Liquid Avatar App empowers individuals to verify, manage and control their digital identity and personal data through biometrically verified digital representations of themselves.
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
KABN Systems NA Holdings Corp Changes Its Name to Liquid Avatar Technologies Inc. with New Symbol LQID
KABN (LQID) | Cara Buckspan | March 1, 2021
Liquid Avatar name and symbol change better reflects Company's corporate branding
TORONTO, ON / ACCESSWIRE / March 1, 2021 / KABN Systems NA Holdings Corp. (CSE:KABN)("KABN" or the "Company") is pleased to announce that it has changed its name from KABN Systems NA Holdings Corp. to Liquid Avatar Technologies Inc. (www.liquidavatartechnologies.com) and its ticker symbol from KABN to LQID. Subject to approval by the Canadian Securities Exchange (the "CSE"), the Company expects the name and symbol change to take effect for trading purposes on March 3, 2021 when its common shares will begin trading on the CSE under the new name, CUSIP number and new ticker symbol.
On February 18, 2021, the Company launched the first phase of its flagship product, the Liquid Avatar (www.liquidavatar.com) app in the Apple Store and Google Play.
Like search, online communications and browser usage, digital identity is addressable to up to 100% of the online market and is a very early-stage market opportunity, with the potential to reach up to 400 Million people in North America and over 5 Billion people online globally.
See: KABN North America Launches Liquid Avatar App in the Apple Store and Google Play
According to Statista.com, over 79% of video game users in the US are over the age of 18 with a surprising 41% over the age of 34, showing that video gaming and character creation is widespread through all age categories. Using Liquid Avatar, users are able to select from 1000's of combinations of facial features to create their perfect digital, "cartoon-like" representations of themselves - all at no cost. Future releases of Liquid Avatar will allow users to upload their own digital icon images and create even more realistic versions of themselves as the Company explores new technologies that allow 3D animation and facial embedding on video characters.
"The Company is excited to have Liquid Avatar become the Company name as more people are associating the Company with our flagship product," said David Lucatch, CEO KABN North America. "With over 5 Billion people online and the global landscape evolving to put control of user information back in the hands of those that own it, coupled with the need for digital identity management growing daily, we believe that the Company and its products and programs can provide users, vendors, governments, eCommerce program and others with the ability to easily and efficiently interact while preserving safety, security and data integrity."
Liquid Avatar provides users with an easy and engaging way to share what they want, when they want, and with whom they want, through a biometrically verified access and verifiable identity credentials, based on the Trust over IP Foundation's framework (www.trustoverip.com) giving users the control they need and deserve and the opportunity to benefit, economically, from the personal data they wish to share.
With more websites, services and platforms requiring users to provide personal details and identification to gain access, together with the changing regulatory landscape in California, Canada, Europe, Australia, and other countries, more reliance is being placed on the consumer to manage their online information, identity, and personal data.
See: KABN North America and Imagine AR Bring Augmented Reality to Liquid Avatar’s Verified Self Sovereign Identity Users
Without the right tools, platforms, security and safety, the potential for increased identity fraud and other nefarious activities may continue to accelerate in the online marketplace. Liquid Avatar provides solutions for individuals to manage, control and create value from their digital identity and personal data allowing them to share what they want, when they want and with whom they want through cloud-based, biometrically enabled verifiable credentials, digital wallets, and other cryptographic services.
Liquid Avatar users will also be able to create digital wallets to manage and store a wide range of verifiable identity and access credentials, and to take their conventional identity online, allowing users to prove themselves as easily and effectively as they do in the "physical world".
As the opportunity to manage digital identity is new to most people and to some, the process can be daunting, Liquid Avatar has taken a phased approach to its engagement program. Initially users can sign up for Liquid Avatar using a traditional email and password, but at the point of sign up, they also engage in a "liveness" test, which allows Liquid Avatar to associate the account with a biometric signature. This process, while not invasive and not requiring the user to store any sensitive data on their devices, as Liquid Avatar is primarily a cloud-based platform, does subscribe to a "one user / "one account" philosophy, where every user is known and verified, reducing, if not potentially eliminating fake and / or fraudulent users.
