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
Right to anonymous payments
Do we have a right to anonymous payments? If so, is this right linked to certain payment instruments, such as cash? Does this right apply equally to payers in the analogue and the digital world? For most people, the daily payments initiated as market participants are unavoidable. It has therefore become one of our basic needs, like sleeping and eating. The right to anonymity, which can be regarded as an essential pillar of a modern democratic society, is generally derived from the fundamental rights to freedom of expression and informational self-determination.
This right is by no means limited to the analogue world. For example, we have the right to browse the internet anonymously, using appropriate software and pseudonyms. Does this right also apply to the payment act? In the analogue world, this right is indirectly established by the existence of cash. Cash leaves no traces of data and, due to its special status as legal tender, it is a means of payment
See: Bill to overhaul Canada’s privacy laws coming soon
As long as there is still cash as legal tender, we therefore do not only have the option, but also the right to anonymous payments. The interesting question of whether this right can also be enforced anywhere and at any time (e.g. when paying the broadcasting licence fee) has been debated by the German courts for quite some time, at ever higher levels.
Right to anonymous cashless payments
As a means of payment, cash, which is still dominant today, is gradually losing in importance (not, however, as a means to store value). The shift in demand in favour of online retailing has contributed to this, as cashless payments are usually the only option in that area. In the future digital world with, for example, the Internet of Things and automotive payment applications (pay per car), the only thing that will remain are cashless digital payments. In Germany, the right to anonymous online payments is only protected by law for the use of telemedia (Sec. 13 No. 6 of the German Telemedia Act – Telemediengesetz).
The German party SPD was the only party who was consistent and future-oriented in its election campaign program in 2017 in this regard as it demanded a general right to anonymous cashless payment. And rightly so, as why should I have to forfeit my elementary rights from the analogue world when entering the digital world, which is inevitable nowadays? The demand of the SPD party was an important step forward, which unfortunately was again deeply buried in the slightly childish games in the sandpit of the grand coalition.
See: Cadillac Fairview broke privacy laws by using facial recognition technology at malls, investigators conclude
Is this demand even technically feasible? “Cashless + anonymous” is not an inherent contradiction. In contrast to a cash payment, there is always data on the payment process, but not necessarily on the identities of the payer and the payee. This means that digital payments can also be made while maintaining anonymity. You don’t have to surf the Darknet and pay with Bitcoins to achieve this. Digital payments with an anonymous prepaid card (e.g. a gift card) demonstrate how easily this can be done. Since the mid-1990s, analogue cash has been capable of being used digitally 1:1 as an anonymous bearer instrument without any further complications. If technology is not the problem, then what is?
5AMLD: The right through the back door
Let us recall the chutzpah of EU Directive 2018/843 (better known as AMLD5), which has to be implemented by 10 January 2020. In its first draft (2016), the Commission wanted to ban anonymous cashless online payments using e-money. Anonymous e-money payments at the physical POS have not yet been banned, but the thresholds have been significantly lowered (from EUR 250 to EUR 150). In this segment, the door should not be slammed shut completely, as prepaid cards currently still make an important contribution to social and financial inclusion according to recital 14. In addition, according to the Commission’s Impact Assessment Analysis on the draft directive, a ban on anonymous payments in this segment would not be very effective as cash can still be used here.
See: Survey Until Feb 26: Ontario Seeks Input from Individuals and Businesses to Help Shape Digital ID Program
AMLD is obviously intended to prevent money laundering and terrorism financing. There was no evidence of money laundering with anonymous prepaid cards. On the contrary, the current scandals show that money laundering in the billions is mainly carried out via non-anonymous accounts by fully identified bank customers (Danske Bank in Estonia, ING Bank in the Netherlands, Deutsche Bank in Russia, etc.). The only remaining argument is therefore terrorism financing. There was vague evidence, which has not yet been verified, that in the Paris attack (November 2015) the Islamic terrorists used an (anonymous?) prepaid card.
The consequence is to abolish the right to anonymous cashless payment on the internet for half a billion EU citizens. As a passionate cyclist, I am delighted that the terrorists did not use an anonymous bicycle when they fled, for otherwise the Commission would have introduced the same questionable logic of compulsory bicycle registration and the use of number plates throughout Europe.
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 Partners with UK and Barbados Based Tokenise International to Develop Verifiable Identity Credentials for Regulated Stock Exchange
KABN | Cara Buckspan | Feb 11, 2021
Agreement will help fuel Liquid Avatar's expansion to the UK and Caribbean.
