The white paper from Square’s new TBD division describes a protocol for exchanging digital and other assets in a way that’s more accessible to everyone.
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
The Evolving Digital Identity Landscape
Liquid Avatar Technologies | David Lucatch | Feb 9, 2022
How the current macro environment is changing the way we work, play, and engage online.
The last time you left home, you probably had at least 3 items with you that would prove who you are, most likely your mobile device, wallet, and keyring.
In the “real” world, we’re used to carrying personal identification, driving or taking public transit, and our keyring not only provides security to our homes, autos, offices, and other valuables, but also tells a bit about our personality, based on the type of keyrings, and fobs we have. Why should it be any different in the online world, and how can I prove who I really am online just as easily?
While the pandemic has held a grip over our daily lives, not until recently have we started to believe that things may get back to normal. This global crisis has also been a catalyst for digital identity.
Not only did our traditional lives change dramatically during this period, but so did our digital existence. Online gaming and digital content consumption went up 75% literally overnight. Amazon is our new best friend delivering almost daily. While it may have seemed novel initially, it became the new reality thanks to our kids being educated online and trying to keep up with friends and family via Zoom calls instead of getting together. It has also has meant finding reliable ways to stay in touch with our clients and business associates and doing more online, exposing ourselves potentially to additional security concerns and identity fraud. Now, more than ever, we need something that requires us to prove who we are.
See: Liquid Avatar Releases Major Update to their Digital Identity Mobile App
Digitally, we can be viewed as the sum of all our online “information” most or which has been controlled by corporations intent on mining your data for their overall benefit. However, continuing jurisdictional changes in privacy rules and data protection in many parts of the world have started to shift the power of data from corporations to the people.
As we spend more of our lives online, it will be essential to prove who we are when it comes to:
- Reduction of potential identity fraud
- Validation of online purchases
- eSports, online gaming, and social media
- Information and data services
- Education
- Government and Healthcare services
New technologies and innovations are changing the way digital identity and personal information is managed. We’re seeing healthcare passports, single sign on applications and digital wallets, but the key is for users to manage, control and benefit from this information and personal responsibility.
See: What Does The Financialization of Games Mean? GameFi
With over 300 million people in North America and over 5 billion people online globally, the market, tasks and opportunities are both enormous and daunting. Organizations like the Linux Foundation, Trust over IP Foundation, Cardea, The Lumedic Exchange, Liquid Avatar Technologies and other leading firms and organizations are working to help empower users from around the globe to be part of the digital identity revolution.
Authored by: David Lucatch, Co-Founder, President, Director & Chair of Liquid Avatar Technologies Inc.
Liquid Avatar Technologies Inc., through its wholly owned subsidiary KABN Systems North America Inc. focuses on the verification, management and monetization of Self Sovereign Identity, empowering users to control and benefit from the use of their online identity. The Liquid Avatar Mobile App, available in the Apple App Store and Google Play is a verified Self Sovereign Identity platform that empowers users to create high quality digital icons representing their online personas. These icons allow users to manage and control their digital identity and Verifiable Access and Identity Credentials, and to use Liquid Avatars to share public and permission based private data when they want and with whom they want.
This article is featured in NCFA's digital magazine, Fintech Confidential (Issue 4). Click to read the latest thought leadership, insights and trends about Fintech in Canada:
Checkout NCFA's digital magazine, Fintech Confidential (Issue 4) --> 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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Modernizing Privacy Law in Canada – Striking the Right Balance
PPT | Jan 17, 2022
In fall 2021, the Public Policy Forum convened a group of academics, lawyers, representatives from the private sector and members of civil society to revive discussions around modernizing privacy law in Canada under the Chatham House rule.
Overview
In fall 2021, the Public Policy Forum convened a group of academics, lawyers, representatives from the private sector and members of civil society to revive discussions around modernizing privacy law in Canada under the Chatham House rule. These conversations sought to explore five key questions of interest:
- How is Canada situated compared to other jurisdictions and countries, and with respect to inter-provincial differences?
- What are the priorities for changes to a modified Bill C-11: An Act to enact the Consumer Privacy Protection Act and the Personal Information and Data Protection Tribunal Act and to make consequential and related amendments to other Acts?