In the future, with Liquid Avatar Marketplace (www.liquidavatarmarketplace.com), users with have the opportunity to trade and sell collectible Liquid Avatars from iconic and up and coming pop culture, anime, and comic book creators. The Company is also investigating other commercial applications that will potentially integrate Liquid Avatar with information, financial, hospitality, eCommerce, and government services.
Continue to 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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The Outer Space Men are Landing at Liquid Avatar
KABN | Cara Buckspan | Feb 24, 2021
Company launches integrated Liquid Avatar, Augmented Reality and NFT media program of iconic 1960's toy and collector brand.
TORONTO, ON and NEW YORK, NY / ACCESSWIRE / February 24, 2021 / KABN Systems NA Holdings Corp. / Liquid Avatar Technologies Inc. (CSE:KABN)(OTC Pink:TRWRF)(FRA:4T51) (the "Company") (www.kabnsystemsna.com), a North American fintech solutions company specializing in empowering individuals to manage, control and generate value from their biometrically-verified Self Sovereign Identity ("SSI") through its Liquid Avatar (www.liquidavatar.com) platform, is pleased to announce that the Company has partnered with the iconic toy brand, The Outer Space Men (www.theouterspacemen.com). The Outer Space Men is a toy and collector brand that spans over half a century of celebration as both a vintage and modern collectible assembly of action figures. The OSM were first created when man's greatest achievement was to land on the moon during the infamous Space Race of the 1960's. The Outer Space Men characters will be used for a series of integrated media programs for Liquid Avatar.
The integrated campaign, expected to launch in early spring 2021 will feature a series of limited edition 2D and 3D Liquid Avatar digital icons available in the Liquid Avatar Marketplace (www.liquidavatarmarketplace.com), a full immersive 3D global Augmented Reality scavenger hunt, powered by the Company's partnership with Imagine AR (CSE:IP) and based on approvals, a 3D animated and AR powered, exclusive Non-Fungible ("NFT") Token program for collectors.
See: KABN North America Launches Liquid Avatar App in the Apple Store and Google Play
The Outer Space Men features beloved and infamous, vintage bendable toy action figure characters that were first created by the world renown toy inventor Mel Birnkrant. With tens of thousands of clamoring fans demanding the return of these archetypal heroic icons, the wildly successful line of toys was brought back to the market in 2008 with the support of childhood fan and Wall Street executive Gary Schaeffer who reintroduced the line of toys in a new affordable format. Since 2010 these new action figures have been played with by millions of children globally. The 21 OSM characters span our solar system, The Milky Way Galaxy and beyond and delight both collectors and children with their incredible back stories and legendary beginnings as extoled by their creator Mr. Birnkrant. These action figures and the rest of the collection of up to 21 different bendable toys, will be transformed into computer graphic (CG) 2D and 3D models ready for a host of digital production programs.
To power these new experiences, the Company has engaged Los Angeles based DreamView, Inc. (www.dreamview.com). DreamView's founders and staff have worked with major brands, studios, and ad agencies around the globe on some of the world's most successful and beloved products, films, and television series, including Apple, Disney, Bleacher Report, Harry Potter, Terminator, Star Wars, Jurassic Park, Transformers and Hot Wheels, as well as commercials and other industrial CG, AR, VR and animation projects.
See: KABN North America and Liquid Avatar Unveils New Challenger Banking Program for Verified Self Sovereign Identity Users
At the direction of Liquid Avatar's Creative Director, Mariano Nicieza and the team, DreamView will be taking The Outer Space Men's 21 core roster and converting them to CG designs ready and compatible for Augmented Reality, Rigging and Animation.
The Company is also working with Apex Comics Group (www.apexcomicsgroup.com) to bring world leading comic book writers, editors and artists together to create multi-media and Augmented Reality Comics powered by a user's Liquid Avatar. A sneak preview will be made virtually on March 26th and 27th at Comic Con International's WonderCon (www.comic-con.org/wca).