TORONTO, CA and LONDON, UK and ST. MICHAELS, BARBADOS / ACCESSWIRE / February 11, 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 entered into an initial agreement with the Gibraltar holding company of London, UK and St. Michael's, Barbados based Tokenise International Limited ("Tokenise") (www.tokenise.io), a multi-jurisdictional regulated financial services organization.
Together, the Companies are working on initiatives to integrate Liquid Avatar with Tokenise and issue verifiable identity credentials to account holders and to use these credentials to gain access to Tokenise financial and brokerage services and other related platforms, starting in the UK and Barbados.
See: For Digital Assets, Private Markets Offer the Greatest Opportunities
Tokenise operates Kession Capital Limited, a London-based broker dealer that is authorized and regulated by the Financial Conduct Authority in the United Kingdom. Tokenise offers issuers and investors the ability to tokenize crowdfunding programs through the purchase, sale, and exchange of blockchain based securities. Kession also acts as a UK conduit to the Tokenise Stock Exchange, a fully regulated stock exchange in Barbados providing global primary issuance and secondary market trading, promoting financial inclusion and asset diversification, and focusing exclusively on tokenized securities and Tokenise Brokerage to support the onboarding efforts of global investors. Tokenise is also exploring expansion opportunities into Canada.
With Digital Identity applications addressable to up to 100% of the online market, the financial services market is a primary opportunity for Liquid Avatar's Verifiable Credentials Ecosystem announced earlier this month. By accessing a biometrically enabled verifiable identity credential that a user can store in their Liquid Avatar wallet, Tokenise will be able to verify and validate customers allowing them to securely and safely access their accounts based on their known and verified digital identity. The program is expected to commence by early Q3 2021.
Tokenise provides customers and blockchain based issuers with a safe, secure, and regulated supported environment to purchase and exchange securities and is considered to be the first global digital Self Regulated Organization ("SRO") to focus exclusively on tokenized products.
See: Digital Assets: A Framework For Regulation To Maintain The United States’ Status As An Innovation Leader
The Tokenise Stock Exchange will support a wide range of company and program listings including but not limited to tokenized real estate, art, collectibles, businesses and enterprises, celebrity and influencer ventures, cannabis and potentially psychedelics initiatives, digital currency ETFs, and other digitized assets.
"With the rise in awareness and acceptance of digital currencies, like Bitcoin, Ethereum and other Altcoins, it naturally follows that investors will want to investigate and potentially invest in blockchain based securities and Tokenise is eager to support this global, growing opportunity," said Mike Kessler, CEO, Tokenise International Limited. "The Liquid Avatar platform and its verifiable identity credential provides Tokenise with a potentially effective and efficient way to continuously verify our customers and afford them increased security and safety to manage their digitized assets."
Liquid Avatar will be releasing its live, open beta app globally in Google Play and Apple App Store on February 18, 2021, subject to all final approvals. Liquid Avatar will launch in phases, as the Company prepares and tests additional service and program offerings to make it easier for users to become familiar with the Liquid Avatar platform, Self Sovereign Identity and Verifiable Credentials.
"We are excited to have the opportunity to work with Tokenise to support their growing global needs for customer verification and validation and account authentication," said David Lucatch, CEO, KABN North America. "We believe that by linking Liquid Avatar and verifiable identity credentials, users can use their biometrics and digital credentials to sign in and access their accounts from multiple devices anywhere in the world, potentially providing increased protection of their digital information and valuables."
Liquid Avatar, available at no cost to consumers, makes it easy for individuals to start and maintain the process of managing their SSI/digital identity while giving users the ability to share it with their friends, family, colleagues, and others easily, safely, and cryptographically secure through biometrically enabled Self Sovereign Identity tools and services.
About Tokenise International Limited - www.tokenise.
Working with and in fully regulated environments to meet the needs of the emerging blockchain based securities markets, Tokenise International Limited is a financial services group, operating in multiple jurisdictions. The firm's programs consist of:
Kession Capital Limited, an authorized and regulated by the Financial Conduct Authority in the United Kingdom (FRN 582160). Kession currently operates as a regulated hosting platform and oversees several clients across the investment management industry, from crowdfunding platforms to a national European stock exchange.
UK based Tokenise crowdfunding platform which, under its regulatory permissions, has the ability to manage the purchase, sale and exchange of tokenized securities.
