Canada's Digital Ambition 2022: Public Consultation coming soon...
Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Digital Identity, Privacy, KYC, AML/ATF
Canada to Launch ‘Digital Ambition 2022’ Public Consultation For Digital ID Framework of Federal Public Services
Global Government Forum | Jack Aldane | Aug 16, 2022
Canada's Digital Ambition 2022: Public Consultation coming soon...
The government launched its Digital Ambition 2022 on 5 August this year:
- “a clear, long-term strategic vision for the Government of Canada to advance digital service delivery, cyber security, talent recruitment, and privacy”. The new strategy replaces the government’s Digital Operations Strategic Plan: 2021-2024.
- One key pillar of the ‘Ambition’ is digital identity, with emphasis on the need for government to create fast, straightforward ways to prove ID claims.
- “The COVID-19 pandemic highlighted the need for government services to be accessible and flexible in the digital age. The next step in making services more convenient to access is a federal Digital Identity Program, integrated with pre-existing provincial platforms.”
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The document reiterates a Treasury Board mandate set in late-2021 to work towards a common digital identity platform for public services.
See:
The Evolving Digital Identity Landscape
Liquid Avatar Releases Update to It’s Feature Rich Self-Sovereign Identity Mobile App
Mona Fortier, president of the Treasury Board of Canada Secretariat:
the Ambition would lay a solid foundation for the ever-evolving digital transformation of government” and would serve as “an important tool to support the focus shared across ministers and departments to identify and implement better ways to ensure Canadians receive high quality, accessible, and efficient government services. Having ownership of a digital credential would protect Canadians from identity theft and fraud.
Headwinds
One Global Government Forum reader wrote:
Digital ID is an often controversial topic, splitting public opinion around the issue of privacy. Canada risk[s] becoming “full out ‘Chinadian’. Goodbye to all freedoms and welcome to dictatorship.
See: Digital Identity Isn’t Only For People
Forier said:
Government had yet to instil trust in digital systems among the public. She suggested this could be improved through open collaboration between industry and government, as well as building diverse teams whose work reflects the concerns of Canadian citizens. We have a collective responsibility to break down organisational silos, address technical debt to promote quality over speed, and promote open data to foster transparency and trust.
The Canadian government has yet to provide details on when the its public consultation on digital ID might run.
Countries that have either implemented digital ID systems or are working on doing so include Estonia, Germany, the UK, and Australia, as well as the EU.
Continue to the full article --> here
View Canada's Digital Ambition 2022 government page --> here
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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NCFA Open Banking Thought Leadership Series: Privacy Policy
NCFA Canada | May 2022
Privacy Policy
This privacy policy describes our policies and procedures on the collection, use and disclosure of your information for the purposes of the National Crowdfunding & Fintech Association of Canada’s (NCFA Canada) Open Banking Interview Series. The Series will feature thought leadership and implementation insights from global Open Banking experts on NCFA Canada’s website. By agreeing to participate in the Series, you agree to the following terms.
Definitions
For the purposes of this policy:
- Organization (referred to as "the Organization", "we", "us" or "our" in this policy) means the National Crowdfunding & Fintech Association of Canada, 150 King Street West, Suite #200, Toronto, ON M5H 1J9;
- Country means Ontario, Canada;
- Personal Data is any information that relates to an identified or readily identifiable individual;
- Website means the website of the National Crowdfunding & Fintech Association of Canada, accessible at https://ncfacanada.org/;
- You means the individual accessing or using the Website, or other legal entity on behalf of which such individual is accessing or using the Website, as applicable.
Personal data collected
While using the Website, we may ask You to provide us with certain Personal Data that can be used to contact or identify You. The Data may include, but is not limited to:
- Email address
- First and last name
- Affiliated company or organization
- Job title
- Head shot image
- Social handle(s) (i.e., Linkedin)
Use of your personal data
The Organization may use Personal Data for the following purposes:
- To provide and maintain the Website, including to monitor the use of the Website.
- To contact You by email, telephone, SMS, or other form of electronic communication, such as a mobile application's push notification of updates or informative communications about the functionalities, products or contracted services, including security updates.
- To provide You with news, special offers and general information about other goods, services and events which we offer that are similar to those that you have already purchased or asked about unless You have opted not to receive such information.
- To manage and respond to Your requests.
- For other purposes such as data analysis, identifying use trends and the effectiveness of our promotional campaigns, and to evaluate and improve our products, services, marketing, and Your experience.
We will not share your personal information without your consent.