"Liquid Avatar is working to make the process of creating, sharing and powering digital identity fun and engaging and the Outer Space Men are a perfect partner for our future-proofing solutions," said David Lucatch, CEO. "With Augmented Reality, CG and 3D Avatars on the roadmap for Liquid Avatar, it makes great sense to start with this iconic brand and adding NFT's which are raging digital collectibles with over $100 Million in sales in the past month, makes starting now even more important to the growth of the Company."
The Liquid Avatar beta app officially launched globally in the Google Play and Apple App Store on February 18, 2021. With the foundation 1st phase already available, the Liquid Avatar app will launch updates in phases, with new features expected monthly. The Company believes that as it plans to provide future features, regular releases will provide users with the opportunity to familiarize themselves with existing features before moving on to more comprehensive services and the opportunity to manage their digital identity and verifiable credentials.
Continue to read the full 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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FCA and City of London’s Digital Sandbox Pilot – Presentations and Use Cases
Digital Sandbox Pilot UK | Feb 20, 2021
The pilot ran from November 2020 through to February 2021. An evaluation process is currently being undertaken by an independent consultant. The pilot will be assessed against the 5 success criteria:
- Innovation – role played in encouraging innovation in financial services to the Covid-related challenges detailed in the use cases
- Speed – role played in enabling quicker testing and development of proof of concepts
- Collaboration – role played in fostering collaboration, facilitating diversity of thinking and creating an ecosystem of key organisations
- Pilot features – the effectiveness of the key features of the pilot (see below) in stimulating and accelerating innovation
- Sustainable future – role played in informing and assisting the design and future operating model of a permanent digital sandbox
See: UK Digital sandbox – coronavirus (Covid-19) pilot
Select Teams and Descriptions
Fraud & scams
Sedicii: An AML solution that allows financial institutions to securely share knowledge about clients or transactions without disclosing any underlying data or information.
EalaX Ltd: A solution that creates digital synthetic twins of real financial data which can then be used to detect fraudulent patterns and complex problems that are being experienced during Covid-19.
MPC4AML: A solution that uses a Privacy Enhancing Technology (PET) known as Secure Multi-Party Computation (MPC) to run risk scores on a transaction network data from multiple banks.
Norbloc: A solution that uses blockchain to allow for a secure and GDPR-compliant sharing of verified KYC files across multiple institutions in real-time to create a single profile per customer.
IT2 Fraud Signals - Trust Stamp, Cifas, Lloyds & OneBanks: A solution that uses biometric data to create an identity token that can be used to match, de-duplicate and verify across institutions while protecting the users personal identity information.
See: UK: Open Finance: The FCA Consults On How To Transform The Financial Services Market
Vulnerability
PrinSIX Technologies: PrinSIX is focusing on detecting vulnerability within credit applications, testing and deploying dynamic onboarding journeys that identify applicant vulnerability flags and trigger highly personalised digital assessments to improve customer outcomes.
Qpal: A digital assistant focused on financial wellbeing, powered by Open Banking, that automates financial decision for consumers.
Applied Blockchain: A solution to allow a range of lenders to assess the credit risk of a borrower without requiring direct access to private and sensitive financial data by using privacy-preserving technologies.
DirectID: A solution that uses transactional data to predict the probability of default based on an individual’s historical and predicted cash flow.
See: FCA Report (Feb 2020): Sector Views – Key Areas of Harm Identified
SME Lending
Fluence: A solution that uses natural language processing AI to interpret and analyse financial applications and claims handling processes in order to automatically interpret new applications and claims.
Company Watch Ltd: A solution to enable finance funding providers to predict, analyse and risk assess the ability of a small business to repay credit within certain time periods.
Fractal Labs: A solution that uses Open Banking to create a cashflow forecast in order to help assess the eligibility of SME’s for small working capital loans.
Untangled Finance: A solution using tokenised assets on a blockchain to enable simple, cost-effective and transparent ways to securitise SME loans and invoices.
Continue to the full list and to watch presentations --> 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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Want to launch an ecosystem? Consider Tokenization
2tokens Blog | Jan 14, 2020
Tokens have been around for 1000s of years, but only recently have we seen the rise of digital tokens. Now, cryptographic tokens offer us an opportunity to redesign value streams and hence existing ecosystems. A well-designed token ecosystem unlocks value by bringing parties together in new ways and stimulates the target behaviour by having cryptographic tokens as built-in incentives. Tokens matter and offer a chance to redesign existing and new ecosystems.