Barbados based Tokenise Stock Exchange International Limited (formerly Daxnet BB (Barbados) Limited) which is a self-regulated organization which is licensed to operate as a fully regulated stock exchange in Barbados providing primary issuance and secondary market trading promoting financial inclusion and asset diversification and focusing exclusively on tokenized securities and is considered to be the first global digital SRO to focus exclusively on tokenized products.
The Company also owns and operates Barbados based Tokenise Brokerage (formerly Kession Capital International Limited) providing global access to investors who wish to use the Tokenise Stock Exchange and provides direct market access to a global customer base.
About KABN Systems NA Holdings Corp - www.kabnnaholdco.com
KABN Systems NA Holdings Corp. 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.
Liquid Avatar 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. www.liquidavatar.com
KABN North America has a suite of revenue generating programs that support the Liquid Avatar program, including KABN KASH a cash back and reward program that has over 300 leading online merchants and coming soon, an integrated offering engine. In Canada, KABN also has the KABN Visa Card, a "challenger banking" platform that allows users to manage and control a range of financial services for traditional and digital currencies. The Company is currently exploring expansion of the KABN Visa program to other geographic regions, including the USA.
KABN Systems NA Holdings Corp. is publicly listed on the Canadian Securities Exchange (CSE) under the symbol "KABN" (CSE:KABN).
The Company also trades in the US under the symbol "TRWRF" and in Frankfurt under the symbol "4T51".
If you have not already joined our mailing list and would like to receive updates on KABN Systems NA Holdings Corp., please click here to join!
For more information, please visit www.kabnnaholdco.com or www.kabnsystemsna.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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KABN North America Announces Leading Executives to its Industry Advisory Committee
KABN | Cara Buckspan | Feb 9, 2021
IAC members will support the Company's business, awareness and growth strategies.
TORONTO, ON / ACCESSWIRE / February 9, 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 welcome a group of leading business executives in the formation of its inaugural Industry Advisory Committee ("IAC") which will support and advise KABN NA's management team with its growth and business initiatives, industry awareness and strategic introductions.
See: KABN to Release Liquid Avatar in App Stores Feb 18 to Further Progress Self Sovereign Identity
With Digital Identity impacting almost every sector and potentially 100% of the addressable online market, the timing was right for KABN NA to bring together an outstanding group of executives with start-up, industry, and public market experience to support the Company.
"We are excited and honored to be able to work with such a talented, experienced and diverse group of executives who believe in Liquid Avatar and the value of digital identity," said Ben Kessler, Senior Advisor and Chair of KABN North America's Industry Advisory Committee. "As a group, our mandate will be to support the Company and its efforts while providing industry advice to help accelerate its growth."
The 2021 KABN North America Inaugural Industry Advisory Committee members include:
Sheldon Inwentash, B.Comm., CA., CPA., LL.D
Sheldon is the Founder, Chairman and CEO of ThreeD Capital Inc. (CSE:IDK) and has more than 30 years of investing experience. He co-founded Visible Genetics, the first commercial pharmacogenomics company, in 1994 and exited in 2001 to Bayer. Through two decades of leading Pinetree Capital, Mr. Inwentash has created significant shareholder value through early investments in Queenston Mining (acquired by Osisko Mining Corp. for $550-million), Aurelian Resources (acquired by Kinross for $1.2-billion) and Gold Eagle Mines (acquired by Goldcorp for $1.5-billion) to name a few.
Sheldon obtained his B.Comm from the University of Toronto and is a Chartered Professional Accountant. In 2007, he was an Ontario finalist for the Ernst & Young entrepreneur of the year award. In 2012, Sheldon received an honorary degree, doctor of laws (LL.D) from the University of Toronto for his valuable leadership as an entrepreneur, his philanthropy, and inspirational commitment to making a difference in the lives of children, youth and their families.
Rob Anson
Rob Anson has served as the Chief Executive Officer and Chairman of the board at Loop Insights Inc. (CSE:MTRX) since January 2018. Rob has also served as CEO and Founder of Fobisuite Technologies Inc., a private British Columbia technology company, since October 2017. Previously he was Founder and CEO of One Team Media, a Private Vancouver-based media company with digital and TV production assets.
Neil Stiles
Before moving to the US in 2008, Neil was a Board Director of Reed Business Information (RBI), one of the world's largest magazine publishers headquartered in the UK. He was also CEO of eMedia, an email marketing business with divisional responsibilities including a range of publications and events in multiple markets.
Neil also led sales across the whole of RBI, headed up the internal pricing consultancy and was also instrumental in developing RBI's strategy transitioning from magazines into data which required him to relocate to Los Angeles, California.