Retention of your personal data
The Organization will retain Your Personal Data only for as long as is necessary for the purposes set out in this policy. We will retain and use Your Personal Data to the extent necessary to comply with our legal obligations , resolve disputes, and enforce our legal agreements and policies.
Transfer of your personal data
Your information, including Personal Data, is processed at the Organization's offices and in any other places where the parties involved in the processing are located. Therefore Your Data may be transferred to — and maintained on — computers located outside of Your state, province, country or other jurisdiction where the data protection laws may differ from those in Your jurisdiction.
The Organization will take all steps reasonably necessary to ensure that Your Data is kept secure and treated in accordance with the policy. There will be no transfer of Your Data to a person or a country unless there are adequate controls in place for our compliance with this policy, data protection and privacy legislation applicable to us in Ontario, and the compliance with this policy of the person receiving the Data .
Security of your personal data
The security of Your Personal Data is important to us but remember that even with the best systems and controls, no method of transmission over the internet, or method of electronic storage is 100% secure. While we strive to use reasonable means to protect Your Data, we cannot guarantee its absolute security.
Contact us
If you have any questions about this policy, you can contact us by email: info@ncfacanada.org.
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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X-Border Payments: European Central Bank Report says CBDCs Could Be ‘Holy Grail’
PYMNTS | Aug 2, 2022
A central bank digital currency (CBDC) could be the “holy grail” for cross-border payments, offering a solution that is “immediate, cheap, universal in terms of reach, and settled in a secure settlement medium,” the European Central Bank (ECB) said in a recent report on identifying the ultimate cross-border payment medium.
“... the interlinking of domestic payment systems and the future interoperability of CBDCs are the most promising avenues,” according to the report, which also concluded that “... Bitcoin is least credible.”
The report points to the greater compatibility CBDCs have with forex exchange (FX) conversions, the upholding of monetary sovereignty, and easy instant payments via intermediaries such as central banks, the report indicated.
See:
PBOC White Paper: e-CNY’s Path to Cross-Border Payments
Half of Multinational Firms Use Digital Currency for Cross-Border Payments (or Plan to)
Some central bankers from the G20, however, have hinted that digital currencies issued by the private sector may have more utility than those issued by central banks. Australian central bank Governor Philip Lowe said at a panel discussion that he’s in favor of a private sector solution over the central bank.
The promise of using CBDCs for cross-border payments depends on the progress made regarding anti-money laundering and counter-terrorist financing compliance measures to ensure straight-through-processing (STP) for the large majority of cross-border payments, according to the report.
Continue to the full article --> here
Download the 59 page PDF report --> here
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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Kirk Simpson, Peter Carrescia and Kirk Simpson Raise CAD$6.5 million abd Launch Qui Identity
Betakit | | Aug 4, 2022
Kirk Simpson is just one month removed from stepping down as CEO of Toronto-based Wave, and about to embark on his next venture. Simpson has teamed up with early Wave investor Peter Carrescia to launch a company focused on decentralized identities, called Qui Identity. Things are moving fast for the pair: Simpson and Carrescia have secured $6.5 million CAD ($5 million USD) from a notable group of Canadian investors for what is essentially an idea.
The duo explained that they are still in the early stages, and yet to build a product, but are focused on accelerating the adoption of decentralized identity. The goal is to work with both consumers and businesses to make it easier and give them more control over how they share their digital information.
See: The Evolving Digital Identity Landscape
The Qui founders were able to raise the money for their idea so quickly because of their deep history and track record in Canadian tech. Simpson led Wave to its $537 million CAD exit to H&R Block in 2019, while Carresscia is known for being an early Wave investor as a founding member of OMERS Ventures alongside John Ruffolo. After a stint as head of Next Canada, Carrescia joined the Wave team in 2016 as senior vice president of strategy and corporate development, before departing to become a venture partner at Toronto-based VC firm Information Venture Partners.
“They have a proven history as entrepreneurs with Wave, and their success is unmatched,” said Satraj Bambra, managing partner at Round13 Digital Asset Fund, which led Qui’s round.
The challenge there was that companies had to run these verified data registries and it was all just within their own company walls, and it was hard to scale globally, especially in the consumer space,” he said. “But now that’s possible because of things like the blockchain. There are lots of smart people thinking about this space, don’t get me wrong, but the go-to-market has not been figured out,” Simpson claimed, citing a lack of control and trust between consumers, businesses, and third parties that share data.