On January 14, 2020, we had the second round table session organised by the 2Tokens initiative. The 2Tokens project aims to clarify the path to realising value from tokenisation. During the first round table session, we discussed why we need tokenisation, what is required to achieve value from tokenisation, and how we should move ahead with it.
Shared Understanding
Tokenisation, tokenomics and token engineering are new concepts and, for many, difficult to understand. Especially since often, these terms are used differently in different contexts. A shared understanding is not only relevant for building tokenised ecosystems, but it will also enable regulators and policymakers to address regulatory concerns in the right way. As such, it will foster a healthy public debate around tokenisation.
See: Tokenizing Assets and Unlocking Value on the Blockchain
A shared understanding consists of precise terminology and taxonomy, international standards, useful metaphors to share with wider audiences and clear legal and regulatory frameworks. Since the field of tokenisation is very much alive, on-going coordination, education and engagement among all stakeholders is essential. A Token Coalition can manage this, or organisation such as the 2Tokens project, to ensure all stakeholders' requirements are met. We define the terminology as follows:
- Tokens: the digital representation of value (e.g. asset) on a blockchain.
- Tokenisation: the process of changing value (e.g. asset) into its digital representative
- Tokenomics: the study of the emerging field of the design of crypto tokens and related digital assets using economic incentives, game theory, cryptography and computer science.
- Token engineering: the practice of using tokens as the foundation for designing value flows and ultimately economic systems
- Purpose-driven tokenisation: leveraging the exchange of value to drive behaviours of an ecosystem towards a particular goal
Innovative Funding
For any ecosystem, funding is important. Tokenisation, however, changes how this funding can be achieved, going beyond traditional financing from venture capitalists or financial institutions. When an ecosystem plans to use tokens for funding, it can benefit from easy access to capital, anywhere in the world. Compared to traditional financing such as an IPO, the costs of financing are lower, and it is easier to scale as more people have access to the investment opportunity. After all, tokens do not know borders.
See: BIGG Digital Assets Inc. to Reinvest Free Cash Flows From Operations into Bitcoin
Tokens offer multiple, technical, advantages over traditional funding. First of all, they are programmable. This means that governance and rules can be embedded within the token. For example, the longer you hold a token, the more dividend you will receive. This allows you to drive the behaviour of your investors while raising funds. In addition, tokens are transparent, secure and traceable, giving regulators more control to ensure correct behaviour.
With tokenised funding becoming the norm in the coming years, we can expect a shift from ownership to temporary ownership, as exchanging assets will become easy. As a result, previously illiquid assets will become liquid, thereby drastically changing economies. Anything can be tokenised and made liquid, including real estate (fractional ownership), CO2 rights, mobility, futures, art or even entire clubs and sport contracts to increase fan engagement.
Key to tokenised funding is the right infrastructure. This includes secondary markets to easily exchange security tokens, clear regulations so companies know what they have to comply with, and an intuitive user interface to facilitate ease of investment. When the right tools are available, tokens will revolutionise funding opportunities.
Change Management
Developing an ecosystem is one thing; getting people to use it is a different challenge. Although tokens can drive behaviour, people will need to change their behaviour to participate in tokenised ecosystems. It can be expected that there is a resistance to change because people don’t understand the new ways of interacting.
See: For Digital Assets, Private Markets Offer the Greatest Opportunities
To tackle this resistance, it is crucial for ecosystem owners to create awareness and understanding the change implied when using tokenisation; what is it, why is it important, how will it change the ecosystem and what are the benefits? In addition, it is important to take into account to define and communicate the scale of change and eliminate certain (wrong) assumptions. Starting with a minimum viable ecosystem to build engagement and showing why a tokenised approach is important can help in market adoption.
When talking about tokenisation of an ecosystem, or multiple ecosystems for that matter, we should also take into account the following subjects:
- Responsibility: define responsibility, who is responsible, what creates what and who might be responsible for possible negative consequences of the tokenisation of the ecosystem?
