Karsten Wenzlaff, Advisor
August 26th, 2025
Liquid Avatar Technologies | Cara Buckspan | Sep 13, 2021
Self-Sovereign Identity (SSI), Interoperability, Open Standards Central to Enabling Liquid Avatar Technologies and Others to Participate in Government’s Digital Credential Project
Toronto, Canada - TheNewswire - September 13, 2021 -Liquid Avatar Technologies Inc. (CNSX:LQID.CN) (OTC:LQAVF) (FRA:4T51) (“Liquid Avatar Technologies” or the “Company”), a global blockchain, digital identity, and fintech solutions company, today congratulates the Province of Ontario on the recent release of its technology and standards for a Digital Identity ecosystem. This government guideline “encourages private-sector market innovation” and should enable companies like Liquid Avatar Technologies who have existing digital wallets and digital identity solutions to carry government issued credentials provided they meet certain standards and requirements. Among these are: solutions that adhere to the highest online technology and security standards, adhere to key principles that support user privacy, enable self-sovereign identity to empower and protect users, are interoperable, and which incorporate open standards.
“Ontario is one of the first jurisdictions in North America to announce that it will issue and enable digital credentials"
– and it has been a great experience working with the government on this both directly and through our role in membership organizations like the Trust Over IP Foundation, the DIACC and the Covid Credential Initiative,” said David Lucatch, CEO and co- founder of Liquid Avatar Technologies. “This is a fast-moving, exciting space to be in, and with the direction the province has set with these guidelines we believe the government, the public, and Ontario’s growing tech sector will all benefit.”
Liquid Avatar Technologies has been a part of the ongoing consultations around the province’s plan to introduce a digital identification credential by the end of 2021 – Digital ID. Earlier this year, Liquid Avatar Technologies began to test its Liquid Avatar Verifiable Credentials Ecosystem (“LAVCE”) and Liquid Avatar mobile application to drive the provision of a digital wallet and digital identity, management and control solution for individuals and entities. These incorporate a fully functioning, self-sovereign platform that adheres to current technology standards and supports many of the themes and requirements articulated as both current and under consideration in last week’s Digital ID announcement.
On September 9th, the Company participated in the Linux Foundation Public Health Cardea project’s “interop-athon” and successfully demonstrated the LAVCE’s ability to issue, exchange, and verify digital health data with credential systems from other companies in the Cardea community. This accomplishment means that LAVCE’s ability to create and manage credentials for digital health information, such as proof of a valid COVID-19 test, vaccination, and/or exemption, can be used across multiple systems and platforms, thereby helping people to resume school, work, and travel in a way that increases public safety while preserving privacy and preventing fraud.
LAVCE’s successful demonstration illustrated the power of interoperable verifiable credentials as a way that can transform how we share and trust digital health and other information. The LAVCE platform can be easily integrated into healthcare facilities, testing labs, government agencies, schools, sports arenas, transportation, trade shows, and workplaces to confirm health status in a privacy preserving way and assist in efforts to reduce new outbreaks.
Liquid Avatar Technologies is a steering committee and voting member of the Trust over IP foundation, founding and steering committee member of Cardea, Node Operator for the Indicio Network, member of the Linux Foundation, DIACC, the Covid Credential Initiative and other industry foundations, ecosystems, networks, and utilities.
“The province of Ontario has acknowledged that the private sector has a role to play in expediting their goal of issuing a secure digital credential by the end of the calendar year,” said Lucatch. “The LAVCE platform, which enables users to manage their digital wallet and digital identification solution has completed its industry and interoperability testing towards availability to individuals. We are excited and believe that we are ready to leverage our infrastructure to enable the success of industry, business and government digital identity and verifiable credential programs.”
