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
How the Metaverse Could Change the Nature of Work
HBR | Mark Purdy | Apr 6, 2022
Imagine a world where you could have a beachside conversation with your colleagues, take meeting notes while floating around a space station, or teleport from your office in London to New York, all without taking a step outside your front door. Feeling under pressure with too many meetings scheduled today? Then why not send your AI-enabled digital twin instead to take the load off your shoulders?
While defying precise definition, the metaverse is generally regarded as a network of 3-D virtual worlds where people can interact, do business, and forge social connections through their virtual “avatars.” Think about it as a virtual reality version of today’s internet.
See: 7 Ways the Metaverse is Changing Enterprises
While still nascent in many respects, the metaverse has suddenly become big business, with technology titans and gaming giants such as Meta (previously Facebook), Microsoft, Epic Games, Roblox, and others all creating their own virtual worlds or metaverses. The metaverse draws on a vast ensemble of different technologies, including virtual reality platforms, gaming, machine learning, blockchain, 3-D graphics, digital currencies, sensors, and (in some cases) VR-enabled headsets.
Getting to the Metaverse
Many current workplace metaverse solutions require no more than a computer, mouse, and keyboard keys, but for the full 3-D surround experience you usually have to don a VR-enabled headset. However, rapid progress is also taking place in computer-generated holography that dispenses with the need for headsets, either by using virtual viewing windows that create holographic displays from computer images, or by deploying specially designed holographic pods to project people and images into actual space at events or meetings).
See: Lethbridge College heading into metaverse with online campus
Companies such as Meta are also pioneering haptic (touch) gloves that enable users to interact with 3-D virtual objects and experience sensations such as movement, texture, and pressure.
Teamwork and Collaboration
The metaverse promises to bring new levels of social connection, mobility, and collaboration to a world of virtual work. NextMeet, based in India, is an avatar-based immersive reality platform focused on interactive working, collaboration, and learning solutions. Its mission is to remove the isolation and workforce disconnectedness that can result from remote and hybrid work.
Faster Learning
The metaverse could revolutionize training and skills development, drastically compressing the time needed to develop and acquire new skills. AI-enabled digital coaches could be on-hand to assist in employee training and with career advice. In the metaverse, every object — a training manual, machine, or product, for example — could be made to be interactive, providing 3-D displays and step-by-step “how to” guides.
See: Bracing For Change In The Era Of The Augmented Workforce
Virtual reality role-play exercises and simulations will become common, enabling worker avatars to learn in highly realistic, “game play” scenarios, such as “the high-pressure sales presentation,” “the difficult client,” or “a challenging employee conversation.”
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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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Will The ECASH Act be the Answer to Privacy and Virtual Currency in the U.S.?
Elliptic | Apr 4, 2022
Some lawmakers are calling for a new form of money, one with all the technical outfittings of cryptoassets alongside the impenetrable privacy of paper cash. But can we really have our cake and eat it too? Responding to this call for more opaque digital payments, Representatives Jesús G Garcia and Stephen Lynch – both members of the House Financial Services Committee – have introduced the Electronic Currency and Secure Hardware (ECASH) Act.
See: Cashless society: We need to take digital jail seriously
EU Tightens Rules on Crypto Anonymity
While certain policymakers and stakeholders in the US are working hard to preserve the anonymity and privacy of cryptocurrencies, lawmakers in the European Union (EU) are moving in the opposite direction. On Thursday, the EU voted overwhelmingly in favor of draft legislation that would impose major restrictions on the overall anonymity of cryptoasset transactions by obligating total counterparty transparency for payments. This is a broadly unpopular position taken by EU regulators given the industry calls for anti-surveillance protections.
See: Designing a Central Bank Digital Currency with Support for Cash-Like Privacy
Under the new ruling, after a minimum payment threshold of 1,000 euros is met, exchanges will be obligated to collect and store information related to the transaction and its counterparties. These intermediaries would be required to obtain, hold and submit information on every single transaction. Additionally, there are ongoing discussions of incorporating any unhosted wallets under the new reporting obligations, which would effectively outlaw these unhosted wallets.
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Wired | Mar 28, 2022
The Future of Digital Cash Is Not on the Blockchain
If you want the privacy of paper money, you need something that leaves no paper trail.
When you hear the phrase “digital cash,” what comes to mind? Perhaps a payment app, like Venmo, that you use in situations that used to call for paper bills, like paying back a friend for dinner. Or maybe you think of cryptocurrencies. After all, the original Bitcoin white paper is titled “Bitcoin: A Peer-to-Peer Electronic Cash System.”