See: Digital Identity Sins
“[The industry has] been very focused on folks that are passionate about Web3, and what I think we can bring is a lot of experience around how to build products that, at Wave, would be onboarding tens of thousands of small businesses every month,” said Simpson. “And to do that you need to make things really simple … That is what we can bring to this space, a bridge between Web2 and Web3 that brings some of this stuff more to the masses.”
Continue to the full article --> here
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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Intellectual Property and NFTs: What you need to know
Herbert Smith Freehills | Jul 25, 2022
Non-fungible tokens (NFTs) are one of the hottest intellectual property (IP) topics currently. NFTs can be used simply for marketing purposes or as a new form of asset to attract investment or as part of the transfer of products and services into the metaverse.
This new asset class has exploded across all sectors and raises some interesting challenges from an IP perspective. While NFTs have demonstrated themselves to be a powerful tool in the new digital era, they remain poorly understood.
NFTs can refer to or contain valuable intellectual property rights, for example, digital artwork, branded goods, or logos. Ensuring intellectual property rights are protected and respected should be a paramount consideration in NFT projects.
Releasing NFTs can give rise to a number of IP-related issues, such as:
- Who has the right to create and release NFTs
- Does the NFT infringe third party rights
- What rights are transferred with the NFT (and on resale)
- How this rights transfer is achieved
See: UK Court recognizes NFTs as ‘private property’
Even if there is no intention to create and release NFTs, brands must be vigilant to protect their IP in the metaverse and new web3 economy. Any strategy could include monitoring of key marketplaces and platforms, defensive registration of domain names (including the new Ethereum Name Service) and trade marks in new digital classes, and developing policies to employ if infringement is detected.
The quintessential use case for NFTs, to date, has been the sale and trade of digital assets like art, design and digital fashion. NFTs create scarcity for a digital asset that otherwise, because of their digital nature, would be capable of infinite dissemination.
The ability of NFTs to provide provenance over digital assets has also transferred into the real-world, and it is now common to see NFTs that are associated with physical products. For example, brands can now sell an NFT which is redeemable for a physical product (such as fine wine or sneakers), which creates a convenient market for the trade of those goods. The NFT also functions as an anti-counterfeiting tool to disrupt unlawful activities and tackle infringing copying of goods.
Misconceptions around the transfer of rights
The same is true of NFTs: the NFT is just a ‘certificate of authenticity’ for the digital asset, it does not intrinsically transfer any IP rights to the digital asset itself to the purchaser of the NFT. This has parallels to fine art, where the acquisition of a painting does not give the purchaser any right to the underlying copyright in the painting itself (unless there is an agreement with the copyright holder that specifies otherwise, or in some cases where the painting is a commission).
See: NFT Boom Will Surely Lead to Questions Over Copyright, Control and Plagiarism
Accordingly, as the default case, the purchase of an NFT does not assign (transfer) copyright or other IP rights to the purchaser. This default position can be amended by contract in a number of ways:
- the ‘smart contract’ by which the NFT is minted may contain provisions related to IP rights.
- the creators of the NFT may attempt to define the IP rights in relation to the NFT, before or after the sale of the NFT.
- The smart contract that is currently most commonly used for NFTs on the Etherium blockchain is known as the ERC-721 standard, which does not contain any special rules in relation to IP. A different smart contract, known as EIP-721, specifies that “Copyright and related rights waived via CC0“, with the reference to CC0 meaning that ‘creative commons’ is intended to apply to the NFT and the underlying digital asset, and that IP rights are waived on minting.
Continue to the full article --> here
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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Aftermath Islands Secures USD $25 Million Commitment from LDA Capital
Aftermath Islands Metaverse Limited | Jul 26, 2022
Utility Token purchase program provides opportunities to accelerate Metaverse growth
Barbados, British Virgin Islands, July 26, 2022 (GLOBE NEWSWIRE) -- Aftermath Islands Metaverse Limited together with Aftermath Islands Tokens Limited (“Aftermath Islands” or the “Company”) have secured a USD $25 million commitment with global investment group LDA Capital Limited, to accelerate Aftermath Islands’ product roadmap, adoption of the Aftermath Islands Metaverse and scaling the ecosystem while supporting the growth of NFTs, digital identity, multi-chain initiatives, play to earn programs, virtualization and blended reality, and other decentralized initiatives.
LDA Capital is proud to participate in the advancements brought by Aftermath Islands to the virtual worlds and games which will transform how players interact and transact with in-game collectible NFT’s. More importantly, the Company is an industry leader when referring to Digital Identity verification, enabling a whole new world of in-game interactions. Ultimately, Aftermath Islands is transforming science-fiction into history, and we are proud to be co-authors of this story.