- Weaker parties: Weaker parties might need a helping hand to participate in the tokenisation of ecosystems.
- Ethics: is the tokenised ecosystem designed with ethics in mind?
- Skin in the game: who are the parties at risk when tokenising an ecosystem? Who can quickly adapt and who might need more help? It is important to try to keep everyone on board. Diversity within and between ecosystems could add a lot of value.
With the above components in place, it becomes easier to design and grow a tokenised ecosystem.
Tokenisation and the Law
When designing tokenised ecosystems, legal compliance is essential to stand apart from unethical and fraudulent counterparts. Therefore, legal design thinking is relevant at the core of every project.
See: Privacy laws might prove to be a blessing in disguise for crypto
It is important to have a clear view of the legal aspects of new developments to obtain regulatory cooperation and closely collaborate (for example, using sandboxes) with regulators and policymakers when designing the tokenised ecosystem. While the community should welcome regulation, regulators and policymakers need to develop regulations that do not stifle innovation. This requires more cooperation and open dialogue between those innovators and the regulators.
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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Public and Private Money Can Coexist in the Digital Age
IMF Blog | Tobias Adrian and Tommaso Mancini-Griffoli | Feb 18, 2021
We value innovation and diversity—including in money. In the same day, we might pay by swiping a card, waving a phone, or clicking a mouse. Or we might hand over notes and coins, though in many countries increasingly less often.
Today’s world is characterized by a dual monetary system, involving privately-issued money—by banks of all types, telecom companies, or specialized payment providers—built upon a foundation of publicly-issued money—by central banks. While not perfect, this system offers significant advantages, including: innovation and product diversity, mostly provided by the private sector, and stability and efficiency, ensured by the public sector.
See: Is Digital Money (Legally) Really Money?
These objectives—innovation and diversity on the one hand, and stability and efficiency on the other—are related. More of one usually means less of the other. A tradeoff exists, and countries—central banks especially—have to navigate it. How much of the private sector to rely upon, versus how much to innovate themselves? Much depends on preferences, available technology, and the efficiency of regulation.
So it is natural, when a new technology emerges, to ask how today’s dual monetary system will evolve. If digitalized cash—called central bank digital currency—does emerge, will it displace privately-issued money, or allow it to flourish? The first is always possible, by way of more stringent regulation. We argue that the second remains possible, by extending the logic of today’s dual monetary system. Importantly, central banks should not face a choice between either offering central bank digital currency, or encouraging the private sector to provide its own digital variant. The two can coincide and complement each other, for example, to the extent central banks make certain design choices and refresh their regulatory frameworks.
Public-private coexistence
It may be puzzling to consider that privately- and publicly-issued monies have coexisted throughout history. Why hasn’t the more innovative, convenient, user-friendly, and adaptable private money taken over entirely?
See: Right to anonymous payments
The answer lies in a fundamental symbiotic relationship: the option to redeem private money into perfectly safe and liquid public money, be it notes and coins, or central bank reserves held by selected banks.
The private monies that can be redeemed at a fixed face value into central bank currency become a stable store of value. Ten dollars in a bank account can be exchanged into a ten-dollar bill accepted as legal tender to settle debts. The example may seem obvious, but it hides complex underpinnings: sound regulation and supervision, government backstops such as deposit insurance and lender last resort, as well as partial or full backing in central bank reserves.
Moreover, privately-issued money becomes an efficient means of payment to the extent it can be redeemed into central bank currency. Anne’s 10 dollars in Bank A can be transferred to Bob’s Bank B because they are redeemed into central bank currency in between—an asset both banks trust, hold, and can exchange. As a result, this privately-issued money becomes interoperable. And so it spurs competition—since Anne and Bob can hold money in different banks and still pay each other—and thus innovation and diversity of actual forms of money.
See: COVID-19: Making the case for robust digital financial infrastructure
In short, the option of redemption into central bank currency is essential for stability, interoperability, innovation, and diversity of privately-issued money, be it a bank account or other. A system with just private money would be far too risky. And one with just central bank currency could miss out on important innovations. Each form of money builds on the other to deliver today’s dual money system—a balance that has served us well.