Research: Study on New Digital Payment Methods (report commissioned by ECB)
But none of these digital payment options are really like cash. Unlike paper money, they require both an internet connection and a bank account to use. Above all, they lack what has long made cash the preferred medium of civil libertarians, dissidents, and criminals alike: privacy. The only kind of money that leaves no paper trail is paper.
A bill introduced in Congress on Monday seeks to re-create the virtues of cash, privacy and all, in digital form. The ECASH Act would direct the US government to experiment with issuing digital dollars that are stored on hardware, not in bank accounts, and can be used without an internet connection. The idea of new, surveillance-proof currency will surely face skepticism within government. But with paper money on a slow path to extinction, the case for a real digital alternative will only grow stronger.
“In the grand scheme of things, distributed ledger versus regular ledger is almost irrelevant on the question of cash-like privacy,” says Rohan Grey, a law professor at Willamette University.
See: Interac and many of Canada’s leading financial institutions enhance Interac e-Transfer to introduce instant digital payments for businesses
The more meaningful distinction, he explains, is between two different currency models: tokens and accounts. When you pay for something with cash, you’re handing over a physical token. Whoever holds the token has the money, and there is no third party to the transaction. When you send a payment using Venmo, or a bank, on the other hand, you’re just directing them to update your account by moving some numbers around in their books. The same thing is true of cryptocurrencies; the only meaningful difference is that the network as a whole, rather than a financial institution, approves the transactions.
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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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Liquid Avatar Technologies Inc. Launches First-Ever Payment Card and Loyalty Program for the Metaverse
Liquid Avatar Technologies | Cara Buckspan | Mar 21, 2022
Users Have the Opportunity to Earn Points and Cash Back while Participating in Quests and Games by Shopping in the Aftermath Islands Metaverse
TORONTO, ON / ACCESSWIRE / March 21, 2022 / Liquid Avatar Technologies Inc. (CSE:LQID)(OTCQB:LQAVF)(FRA:4T51) Liquid Avatar Technologies, a global blockchain and fintech solutions company, focused on digital identity, integrated avatars and the Metaverse, is excited to announce the launch of the first-ever payment card and loyalty program created specifically for the Metaverse. The LQID card is a physical prepaid debit card powered by OptimizeFT's Engage360 payment card and digital banking solutions platform, available in the United States. The card can earn the holder cashback by shopping at Liquidshopz and earn points by participating in Aftermath Islands Metaverse activities.
See: Liquid Avatar Technologies and Dynamics Inc. Tap Payment Infrastructure for Verification of Digital Credentials
To activate an increased and widespread adoption of and participation in Metaverse experiences, Liquid Avatar Technologies is proud to be the first to attach loyalty and a loyalty earning payment card to purchasing land, products, games etc., in the Metaverse, in a manner people are already familiar and engaged with in the real world.
"We're excited to offer the very first payment card for the Metaverse, supporting individuals and entities as they engage in virtual activities," said Michael Konikoff, Chief Revenue Officer, Liquid Avatar Technologies Inc. "In addition to retail and online payment opportunities, users of the LQID card will be able to experience exciting Virtual Land and NFT opportunities at Aftermath Islands and other immersive experiences."
The loyalty program is aimed at driving incremental spend on the card and initially, within Aftermath Islands, increasing customer engagement, retention, and lifetime value. The ability to accept traditional forms of payment especially with a loyalty schema attached to it, lowers the barriers to entry and will set Aftermath Islands apart from other Metaverse experiences that only accept Cryptocurrency. Cardholders will be able to earn loyalty points whenever they use the card, both online and offline. When they transact in Aftermath Islands using their LQID card, they will not only earn loyalty points on the value of the transaction, but also get the double dip effect of earning loyalty points on the card as well. Accrued points can be redeemed for Aftermath Islands virtual gift cards that can be used when purchasing Virtual Land and other goods in the Aftermath Islands Metaverse.
See: Lethbridge College heading into metaverse with online campus
Liquid Avatar Technologies is a leader in the Metaverse through its development of Aftermath Islands, associated themed islands and utilitarian NFTs, customizable 3D Meta Avatars as part of the Meta Hero Project™, verifiable credential-backed digital identity, and partnering with Game Credits for the first-ever Multiverse Collective, a collaborative effort that will allow interoperability between two or more Metaverses. Liquid Avatar recently announced FAB and Vegas Islands, along with hover bikes and submarines as part of the Aftermath Islands experience, as well as its first mobile play-to-earn game - The Lost Kingdom of T'Sara - that will allow players to earn rewards by completing time and skill activities.