See: Liquid Avatar Releases Update to It’s Feature Rich Self-Sovereign Identity Mobile App
According to Verified Market Research, the Metaverse Market size was valued at USD 27.21 Billion in 2020 and is projected to reach USD 824.53 Billion by 2030, growing at a CAGR of 39.1% from 2022 to 2030.
LDA’s commitment will support the long-term growth of the Aftermath Islands Metaverse. Aftermath Islands’ Metaverse showcases the use of digital identity to support safety, privacy and security and has adopted using high resolution graphics and pixel streaming to give users a fast, no-download, photo-realistic gaming experience on any device.
The USD $25 Million commitment provides for access to non-equity dilutive growth funds through the purchase of Aftermath Islands Utility Tokens based on the achievement of certain milestones, which Aftermath Islands expects to begin, but cannot guarantee to achieve towards the end of 2022. LDA also has an option to purchase equity in Aftermath Islands Metaverse Limited.
Warren Baker, Managing Partner, LDA Capital:
LDA Capital is proud to participate in the advancements brought by Aftermath Islands to the virtual worlds and games which will transform how players interact and transact with in-game collectible NFT’s. More importantly, the Company is an industry leader when referring to Digital Identity verification, enabling a whole new world of in-game interactions. Ultimately, Aftermath Islands is transforming science-fiction into history, and we are proud to be co-authors of this story.
Read: Understanding The New V2P and P2V Metaverse Commerce Models
David Lucatch, Managing Director of Aftermath Islands:
LDA’s commitment will support the long-term growth of the Aftermath Islands Metaverse. Aftermath Islands’ Metaverse showcases the use of digital identity to support safety, privacy and security and has adopted using high resolution graphics and pixel streaming to give users a fast, no-download, photo-realistic gaming experience on any device.
View the original release --> here
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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Analysis: Does Bill C-27 Reflect Lessons Learned from Past Public Outcry? Data Sharing for Public Good
Tersa Scassa | | Jul 11, 2022
[Note: This is my third in a series of posts on the new Bill C-27 which will reform private sector data protection law in Canada and which will add a new Artificial Intelligence and Data Act. The previous two posts addressed consent and de-identification/anonymization.]
In 2018 a furore erupted over media reports that Statistics Canada (StatCan) sought to collect the financial data of a half a million Canadians from Canadian banks to generate statistical data. Reports also revealed that it had already collected a substantial volume of personal financial data from credit agencies. The revelations led to complaints to the Privacy Commissioner, who carried out an investigation and issued an interim and a final report. One outcome was that StatCan worked with the Office of the Privacy Commissioner of Canada to develop a new approach to the collection of such data. Much more recently, there were expressions of public outrage when media reported that the Public Health Agency of Canada (PHAC) had acquired de-identified mobility data about Canadians from Telus in order to inform their response to the COVID-19 pandemic. This led to hearings before the ETHI Standing Committee of the House of Commons, and resulted in a report with a series of recommendations.
See: Why Data is the Lifeblood of a Modern Regulator
Both of these instances involved attempts by government institutions or agencies to make use of existing private sector data to enhance their analyses or decision-making. Good policy is built on good data; we should support and encourage the responsible use of data by government in its decision-making. At the same time, however, there is clearly a deep vein of public distrust in government – particularly when it comes to personal data – that cannot be ignored. Addressing this distrust requires both transparency and strong protection for privacy.
Bill C-27, introduced in Parliament in June 2022, proposes a new Consumer Privacy Protection Act to replace the aging Personal Information Protection and Electronic Documents Act (PIPEDA). As part of the reform, this private sector data protection bill contains provisions that are tailored to address the need of government – as well as the commercial data industry – to access personal data in the hands of the private sector.
Listen: Podcast: Bitcoin Privacy Interview with Matt Odell
Two provisions in C-27 are particularly relevant here: sections 35 and 39. Section 35 deals specifically with the sharing of private sector data for the purposes of statistics and research. Section 7(3)(f) of PIPEDA contains an exception that is similar to s. 35. Section 39 is entirely new. Section 39 deals with the use of data for “socially beneficial purposes”. Both s. 35 and s. 39 were in the predecessor to C-27, Bill C-11. Only section 35 has been changed since C-11 – a small change significantly broadens its scope.
Continue to the full article --> here
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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