- Where are the widest gaps among experts and stakeholders on C-11, and are there different approaches, directions or principles that will help bridge them in effective legislation?
- Are there steps outside of modernized legislation that the private sector should be taking?
- Can a human rights approach co-exist with data-driven, private sector innovation?
See: Digital Identity Should Be A Big Business For Banks
On the question of how Canada is situated compared to other countries and jurisdictions, and with respect to inter-provincial differences, many participants expressed concern that a “patchwork” of frameworks are emerging as a few provinces (Alberta, British Columbia, Ontario and Quebec) have started to take the lead in modernizing Canada’s private-sector privacy laws. This may be an expression of policy impatience, whereby provinces are unwilling to “wait” for Canada’s federal government to modernize privacy law (through a revised Bill C-11) and instead seek to solve perceived gaps in private-sector privacy regulations.
So while this is a national conversation, it is increasingly a provincial one as well. Though the word “patchwork” came up with some frequency, it is possible to reframe this federated approach more positively as a productive opportunity for inter-provincial collaboration to develop a truly pan-Canadian, harmonized and interoperable private-sector privacy law that can both better protect Canadians’ privacy rights and better support innovation and the growth of business.
Continue to the 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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List of Digital Nomad Visas (TechPats) by Country
Nomad Girl | Tracey Johnson | Feb 2, 2022
Many countries, especially the one’s dependent on tourism, have seen their economies decimated by the Covid-19 pandemic. To offer relief to their economies they embark on bringing in long term stayers via specially designed visas for freelancers and digital nomads. The idea is those long term stayers, even though temporary, will make up for some of the shortfalls of tourism.
The pandemic has made so many people into remote workers, that now a lot more people classify themselves as location-independent workers. Whereas homeschooling used to be something that was frowned upon, now that people have experienced this for 6 months or longer, the idea of nomadic families has also got a boost.
Planning your next move as a digital nomad? Don't miss this essential guide on digital nomad visas for insights on where you can work remotely and travel seamlessly while living life to the fullest.
See:
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58 Must-Read Remote Work Resources | 50 Great Remote Working Resources
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Remote Working Cybersecurity Checklist
I have compiled a list of countries accepting long term remote workers, digital nomads or the newly coined word techpats (remote technology worker). Some of these programs already existed and some of these have newly designed visas for this.
Digital Nomad Visa Countries in Europe
- Georgia
- Croatia
- Czechia (Czech Republic)
- Estonia
- Iceland
- Germany
- Norway
- Portugal
- Spain
- Malta
- Greece
- Romania
- Hungary
Digital Nomad Visa Countries in the Caribbean
- Barbados
- Antigua & Barbuda
- Bermuda
- the Cayman Islands
- Anguilla
- Montserrat
- Dominica
- The Bahamas
- Curaçao
- Saint Lucia
Digital Nomad Visa Countries in North & Central America
Digital Nomad Visa Countries in South America
Digital Nomad Visa Countries in Middle East & Asia
Digital Nomad Visa Countries in Africa
In The Pipeline
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, artificial intelligence, 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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Are NFTs More Than Just Art?
Guest Post | Jan 26, 2022
Source: Unsplash
NFTs are the talk of online forums right now and big news. They work based on cryptocurrencies and allow digital art to be bought and sold online, with only one person having the rights to the art. The workings of NFTs can be complex, but it’s basically another way to buy and sell art, with the art being digital instead of physical. However, NFTs are more than just art. They can be almost anything that is digital, including sounds or other images. They can even be online personas or social media posts. When it comes to NFTs, the sky is the limit.
Avatars for Games or Videos
Avatars are increasingly being used online. In use for many years in games, they’re also becoming popular in videos or during online meetings as a way to be present without having a camera on. Anyone can build an avatar of themselves, keeping it realistic or adding to it to create an entirely new persona. Once built, the avatar can be used by the owner for just about anything. Avatars can be purchased as NFTs now, allowing someone to purchase another person’s avatar to use for themselves.