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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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Crypto’s humanitarian side in the time of War
Vox | | Mar 1, 2022
Cryptocurrency is now a more mainstream part of the global financial system, which means that — for better or for worse — it’s inevitably a part of international conflict, too. This is on full display as Russian forces invade Ukraine. Millions of dollars in crypto have flowed in to support Ukraine’s army and hacktivist groups. Even the Ukrainian government is now soliciting donations in crypto and has already raised more than $15 million. Some Ukrainians are also turning to crypto as an alternative to Ukrainian financial institutions, which are limiting people’s access to bank accounts and foreign currency. In a scenario where governments are in chaos, it’s difficult to rely on traditional banks, and there’s fear of surveillance. So a relatively anonymous system where no government is involved is appealing.
“The fact that it can’t be frozen, the fact that it can’t be censored, and the fact that it can be used without ID is very, very important,” Alex Gladstein, chief strategy officer at the Human Rights Foundation, told Recode. “And they are why bitcoin is such an important humanitarian tool.”
See: Amid Russian invasion Ukraine’s official Twitter account posts pleas for crypto donations
Just how useful an avenue crypto is for people in crisis or organizations in need of donations is up for debate. You need a relatively sophisticated understanding of technology to use crypto, and if you weren’t already set up for it, the onset of a war might not be the moment to try to do it. Plenty of donations to Ukrainian groups are flowing in just fine using more traditional currencies.
Ukrainians are using crypto — but there are limitations
Right now, at least some Ukrainians escaping the country seem to be taking their crypto with them, which they hope to convert back into fiat currency once they arrive to safety. Others seem to be looking toward crypto as a way to store their wealth as Ukraine’s economy collapses; the country’s central bank has already suspended electronic cash transfers and is blocking Ukrainian citizens from withdrawing foreign currency. Trading on the Ukrainian crypto platform Kuna reached its highest level since May 2021 this past Friday.
“In Ukraine right now, you can download a bitcoin wallet open source — totally unconnected from your ID — and you can generate an address via a QR code or an alphanumeric string,” Gladstein explained. “You can paste that to me, I can send you $1,000, and it goes through in a few minutes.”
See: Pomp: We Should Not Normalize Economic War On Innocent Civilians
Using crypto in the middle of a crisis isn’t necessarily easy. For one thing, you need an internet connection and a working device. You also need to know how to use crypto, which has a steep learning curve and is something people aren’t going to be able to pick up quickly in moments of crisis.
“It might work for some people, but they need first to unfreeze their assets, transfer them into digital currency, and then manage to get out [of the country], which is actually the main problem right now,” Coppi said. “And then when they’re out, hope it hasn’t devalued too much.”
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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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Pomp: We Should Not Normalize Economic War On Innocent Civilians
Substack | Anthony Pompliano | Mar 1, 2022
Russia’s invasion of Ukraine has led to a flurry of financial sanctions from the United States and their allies over the last week. These actions include cutting Russian banks off from SWIFT, seizing the assets of various Russian oligarchs, outlawing US citizens and companies from transacting with Russia’s central bank, and much more.
Sanctions are levied during times of conflict to apply pressure to the leadership of our adversaries, but they accomplish this goal by actually cutting the average citizen off from the global financial system. Nearly 150 million Russian citizens have watched their savings evaporate as the ruble is in a free fall, their stocks are inaccessible since the stock market was shut down due to high volatility, and they can not withdraw or spend majority of their money due to sanctions and self-imposed limits by the banks.
See: So what is financial exclusion in the era of Open Finance?
There was an interesting development in the last 48 hours that highlights one of the key differences between the legacy financial system and the new, digital financial system. Vice Prime Minister of Ukraine, Mykhailo Fedorov, asked major crypto exchanges on Sunday to block all Russian users from using their platforms, regardless of whether they were accused of participating in any crimes or not. This request was followed up on Monday with a similar request from the White House’s National Security Council and the Treasury Department to major crypto exchanges.
As of this writing, all major crypto exchanges have stated that they will not cut off the average Russian citizen from using their products to buy, sell, or store bitcoin and various other cryptocurrencies. The largest crypto exchange in the world, Binance, stated that they are “not going to unilaterally freeze millions of innocent users’ accounts.” The company spokesperson explained to CNBC that “Crypto is meant to provide greater financial freedom for people across the globe. To unilaterally decide to ban people’s access to their crypto would fly in the face of the reason why crypto exists.”