Central bank currency in the digital age will face pressures
And tomorrow, as we step squarely into the digital age, what will become of this system? Will the digital currencies issued by central banks be so enticing that they overshadow privately-issued money? Or will they still allow for private sector innovation? Much depends on each central bank’s ability and willingness to consistently and significantly innovate. Keeping pace with technological change, rapidly evolving user needs, and private sector innovation is no easy feat.
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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KABN North America Launches Liquid Avatar App in the Apple Store and Google Play
KABN | Cara Buckspan | Feb 18, 2021
Liquid Avatar App empowers individuals to verify, manage and control their digital identity and personal data through biometrically verified digital representations of themselves.
TORONTO, ON / ACCESSWIRE / February 18, 2021 / KABN Systems NA Holdings Corp. (CSE:KABN)(OTC PINK:TRWRF)(FRA:4T51) (the "Company", "KABN North America" or "KABN NA") (www.kabnsystemsna.com), a North American Fintech solutions company specializing in empowering individuals to manage, control and generate value from their biometrically-verified Self Sovereign Identity ("SSI") through its Liquid Avatar (www.liquidavatar.com) platform, is pleased to announce that it has launched the first phase of its Liquid Avatar App in the Apple Store and Google Play.
Like search, online communications and browser usage, digital identity is addressable to up to 100% of the online market and is a very early-stage market opportunity, with the potential to reach up to 400 Million people in North America and over 5 Billion people online globally.
With more websites, services and platforms requiring users to provide personal details and identification to gain access, together with the changing regulatory landscape in California, Canada, Europe, Australia, and other countries, more reliance is being placed on the consumer to manage their online information, identity, and personal data.
See: Liquid Avatar Partners with The Campus Agency to Reach 2,000 US University and Colleges
Without the right tools, platforms, security and safety, the potential for increased identity fraud and other nefarious activities may continue to accelerate in the online marketplace. Liquid Avatar provides solutions for individuals to manage, control and create value from their digital identity and personal data allowing them to share what they want, when they want and with whom they want through cloud-based, biometrically enabled verifiable credentials, digital wallets, and other cryptographic services.
Liquid Avatar users are able to select from 1000's of combinations of facial features to create their perfect digital representations of themselves - all at no cost, and in the future, users will also be able to upload certain personalized images and logos to represent their avatars.
Liquid Avatar provides users with an easy and engaging way to share what they want, when they want, and with whom they want, through a biometrically verified access and verifiable identity credentials, based on the Trust over IP Foundation's framework (www.trustoverip.com) giving users the control they need and deserve and the opportunity to benefit, economically, from the personal data they wish to share.
The Liquid Avatar platform allows users to create high quality digital icon representations of the various facets of their online personalities and identity, which can be used to easily share what they want, when they want, and with whom they want. Liquid Avatar users will also be able to create digital wallets to manage and store a wide range of verifiable identity and access credentials, and to take their conventional identity online, allowing users to prove themselves as easily and effectively as they do in the "physical world".
A Phased Approach to Supporting Digital Identity Management
As the opportunity to manage digital identity is new to most people and to some, the process can be daunting, Liquid Avatar has taken a phased approach to its engagement program. Initially users can sign up for Liquid Avatar using a traditional email and password, but at the point of sign up, they also engage in a "liveness" test, which allows Liquid Avatar to associate the account with a biometric signature. This process, while not invasive and not requiring the user to store any sensitive data on their devices, as Liquid Avatar is primarily a cloud-based platform, does subscribe to a "one user / "one account" philosophy, where every user is known and verified, reducing, if not potentially eliminating fake and / or fraudulent users.