As part of the Company’s efforts to support our communities, Liquid Avatar Technologies has become a partner in the Toronto Region Board of Trade’s We’re Ready Toronto initiative to support the ensure a safe and sustainable reopening and recovery in the region and will be conducting a member only workshop on September 23, 2021, from 11 am to 12 pm Eastern titled, Vaccine Passports and Future Digital Credentials – How to protect employees, customers, and businesses.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Crowdfund Insider | | Sep 8, 2021
In 2010, venture capital investors poured $21.8 billion into startups. Fast forward a decade to 2020 when well over 500 “supergiant” funding rounds of $100 million+ were raised, totaling $142 billion.
In early 2021, even as global economies fought to shake off the effects of the pandemic, global venture investments were up a whopping 94% year-over-year. There’s no doubt that the investment community is increasingly buying what the private markets are selling. Yet there remains an undeniable barrier to growth we have yet to overcome—transparency in the private markets remains elusive.
Despite the explosive growth in private market investment, only a small fraction of the burgeoning primary capital that’s being deployed finds a level of transactional freedom that resembles public market trading. Currently, the only established paths to liquidity for private investors are major corporate events such as IPOs or mergers and acquisitions. One of the more novel strategies is the active and ever-evolving secondary market—the single legitimate escape hatch that offers relief from an otherwise extensive holding period.
While secondary transaction volume is growing, secondary markets remain highly decentralized, inefficient, and inaccessible for most. As a result, transaction volume remains minimal compared to public stock market activity. Each year, the public market raises $1.4 trillion and trades at an astounding rate of 33x annually. Meanwhile, $2.9 trillion of capital is invested into the private capital market, nearly double the public markets, but a mere $100 billion of that capital is being traded annually in secondary markets.
So, what’s behind this large delta?
Private markets remain illiquid and opaque with a lack of data transparency. Improved access will manifest itself in efficient trading platforms that streamline the transaction process. Unlike the highly transparent public markets, private markets operate under a much different policy. So while information about the company is shared by the issuer in the primary fundraising context, non-issuer-sponsored secondaries often involve significant information asymmetry, not necessarily by design, but by lack of structure and integration.
Today sophisticated secondary trading strategies rely heavily on trusted networks that serve to bridge the information gap. Without the advent of new infrastructure that makes reliable and trustworthy data readily available and integrates various systems of record, investors cannot evaluate risk or properly understand the value of the securities they are acquiring. Until secondary market participants can better understand private securities, expanding access to them will remain a distant prospect.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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GlobalRisk Community | Enrique Raul Suarez | Sep 3, 2021
A report published last year by the WEF-Carnegie Cyber Policy Initiative calls for the merging of Wall Street banks, their regulators and intelligence agencies as necessary to confront an allegedly imminent cyber attack that will collapse the existing financial system.
In November 2020, the World Economic Forum (WEF) and Carnegie Endowment for International Peace co-produced a report that warned that the global financial system was increasingly vulnerable to cyber attacks. Advisors to the group that produced the report included representatives from the Federal Reserve, the Bank of England, the International Monetary Fund, Wall Street giants likes JP Morgan Chase and Silicon Valley behemoths like Amazon.
The ominous report was published just months after the World Economic Forum had conducted a simulation of that very event – a cyber attack that brings the global financial system to its knees – in partnership with Russia’s largest bank, which is due to jumpstart that country’s economic “digital transformation” with the launch of its own central bank-backed digital currency.
More recently, last Tuesday, the largest information sharing organization of the financial industry, whose known members include Bank of America, Wells Fargo and CitiGroup, have again warned that nation-state hackers and cybercriminals were poised to work together to attack the global financial system in the short term. The CEO of this organization, known as the Financial Services Information Sharing and Analysis Center (FS-ISAC), had previously advised the WEF-Carnegie report that had warned much the same.
“Not a Question of If but When“
The Cyber Policy Initiative’s November 2020 report is officially titled “International Strategy to Better Protect the Financial System.” It begins by noting that the global financial system, like many other systems, are “going through unprecedented digital transformation, which is being accelerated by the coronavirus pandemic.”
