With 15.8 Billion Records Breached Since May 2020, CycurID Announces a Revolutionary New Way to Protect Data, Identity, Authentication and Privacy
VANCOUVER, BC, June 6, 2022 /CNW/ - CycurID Technologies Ltd., ("CycurID" or the "Company"), is pleased to launch its reusable Personal Digital Identity Management and Privacy Platform.
CycurID (pronounced "Secure ID") is a cybersecurity company that has developed a proprietary reusable Personal Identity Management System that allows for the deployment of identity-based applications and solutions that can be used in any business sector both in the digital and physical worlds. Founded by fintech veterans Gord Jessop, COO, and Mehdi Mehrtash, CTO, CycurID has set out to fundamentally change the way digital trust is built and how personal identity affects the flow and exchange of goods and services.
The fundamental problem with how people transact online is with authentication of users. Up until now, users have had to share their personal data, putting individuals and businesses at risk. With over 15.8 billion records breached since May 2020, current security and privacy protocols are not doing an adequate job of protecting personal information that is stored by these businesses. CycurID simplifies the authentication process so that individuals can reduce the amount of personal information they share.
"When we founded CycurID, we did so with a few goals in mind," says Co-founder and COO, Gord Jessop, "One was to make consumers aware of the lack of control they have over their identity, and how third parties use/abuse it. Secondly, we want to redefine how digital identity can be used to create a digital marketplace that is safer, faster, and more accessible for both businesses and consumers. We believe that we have been able to achieve this."
More than a reseller or agglomerating third party technology, CycurID has developed a software with a person-centric focus; a secure, closed loop authentication process that prevents the leak of personal information to third parties.
"Businesses and consumers alike need a different way of viewing personal identity and how it interacts with the online transactional process. By placing consumers at the forefront, we have created an identity ecosystem that solves many of the problems plaguing both consumers and businesses in the current online environment."
"It is time for consumers to become aware of just how little control they have over their digital selves. CycurID's objective is to fundamentally change how people interact online and to empower all consumers and businesses to better participate in the $60 trillion per year digital marketplace by taking control of their identity with CycurID."
For more information about CycurID's complete suite of identity solutions, visit our corporate website https://cycurid.com or contact us through our contact page here.
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. CycurIDTM (pronounced "Secure ID") has developed proprietary patent pending identity management and privacy software which is available via its consumer app immeTM (pronounced I'm me). CycurIDTM is registered with the Chamber of Commerce, Better Business Bureau, WorkSafe BC and with FINTRAC as Money Service Business (MSB). CycurIDTM and immeTM are Registered Trademarks of CycurID Technologies Ltd.
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.
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