See: FCA: Digital Identity Sandbox Observations
Users that install Liquid Avatar in Phase 1 (launch date through, estimated end of March 2021) will start to learn the basics of setting up and sharing a Liquid Avatar as a precursor to digital identity management. Initial Features include:
- Create & Edit Avatars
- Create a Biometrically Secured Account
- Add and Share Data
- Mobile Phone Number
- Email Addresses
- Community:
- Share your Liquid Avatar through:
- Text
- Social Channels
- Connect with other Liquid Avatar User(s)
- Share your Liquid Avatar through:
- Automatically enroll in KABN KASH program
- Sign up for the KABN Card waitlist (Canada only, other regions under review)
Phase 2, expected to launch late March 2021(subject to any revisions), will include technology and app updates and the ability to create multiple Liquid Avatars and manage different facets of your personality (personas) as well as storing items in your personal locker. Phase 2 will also see the introduction of multiple language options, the ability to connect further social media and data sources to your Liquid Avatar personas and additional free Liquid Avatar creative components.
See: Survey Until Feb 26: Ontario Seeks Input from Individuals and Businesses to Help Shape Digital ID Program
Phase 3, slated for the end of April (subject to any revisions) is expected to bring continuous technology and app improvements and the early introduction of Liquid Avatar's digital wallet and verifiable identity credentials giving users greater management and control over their digital identity. Phase 3 will also see the potential introduction of badges, providing users with the ability to upload and share specific attributes and affiliations of their favorite teams, university they went to and their "likes".
Phase 4, currently scheduled for the end of May (subject to any revisions) is primed as a major release for Liquid Avatar as the Company plans to introduce its Augmented Reality platform in partnership with Imagine AR (CSE:IP). Phase 4 is expected to also introduce the introduction of Digital Certificates of Authenticity, securing ownership of collector Liquid Avatar icons and components and allow for future selling and trading of these items. It is also expected that Liquid Avatar will introduce an early stage of its vendor offering engine which will allow users to set preferences and match those with offers from vendors who wish to reach known and verified users.
There is a lot more in store for Liquid Avatar through the Spring and Summer 2021, as the Company expects to continue to showcase and test potential release items, like innovative AR scavenger hunts and video creation events, Digital Identity dashboards and much more. With Liquid Avatar Marketplace (www.liquidavatarmarketplace.com), users with have the ability to trade and sell collectible Liquid Avatars from iconic and up and coming pop culture, anime, and comic book creators. The Company is also investigating other commercial applications that will potentially integrate Liquid Avatar with information, financial, hospitality, eCommerce, and government services.
Beginning at the initial launch, Liquid Avatar will have direct connections to over 370 North American online brands with cash back deals with KABN KASH and Canadian users can be part of the early sign up for the KABN Visa Card (with further territory expansion in discussion).
"The launch of Liquid Avatar is a major milestone for the Company as we look to empower individuals to manage, control and benefit from the digital identity and personal data," said David Lucatch, CEO KABN North America. "With over 5 Billion people online and the global landscape evolving to put control of user information back in the hands of those that own it, coupled with the need for digital identity management growing daily, we believe that Liquid Avatar will provide users, vendors, governments, eCommerce program and others with the ability to easily and efficiently interact while preserving safety, security and data integrity."
As a verified platform, an individual user of Liquid Avatar can only have one account (with possibly multiple digital personas) which potentially reduces the ability for bad actors to create bots and fake accounts. Liquid Avatar users know that when they use and interact with other Liquid Avatar users, they are dealing with real, known people.
See: A new denim collection gives jeans a digital identity
While Liquid Avatar is free to consumers and KABN and Liquid Avatar never sells or rents data, the Company believes that verified, known users can create increased value for themselves and select marketers and vendors as they look to reach real people and not fake users or bots. Through the Liquid Avatar platform and approved, permission-based communications, Liquid Avatar will offer up value-based opportunities users can select. At the same time, Liquid Avatar partners who want to reach real, known users will be willing to provide increased value as they won't be spending money to reach fake users and bots.
KABN NA will earn potential revenues through card transaction fees, comarketing, bounties, commissions, and other fees paid by partners and vendors. The Company believes that other consumer and revenue programs will emerge as Liquid Avatar gains traction in the market.
Interested individuals can sign up and receive information and notices on upcoming product releases and services by visiting www.liquidavatar.com
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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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Overview of how Canada is modernizing its core payments infrastructure
Asset Servicing Times | Feb 3, 2021
With an evolving payments landscape, Canada is marching ahead to modernise its core payments infrastructure with a vision to build a modern payments system that is fast, flexible, secure and promotes innovation
Developments in technology, evolving customer behaviour and new market dynamics are all catalysts for change in the payments space. Recent research has suggested that banks are committed to investing in areas such as digitising customer journeys, introducing machine learning, and improving technological and operational resilience, and this hasn’t been swayed by the pandemic.