See: NCFA and KABN Systems North America enter multi-year exclusive partnership to promote Digital Identity in Canada
Neil took over the Entertainment division of RBI USA which included Variety Magazine, where he was CEO and Publisher. At Variety, Neil was instrumental in the development of a wider business strategy to take the company into conferences, higher price data and syndication.
Neil also served on the board of LA's Best after school program for schools within Los Angeles and was a Director of BritWeek. He also was on the board of BAFTA and subsequently served a term as Chairman.
After Neil orchestrated the sale of Variety, and other assets for Reed Elsevier, he retired to the Fort Lauderdale area.
Neil currently consults with a wide range of companies with focus on pricing and developing viable online business models. Neil is also on the advisory boards of EIS, 2020 Capital and three other start-ups.
For fun he owns a Brazilian Jiu Jitsu School and competes on a regular basis.
Alen Paul Silverrstieen
Alen Paul is a global serial entrepreneur with over 20 years of experience and is currently CEO of Imagine AR (CSE:IP). He recently founded Recruitment USA/India software firms leveraging Artificial Intelligence and Machine Learning to optimize job candidate sourcing. Alen Paul has also represented one of the leading Indian Post-Production Studios and contracted over 60 Hollywood movies in the past 5 years alone. Alen Paul is known as one of the pioneers of North American prepaid communications and led his company, GTS, public on the NASDAQ within 3 years while executing license deals with MLB, Marvel, NHL, Led Zeppelin, and many others.
See: KABN North America and Imagine AR Bring Augmented Reality to Liquid Avatar’s Verified Self Sovereign Identity Users
Nicole Rodrigues
Nicole Rodrigues is the CEO and Founder of NRPR Group and the Young Dreamers Foundation. She's an award-winning, well-rounded public relations and marketing pro. Her extensive knowledge in bridging the gap between the technology and various consumer industries makes her extremely valuable to her team and clients. She has more than 20 years of experience in PR, social media and digital marketing. Clients that have benefited from her counsel and skill include Heal, Sony Pictures Entertainment, Dialpad, Dolby, Yahoo!, MobiTV, Sony Playstation, Plantronics, Hulu, YouTube, M-GO, LA Comic Con, Demand Media (now Leaf Group), and other dominant companies. She holds a Bachelor of Science degree in Public Relations from San Jose State University and is an Executive MBA Candidate at UCLA Anderson School of Management - class of 2022.
Ruth McCartney
Ruth is a music industry veteran, communications expert and brand strategist with a strong marketing and entrepreneurial background. She's consulted and produced for Fortune 100, corporate, high-tech, non-profit & entertainment companies. She is also a public speaker and early Bitcoin adopter.
As CEO of McCartney Multimedia, Inc, Ruth has developed working relationships with industry leaders including Capitol Records, MGM/ Mirage, Lexus, Warner Bros. & T-Mobile. Her work has ranged from new media strategies and technology consulting, to development of database management solutions and marketing programs. Currently, her Hootsuite-Certified team is handling social media content creation, strategy, deployment and reporting for 36 worldwide city destinations in 7 languages. In addition, Ruth has also served as advisor to projects for non-profit and higher education organizations including the Farrah Fawcett Foundation, The Clinton Foundation & the Linda McCartney Centre for Cancer Research. The company also handles social strategy and marketing/digital PR for clients including creating custom marketing and sales funnels using their technology McCartneyMessenger.com to target & reach people via IM and Facebook and respond in real time.
Ruth's brainchild is the online Customer / Fan acquisition and retention, tool iFanz® iFanz.com® whose technology has provided online data mgmt., eCRM, & email broadcasting & compliance to LeAnn Rimes, Estate of Tupac Shakur, Roseanne Barr, John Cleese, Chevrolet, Paula Abdul, Edgar Winter, Texas Instruments and more. With 6.4 million members, it's amongst the largest privately held email mgmt. systems in the USA.
See: KABN North America and Liquid Avatar Unveils New Challenger Banking Program for Verified Self Sovereign Identity Users
Formerly, Ruth was a singer/songwriter & recording artist on BMG/Jupiter Records and has headlined tours in Russia, Lithuania, Armenia, Uzbekistan, Turkmenistan & Siberia. Specialties: Branding, social media, eMarketing, digital distribution, web development, eCRM, block chain solutions.