Kraken CEO Jesse Powell publicly stated that his platform “cannot freeze the accounts of our Russian clients without a legal requirement to do so.” He continued with this explanation:
See: How open finance ecosystems should generate value for everyone
“Our mission at [Kraken] is to bridge individual humans out of the legacy financial system and bring them into the world of crypto, where arbitrary lines on maps no longer matter, where they don’t have to worry about being caught in broad, indiscriminate wealth confiscation. Our mission is better served by focusing on individual needs above those of any government or political faction…Besides, if we were going to voluntarily freeze financial accounts of residents of countries unjustly attacking and provoking violence around the world, Step 1 would be to freeze all U.S. accounts. As a practical matter, that’s not really a viable business option for us.”
Ultimately, we are watching the divergence of two financial systems. The legacy infrastructure is built and run by a group of financial firms who are susceptible to the whims of their governments. The new infrastructure is built on open-source software that is run by no single individual or organization. The decentralized nature leads to a different outcome in these situations.
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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 Metaverse Showcases New Interactive Demo for Oculus Devices
Liquid Avatar Technologies | David Lucatch | Feb 24, 2022
TORONTO, ON and BRIDGETOWN, BARBADOS / ACCESSWIRE / February 24, 2022 / Oasis Digital Studios Limited ("Oasis"), a wholly owned subsidiary of Liquid Avatar Technologies Inc. (CSE:LQID)(OTCQB:LQAVF)(FRA:4T51) ("Liquid Avatar Technologies" or the "Company"), a global blockchain and fintech solutions company, focused on digital identity, integrated avatars and the Metaverse, is pleased to announce that its controlled subsidiary, Aftermath Islands Metaverse Limited ("Aftermath Islands") has completed its second pilot test activities designed for Meta's (formerly Facebook) Oculus system using the Quest 2 VR headset and hand controllers. The conceptual interaction with Dinosaurs, taken from the actual virtual experience, can be viewed here.
This is the second of many early-stage interactive experiences planned for Aftermath Islands as the Company is currently working to complete several initial pilots of virtual and interactive platforms and technologies, including but not limited to Oculus, as it assesses a range of initiatives for its first launch program expected for mid-2022. Future demos that may lead to full version experiences may include western gun fights, light sword dueling, survival training, virtual art galleries, entertainment, business events and more.
See: Liquid Avatar Technologies and Bonifii Make Verifiable Credentials Accessible for People and Financial Institutions in the Metaverse
As previously announced, other initial launch programs include virtual escape rooms, with award winning, real world and virtual escape room creator Hourglass Escapes LLC. and The Lost Kingdom of T'Sara, the upcoming P2E (play to earn) game which will allow users to gather resources and Credits for Aftermath Islands. Both these programs are currently in development for an expected Q2 beta launch.
As part of its Metaverse program, Aftermath Islands is developing the Aftermath Islands Explorers League, creating a virtual location for Aftermath Island virtual landowners and account holders to start their journey in Aftermath Islands, getting acquainted with new products, features and services and create their avatars. Users will be able to hone skills, share experiences, visit a virtual café and stores, engage with other users, participate in a variety of activities and transport to their favorite islands all from the Explorers League.
"We continue to accelerate experiences and new offerings at Aftermath Islands as well as throughout the entire Liquid Avatar Technologies organization, delivering world-class solutions for digital identity, avatars, NFTs and the Metaverse," said David Lucatch, CEO Liquid Avatar, Managing Director Oasis Digital Studios Limited & Aftermath Islands Metaverse Limited.
See: 7 Ways the Metaverse is Changing Enterprises
"This is the second pilot for the Oculus platform and further demonstrates our abilities to reach milestone activities and drive forward with a range of technologies and the first phase launch of Aftermath Islands Metaverse."
In addition to its recently announced premium virtual islands, Fab Island, Vegas Island and Cannabis Cove, additional premium theme islands are planned for release. Aftermath Islands Metaverse is working with brands and agencies and welcomes the opportunity explore partnerships that will create new and interactive virtual experiences for players.
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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How to protect your digital identity?
Guest Post | Feb 15, 2022
Technology makes our lives easier, but it comes with a price - security risks. Due to the rising cybersecurity threats and the time spent on digital devices, it’s obvious that people need to be aware of the dangers online. In the cyber world, there’s countless data that needs to be protected; otherwise, you’re putting your whole digital identity at risk.