Gaming Assets
In the gaming world, players have long been able to purchase or trade various assets. Online games allow players to trade various items, make purchases for anything in the game, or even trade the login info for the games. This means new players won’t have to start at the beginning – they can start at a higher level by buying someone else’s game. Today, this is taken a step further, as assets in games can be NFTs. Players can buy and sell the assets, giving them complete rights over the asset once they own it.
Short Videos or Animated Images
Sending cute gifs or short videos to friends is something that has been done just about since the beginning of videos on the internet. It wasn’t possible to own a gif, just to create one and share the ones that others have created. Now, however, it is possible to become the owner of a gif. Instead of being shared, they can now be sold or purchased. Anyone can still view the gif and trade it with others, but only one person will be able to say they own the gif in question.
Social Media Posts
A social media post is automatically owned by the person who created it. This is true for any writing that’s done unless the writing is then sold. Until now, it hasn’t been possible to sell social media posts. People can copy and share them, which is done frequently to spread news or items of interest, but only the original creator would own it. In 2021, however, Jack Dorsey sold his first tweet. Selling for more than $2.9 million, the buyer receives ownership over the tweet. It still remains on Jack Dorsey’s Twitter feed, but now it includes a virtual autograph owned only by the winning bidder. Proceeds from this sale did go to charity.
Images
Any images can be sold as an NFT. This includes unique and original images that are created. If someone designs a logo, for instance, it can be sold as an NFT to the buyer. If someone creates a unique image, they can then sell the image as an NFT. Images have been sold online in the past, but this creates another way to sell them. Plus, with the high value of NFTs, it can be possible to make a significant amount of money from the sale of a single image, where that image may have sold for much less in the past.
Other Digital Collectibles
Almost anything digital can be sold as an NFT. The NFT just authenticates it for the buyer and proves ownership over the item. It can then be sold again, with the ownership transferred to the buyer or held onto for years. For buyers, this provides the opportunity to own something that couldn’t be owned in the past or that would be difficult to prove ownership for previously.
See:
This would include many different types of digital items, since proving ownership over a digital piece can be hard. Since NFTs are done through cryptocurrencies, they’re generally for anything that might be collectible. Anything, however, can be considered a digital collectible, especially if the buyer values it. This means just about anything can be sold as an NFT online, as long as it’s possible to authenticate it.
NFTs are gaining a lot of traction for being a new way to purchase and sell online art. However, they’re a lot more than just art. NFTs can include a variety of other digital items and collectibles, from social media posts to gifs or other images. The above are just a few examples of how this works and how almost anything can be bought or sold as an NFT today.
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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Trust Over IP Foundation Publishes V2.0 Introduction and Design Principles
Trust over IP Foundation | Jan 24, 2022
When it was launched in May 2020, the ToIP Foundation summarized its mission in a single 20-page white paper called “Introduction to Trust Over IP”. This paper was based on an article called The Trust Over IP Stack published in the December 2019 special issue of IEEE Communications Standards Magazine called The Dawn of the Internet Identity Layer and the Role of Decentralized Identity.
Introduction to ToIP V2.0
Our primary goal with this second-generation white paper was to make the vision and mission of ToIP accessible to a general audience—literally anyone who cares about the future of the Internet and how we can deal with the myriad security, privacy, data protection, and data sovereignty issues that have emerged as “the world’s greatest information utility” passes its first half-century of growth.
See: US consumers agree trust in protecting assets is essential before they’ll share their bank credentials
Our second goal was a “plain English” explanation of the overall structure of the four-layer, two-half sided ToIP stack using new graphics based on the wonderful interactive version developed by Peter Stoyko of Elanica.
Our third goal was to provide a more complete introduction to the ToIP Foundation as a collaborative organization devoted to the design, development, adoption, and promotion of the ToIP stack—a guide to helping prospective members understand how and why to engage.
It is available as a PDF document here and on the homepage of the ToIP Foundation website.
Design Principles for the ToIP Stack V1.0
To establish a truly interoperable decentralized digital trust layer for the Internet as a whole, meticulous attention must be paid to the design of the ToIP stack. Given the tremendous growth of the ToIP Foundation—from 27 original founding member organizations to over ten times as many today—it was critical to form a strong consensus among the new members about the principles governing this design.