Craig Asano
Craig is the CEO and founder of NCFA, National Crowdfunding & Fintech Association of Canada. With 15+ years of experience, he is a proven marketing strategist, software technologist and start-up entrepreneur in technology, finance, and real estate sectors. Craig is a leader, community builder, advocate and development professional of alternative finance and private capital markets, fintech, blockchain, AI, interactive web, data intelligence, special projects, and new ventures.
Steven Glaser
Steven is a financial service executive with a diverse background in corporate finance, communications, and governance for both private and public companies. He is currently Chief Operating Officer, Chief Financial Officer and Director at Pool Safe Inc. (TSXV:POOL), a company that designs, develops and distributes globally a product known as the "PoolSafe". In addition to his role at Pool Safe, Steven also sits on the Board of Canadian listed public companies. From 2008 through 2017, Steven worked in the corporate finance and investment banking arena focused on assisting late stage private and early stage public companies with strategic planning and capital raising. Prior to that, he spent seven years as Vice President Corporate Affairs of Azure Dynamics Corporation. He was responsible for the company's corporate governance, domestic and international stock exchange listings, as well as the build-out of the company's Investor Relations division. Steven holds a Bachelor of Administrative Studies degree as well as an M.B.A. in finance.
Lauren Linton
Lauren is an Executive Director of CIX Canadian Innovation Exchange, the longest-running Canadian venture conference, which curates and showcases Canada's most innovative early and growth stage tech startups to North American investors and corporates. Previously, Lauren was an executive with the CVCA- Canadian Venture Capital and Private Equity Association, setting the strategic direction and developing the majority of the revenue programs for the association and private capital industry. She has served on boards with interests in healthcare, technology and business services and has chaired many fundraising events. Lauren holds a Bachelor of Commerce degree in Marketing and Finance from the DeGroote School of Business, McMaster University. Lauren is also a SheEO Activator.
See: Survey Until Feb 26: Ontario Seeks Input from Individuals and Businesses to Help Shape Digital ID Program
Mark Pearlman
Mark is a results-driven senior operating executive with over 20+ years' experience and success in driving corporate growth within the technology and mass retail industries. His experience and expertise is in business transformation, M&A, corporate strategy, corporate planning and sales operations. Government and public appointments at Federal and Provincial levels.
Dominic Vogel
Dominic has an established track record as a cyber security leader. He has a wide-range of experience overseeing numerous projects including security strategy development, policy development, endpoint security, and threat management in a multitude of industries including financial services, logistics, transportation, government, telecommunications, and critical infrastructure. Dominic actively participates in the local Vancouver security community and is a regular cyber security expert for Global BC (TV), CKNW (radio), News1130 (radio), and the Vancouver Sun (newspaper).
Ben Kessler - Chair
As Chair of KABN NA's Industry Advisory Committee, Ben has over 20 years of account management, business development, marketing, and partnership experience in the financial services sector. Mr. Kessler is currently a Senior Advisor to KABN North America.
See: NCFA and KABN Systems North America enter multi-year exclusive partnership to promote Digital Identity in Canada
Prior to that, he was the Managing Director, Payments Solution Group - Banc of California and also served as Vice President, Global Account Management at Earthport North America. Ben also held senior roles at Mastercard Worldwide from 2006 to 2011. Ben has a Bachelor of Arts degree from Brandeis University and a Master of Business Administration from the New York University Stern School of Management.
Having the opportunity to consult and engage with such a diverse group of industry leaders through the Industry Advisory Committee is amazing as it will help us garner different views of our business, markets and our respective opportunities," said David Lucatch, CEO KABN North America.
Launching in the Apple Store and Google Play on February 18, 2021, Liquid Avatar, available at no cost to consumers, makes it easy for individuals to start and maintain the process of managing their SSI/digital identity while giving users the ability to share it with their friends, family, colleagues, and others easily, safely, and cryptographically secure through biometrically enabled Self Sovereign Identity tools and services.
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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WEF Launches Digital Currency Governance Consortium and 2021 Vision
WEF | Feb 2021
Background
In the near term, the public sector will be making important decisions that will shape the trajectory of digital currency development. These include decisions related to regulation, improving efficiency, resilience, and competitiveness of payment systems, and whether to issue a central bank digital currency (CBDC). Policymakers are also assessing how to support responsible digital currency innovation while safeguarding or promoting financial stability, financial inclusion and consumer protection.
See:
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Do Central Bank Digital Currencies need a blockchain operating system?