Given the inevitability of this destructive event predicted by the report’s authors, it is important to focus in on the solutions proposed in the WEF-Carnegie report as they will become immediately relevant if this event, as predicted by the WEF and Carnegie Endowment, does come to pass.
Some of the solutions proposed are to be expected from a WEF-linked policy document, such as the calls for increased public-private partnerships and greater coordination among regional and international organizations as well as increased coordination between national governments.
However, the main “solution” at the heart of this report, and also at the heart of the WEF-Carnegie initiative’s other endeavors, is a call to fuse corporate banks, the financial authorities that essentially oversee them, tech companies and the national security state.
“This requires countries not only to better organize themselves domestically but also to strengthen international cooperation to defend against, investigate, prosecute and ideally prevent future attacks. This implies that the financial sector and financial authorities must regularly interact with law enforcement and other national security agencies in unprecedented ways, both domestically and internationally.”
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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SEC | Commissioner Hester M. Peirce | Aug 26, 2021
Speech delivered at The FINRA Certified Regulatory and Compliance Professional ProgramThank you, Jim [Angel], for that kind introduction. It is a delight to be here with you tonight to talk about the future of financial markets regulation. I commend all of you for putting in the time to understand better both the fundamental underpinnings and practical realities of securities law and the role it plays in our rapidly changing markets. Tonight, I look forward to exploring with you what that role should be as we look to bring more and more people into these markets as investors, entrepreneurs, and financial professionals. Before I begin, I must offer my standard disclaimer, which is that the views that I represent are my own views and not necessarily those of the Commission or my fellow Commissioners.
Several weeks ago, economist Steven Horwitz passed away. Hearing the sad news of his death inspired me to read one of his speeches, which was itself inspiring and helps to lay the groundwork for what I want to talk about tonight. Professor Horwitz spoke of how human diversity is the key to human prosperity. He wrote:
We are fortunate to live on a planet populated by 7.5 billion people, each of whom has his or her own unique genetic blends, learned skills, and particular preferences and goals. Each of us brings something distinct to the human conversation. The challenge is how to turn those differences into productive cooperation rather than destructive conflict in a world where most of the planet are strangers to one another. . . . The answer to this puzzle is exchange. Exchange enables us to overcome our differences by providing a way for us to interact not just despite those differences but because of them. . . . Contrary to what critics say, free markets do not shut the door on the most vulnerable among us. The door to prosperity is open to everyone.
Horwitz is not alone in celebrating the way markets push open the door to prosperity. Since at least the 18th century, economists and philosophers have marveled at the power of free exchange to break down barriers between people by creating the incentives for them to look past their differences to a shared interest that can transform those differences from a source of mutual suspicion and resentment into a creativity that far exceeds the sum of those differences.
Increasingly, though, we hear criticism that our economy and our financial markets do not in fact work for everybody, that they produce increasing inequality, exclude the disadvantaged, and discriminate in the provision of opportunities for employment and career advancement. Proposed solutions to these problems often appeal to people like you and me, regulators, regulatory experts, and lawyers who are paid to use our own ingenuity to design and implement technocratic solutions. The prospect of engaging in social engineering can be quite enticing to us, as it plays to our predilections and strengths. If, however, Professor Horwitz is correct—that people, left to their own devices, will come together in acts of mutual enrichment to exchange not only goods but ideas, capital, and labor—we should resist the allure and instead examine what our prior social engineering efforts have wrought. If we find that some individuals cannot access markets or cannot take advantage of opportunities that markets offer, our own solutions to past problems may be to blame.
Let us think tonight about how we might be able to open the door to prosperity wider for everyone through changes in how we regulate our securities markets. These markets have served the United States and the world well for centuries. We can spread the wealth and prosperity these markets create by ensuring that even more people participate in them as investors, users of capital, and financial professionals. During our time together tonight, I hope that instead of talking about the complex technocratic top-down approaches that appeal to our regulatory sensibilities, we can explore solutions that rely on regulators getting out of the way and allowing the market to do its work.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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