See: PwC Report: Canadian Digital Trust Insights 2021: Cybersecurity comes of age
Another key reason to establish design principles for the development of a system is summarized in this quote from the start of the document:
The goal of any design principle is to provide guidance to the designers of a product, service, or system so they can take advantage of lessons learned from the success or failure of previous designs. Design principles represent accumulated wisdom that falls in between the generality of scientific laws and the specialization of best practices.
Continue to the full article --> here
Download 35 page PDF Intro to ToIP V2.0 --> here
Download 63 page PDF Design principles for the ToIP Stack V1.0 --> 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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RBC Research: Preparing for Hyperdrive – Themes that will define our new future
RBC Wealth Management Research | Dec 7, 2021
Get ready for accelerated disruption. As we think forward to the future, progress will be faster than it has ever been and it will not be linear. Just as we did in our Landmark 2018 Imagine Report, in this thought leadership study we have taken a global, cross-sector approach to determining the themes that will define our new future.
Challenging our global research teams in their respective areas of expertise and coming together to share ideas in recent months, we identified five key themes investors and executives alike across all industries must collectively understand to prepare for the years ahead.
Themes that will define our new future
1. The Quest for Immortality – Biopharma breakthroughs, life science real estate, 5G, autos, consumer wellness, space exploration and more come together to increase life expectancy rates globally.
2. The Individual Revolution – Data monetization, blockchain, gene editing and an evolving gig economy put the individual front and center like never before.
3. Artificial Intelligence Activated – This is no longer a drill. The path is set for the latter stages of AI to be integrated into our global economy. Don’t be left behind.
See: WEF Insight Report: Digital Assets, Distributed Ledger Technology, and the Future of Capital Markets
4. Hybrid Living – Our physical and digital worlds are rapidly combining, suddenly becoming indistinguishable and the implications are radical.
5. The Great Balancing Act – An accelerating rate of change on multiple fronts has the potential to create unprecedented instability. Resources are constrained and as we make tremendous forward progress on global sustainability, we must always keep in mind the other side of the coin. Innovation will thrive and new tensions will arrive.
In conclusion, the five themes highlighted in this thought leadership study provide a glimpse into the future and the opportunities and challenges that lie ahead. Life science, in particular, plays a significant role in the first theme, "The Quest for Immortality," as breakthroughs in biopharma and gene editing are increasing life expectancy rates globally. As we prepare for accelerated disruption, it is essential to collectively understand these themes and continue to learn more about the implications and potential opportunities they bring.
By staying ahead of the curve and embracing change, we can pave the way for a brighter future. This requires us to be open-minded and flexible in our approach to new technologies and ways of working, as well as actively seeking out knowledge and insights from a variety of sources. Only then can we truly harness the power of disruption to drive innovation and progress.
Download the 263 page PDF RBC Research 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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tbDEX: Square Releases White Paper Detailing Protocol for a Decentralized Bitcoin Exchange
Coindesk | Tanzeel Akhtar, Nelson Wang | | Nov 20, 2021
The white paper from Square’s new TBD division describes a protocol for exchanging digital and other assets in a way that’s more accessible to everyone.
Payments giant Square released a white paper on Friday detailing a new decentralized protocol for exchanging digital and other assets known as tbDEX.
- “The tbDEX protocol facilitates decentralized networks of exchange between assets by providing a framework for establishing social trust, utilizing decentralized identity (DID) and verifiable credentials (VCs) to establish the provenance of identity in the real world,” the company wrote in the paper’s abstract.
- In a post introducing the protocol, a TBD developer wrote that “the tbDEX protocol aims to create ubiquitous and accessible on-ramps and off-ramps that allow the average individual to benefit from crypto innovation.”
- TBD has published the white paper in GitHub so that the community can contribute.
See:
5 guiding principles for decentralized identities
Microsoft's decentralized identity head leaves to join Square
Square CEO Jack Dorsey, who’s also the CEO of Twitter, announced the company’s plan to create an open developer platform for a decentralized bitcoin exchange back in August. He noted that TBD, Square’s new division focused on developing non-custodial and decentralized financial services, would be building the exchange.
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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