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Shares of Catenae Innovation (LON: CTEA) are climbing on Monday after the company said it was invited by the UK Government’s Department for Digital, Culture, Media and Sport (DCMS) to participate in developing a Digital Identity Policy.
The DCMS issued a draft ‘UK Digital Identity and Attributes Trust Framework' policy paper that sets out its vision for the rules concerning the future use of digital identities, with the policy being part of the Government's broader plan to make it easier for people to verify themselves using modern technology.
Digital media and technology firm Catenae said it will participate in a series of consultations with stakeholders over the next six months contributing from a future identity service provider's perspective.
“As a participant, we look forward to joining the discussions and highlighting the commercial benefits of the Digital Identity Policy, as well as advising how organisations should handle and protect people's data,” commented Guy Meyer, CEO of Catenae.
Elsewhere the company also said it is in discussions with Public Health Scotland to explore options around the automated transfer of Covid-19 test results to their Covid tracking database using Catenae's Covid-19 operating system.
The AIM-listed firm is already involved in a testing programme, uploading the associated Covid-19 test results into Public Health England's Point-of-Care Test Result Submission system.
Meyer said, on the discussions with Public Health Scotland, that the company was “pleased to be engaged with Public Health Scotland on the automated transfer of Covid-19 data to their own systems, and how Catenae's data management platform can assist with this.”
Catenae’s share price is up 15.79% at 2.2p after reaching highs of 2.50p earlier in Monday’s session.
Should you invest in Catenae Innovation shares? Catenae Innovation shares are traded on the AIM market of the London stock exchange (the alternative investment market) which is the sub market specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Catenae shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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