See: Bank of Canada Speech: Money and Payments in the Digital Age
Real-time payments are becoming increasingly popular as they allow participants to make and receive instant payments, providing convenience, speed, and faster availability of funds. Payments Canada recently selected Mastercard’s Vocalink as the clearing and settlement solution provider for the country’s new real-time payments system, the Real-Time Rail (RTR).
“Ultimately, Canadians are seeking choice and convenience. Technology, payments innovation, and shifts in the ways that Canadians make payments are all contributing to our developing payments landscape,” says Ryan Grundy, lead, industry relations, Payments Canada.
Experts say Canada continues to hold a strong position among institutional investors on the world stage, in keeping with the strength of its financial markets and ‘big six’ banks — the National Bank of Canada, Royal Bank, the Bank of Montreal, Canadian Imperial Bank of Commerce, Scotiabank, and Toronto Dominion Bank.
See: Bank of Canada partners with the Bank for International Settlements to launch innovation centre
Canada’s financial sector features robust and mature markets, stability and transparency, proven infrastructure, efficient settlement mechanisms and a well evolved regulatory framework – along with a focus on controlled innovation. In line with the consolidated nature of Canada’s financial sector, the payments landscape also focuses on the major bank-driven players.
“In Canada, we see a synthesis of domestic innovation combined with global connectivity, with local players deploying Canadian solutions where they make sense according to Canada’s financial markets and infrastructure, while also driving connectivity or access to global platforms where either scale and accessibility make them the right direction — or, particularly in the retail space, where client demands and appetite for global solutions fits,” explains Lloyd Sebastian, vice president, global financial institutions, at CIBC Mellon.
For example, Interac is a payment network jointly owned by the consortium of banks, which links the banks along with other financial institutions, retailers and others to enable more seamless electronic financial transactions. With Canadian consumers concentrated on a small group of big six players who offer integrated Interac services, that is likely to continue to shape consumer use.
Marching ahead
In line with efficiency and convenience priorities in Canada, Payments Canada is marching ahead with its journey to modernise the country’s core payments infrastructure. “Its vision is to build a modern payments system that is fast, flexible, secure and promotes innovation,” says Sebastian.
See: How will Canada reinvent its payments framework for a post-pandemic digital reality?
As part of these developments, Payments Canada has selected Mastercard’s Vocalink as the clearing and settlement solution provider for the country’s new real-time payments system, the RTR. Expected to launch in 2022, RTR will support payment information travelling with payments and act as a platform for innovation, enabling the introduction of new payment products and experiences.
While RTR is operated by Payments Canada, it is underpinned by the ISO 20022 data standard, and regulated by the Bank of Canada. Canada’s new real-time payments system will consist of two components including a clearing and settlement component provided by Mastercard; and an exchange component.
As well as the upcoming launch of the RTR system in 2021, Lynx, a new high-value payments system to replace the Large Value Transfer System is set to launch this year.
“Introducing Lynx is a fundamental part of Payments Canada’s modernisation program that will transform the country’s payments ecosystem. Lynx will replace Canada’s current Large Value Payments System. The Lynx system will be a world-class, high-value payments system built in compliance with Canadian and international risk standards and will support the global ISO 20022 messaging standard,” says Payments Canada’s Grundy.
Lack of data and transparency within payment messages is a major challenge in Canada’s payment space and this creates a number of inefficiencies for businesses of all sizes. This includes labour-intensive payments reconciliation, limited predictability of cash inflows and outflows, difficulty tracking cross-border payments, and continued reliance on manual back-end processes.
See: Right to anonymous payments
As Lynx and RTR will be underpinned by the ISO 20022 messaging standard, they should be able to support businesses in overcoming these challenges.
“The standard enables the transfer of rich data with payments, a change that has the potential to improve automation and efficiency, reducing many pain points for Canadian businesses,” explains Grundy.
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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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