (I’m me). CycurID is registered with the Chamber of Commerce, Better Business Bureau, WorkSafe BC and with Fintrac as Money Service Business (MSB). CycurID™ and imme™ are Registered Trademarks of CycurID Technologies Ltd.
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Cautionary Note Regarding Forward-Looking Information
This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements including without limitation, expected growth and success of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates, and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates, opinions or other factors should change.
SOURCE: CycurID Technologies Ltd.