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SureMark Digital CEO Scott Stornetta on efforts to fight AI deepfakes and identity fraud
CNBC Televisionยท 2025-08-15 11:21
Deepfake Concerns & Solutions - Deepfakes are a growing concern for individuals, politicians, and institutions, highlighting the need for solutions [1] - Seeing and hearing can no longer be fully trusted due to advancements in AI and deepfake technology [3] - Shawmut Digital applies blockchain principles to identity to protect users from AI fraud [1] - The company's solution involves a challenge-response mechanism to verify the identity of the caller [4][5] Blockchain & Cryptocurrency - Blockchain technology can be used for both good and ill [12] - Blockchain lays a secure foundation for stablecoins [12] - The integrity of the record is the core value of blockchain [12] - The company does not comment on personal cryptocurrency holdings [14] Target Audience & Applications - The solution appeals to public officials, enterprises, and individuals, offering different levels of protection [7] - VC firms, family offices, multifamily offices, and high-end money managers are key clients [8] - The solution addresses the "grandma scam" and potential fraud in electronic money transfers [7][10]