Keep on reading to find out more about the concept of digital identity and how to remain safe online.
Digital attributes vs. digital activities
Similar to the identity in the real world, a digital one consists of multiple elements which identify the person. A standard ID scheme online consists of attributes, such as social security number, date of birth, vaccination code, and credentials, like an eID, digital driver’s license, or biometric-related ID number. Such information which completes your identity online can be parted into two categories: digital attributes and digital activities.
Digital activities are the records of something you do online. For example, it could be signed petitions, search history, the list of downloaded apps, etc., whereas attributes are parts of the online identity that make it fully digital - bank details, for instance, log-in information, email address, or medical history. Fraudsters target such data to use it against you. In most cases, scammers online use smart and unique methods for their benefit. That’s why it’s important to take security measures to prevent identity theft or data breach.
The players of technology
Digital identities are part of a wider ecosystem. Even though they are viewed as a tech trend, they are swiftly moving towards becoming the new norm. As technology improves and mobile usage increases, digital identities automate various processes; this way, they save time and money for various industries. Despite that, billions still don’t own a digital identity, which means that such people don’t have access to healthcare online, banking, and similar government services. The global pandemic showed that paper-like methods couldn’t compete with digital solutions; therefore, some state that digital identity approaches will be available for everyone in the near future as a legal standard document.
See: A new denim collection gives jeans a digital identity
The cutting-edge technology of digital identity is part of a bigger scene, as different parties create this trust mechanism. There are a lot of players in such a technology field. For example, the user of the digital identity is at the center of this bubble. The process needs to be enabled by another party; in this case, it’s powered by other technological components, such as smart cards, biometrics, or blockchain. Also, the whole system needs another party who manages the digital identity - a bank, for instance, which relies on the digital ID. The last vital component is the public which needs to approve and use this digital innovation.
Popular mistakes lead to risks
With digital identity comes mobility and a greater demand for security. Naturally, the demand for new identification systems is rising as well. This is no surprise, as according to ABI Research, more than 850 million citizens will be equipped with a form of mobile identity by 2026. With such widespread use of digital devices, it’s vital to make your cyber hygiene a routine of good habits online.
If you recycle your passwords and use weak credentials, you’re exposing yourself to risks. The same principle applies to using public WiFi - you’re practically opening a wide door and allowing hackers to strike. Not to mention unsecured websites; once you step a foot there, you’re living a security expert’s nightmare. For example, if you shop a lot online, make sure to check if the e-commerce store is reputable and has special security features like certificates.
Digital identity and the Black market
Once the data is lost, the chances are that you won't ever reclaim it. Scammers online succeed with data breaches by initiating ransomware attacks and gathering data through phishing scams. According to the Bureau of Justice, this type of criminal activity or any misuse of personal information for a fraudulent purpose falls under the “identity theft” fraud. The alarming numbers show that approximately 9 million identities are stolen each year. Since many people do not report identity theft, the proper number of victims might be higher.
Such a risky scenery shows that the need to safeguard data is necessary for everyone - from individuals to large-scale corporations. Criminals have developed a new tendency to target specific data, and, for example, credit card details or identities have become one of the most wanted products on the Dark web, claiming a spot at the top with pharmaceuticals and contraband. Since it’s relatively easy for hackers to steal personal information, online criminals sell such data quickly and cheaply, then move to their next scam.
Solving the issue
Digital identities carry the risks of identity theft and data breach. Despite these dangers, there are smart and efficient ways to combat fraud and eliminate the risks. As digital IDs automate the whole process, people have the option to undertake identity verification service online. This is the most speedy and safe way to confirm your identity on any device, such as your mobile phone. With the help of advanced Liveness Detection, ID Verification and Face Recognition, the experience becomes a user-friendly, quick 4-step online authentication.
Such an effective solution is a digital key to various services. For instance, ID verification is used in smart cities as an alternative to public transport tickets. Without digital IDs and the verification process, businesses leave wide security gaps in their system, basically waiting for criminals to attack. That’s why strong internal security measures and an automated, AI-powered identity verification solution prevent data breaches and help catch identity thieves.
Key takeaways
Digital identities bring benefits to the online world and many different sectors. Of course, where there’s technology, there is a certain risk of having your personal data given to the wrong hands. One thing’s clear, the truth behind identity theft or data breach isn’t rocket science. Safety measures, like good cyber hygiene, can prevent identity fraud. Of course, organizations should think about stronger security methods and implement innovative digital ID verification solutions to prevent identity fraud.
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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