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China’s Central Bank and SWIFT arrange JV called Finance Gateway Information Services
In response to these dynamics, the Forum’s Shaping the Future of Blockchain and Digital Assets Platform is assembling stakeholders across the public and private sectors to explore and co-design global frameworks that address the risks, gaps, and opportunities in digital currency governance.
The Opportunity
The Digital Currency Governance Consortium centres on the discussion and development of relevant and timely global frameworks for digital currency governance that benefit from multi-sector input and co-design. In its work, it will work on the following content:
Stablecoin and CBDC Capabilities
This working group will assess the capabilities of stablecoins and CBDCS and the value propositions for various use cases. It may also assess their limitations and the risks they introduce into the monetary system. Topics include: • Assessment of the value of stablecoins and CBDCs, with a particular emphasis on financial inclusion and providing benefits to the financially under-served as compared to existing options. • Exploration of the viability of stablecoins for aid delivery and disbursement.
Regulatory Choices
Fragmented regulation may create uneven competitive environments and opportunities for illicit activity in certain jurisdictions, while stifling innovation by well-intentioned actors who are reticent to experiment without regulatory certainty. This working group will examine how we can establish the right regulatory, supervisory, privacy, and consumer protection guidelines and policies over new forms of digital currencies. The working group will also assess the role of the public sector in the era of digital currency growth, especially the public-private division of responsibility.
Read:
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The Good, the Bad and the Ugly of Central Bank Digital Coins (CBDCs)
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Better to get it right than to be first with CBDC, says US Fed chair
Technology Choices
This working group will investigate the right technological frameworks for operationalizing digital currencies. Topics will include architecture, interoperability, and privacy, and centre on the following: • Framework helping to guide central banks in their analysis around CBDC technology platforms and providers. • Mapping of the spectrum of privacy and confidentiality options and approaches that are technically feasible and available for CBDC. • Exploration of various forms of interoperability and definitions for what it means for a digital currency issuer to say that their system is "interoperable."
Continue to the full article --> here
Download the 36 page PDF WEF Digital Currencies Governance Consortium --> 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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Did Satoshi Nakamoto’s Plan a Blockchain BTC Treasure Hunt?
Bitcoin.com | Jamie Redman | Feb 6, 2021
Over the last twelve years, the cryptocurrency community has always been intrigued by Bitcoin’s inventor Satoshi Nakamoto. For over a decade, armchair sleuths and journalists have tried to uncover the creator’s identity and information on the whereabouts of all the bitcoins the enigma mined when the network was still in its infancy. Now a few individuals believe Satoshi’s coins may be the greatest prize competition ever and the private keys are somehow hidden within the blockchain.
Maybe Satoshi Nakamoto Left a Message?
Just recently, some members of the forum bitcointalk.org have been discussing a new theory surrounding the infamous Satoshi Nakamoto. For years now, the hunt for Nakamoto has been quite the quest and so far, no one has been able to uncover the creator’s identity or find the inventor’s stash of BTC.
It is well known that Nakamoto mined bitcoin and it is estimated that the cryptocurrency creator may have acquired roughly 750,000 BTC to 1.1 million BTC. News.Bitcoin.com has written about Satoshi’s stash on a myriad of occasions including on April 17, 2019. In that particular article, it was reported that RSK Labs chief scientist, Sergio Demián Lerner, had published a new report concerning Satoshi’s alleged holdings.
See: Privacy laws might prove to be a blessing in disguise for crypto
The RSK chief scientist has uncovered a lot in regard to the thousands of blocks Satoshi may have mined. Lerner also published a blog post in 2013 called “A new mystery about Satoshi hidden in the Bitcoin block-chain,” which discusses an interesting nonce field found in the blocks he called the ‘Patoshi’ pattern.
Basically a “nonce” or “number only used once” in Bitcoin terminology is a 32-bit (4-byte) field or a non-repeating value that is included in a mined block. When miners mine bitcoin blocks the goal is to find a hash below or equal to the network’s current target. Lerner’s mystery talks about the distribution of the nonce’s least significant byte (LSB).
What Lerner had found was that the LSB in Satoshi’s alleged blocks were not distributed uniformly and the researcher’s blockchain analysis came to a few conclusions.
At first, he thought that it could be his blockchain parser not working correctly. Or it could mean that Satoshi was mining bitcoins with something “very different from a PC,” Lerner said. “But if this is true, then it has far-reaching consequences: Satoshi foresaw the advantage of FPGA/ASIC much sooner than everybody else,” the researcher added.
See: Future of Crypto Market Infrastructure: The Role of Custodians and Exchanges
Then Lerner thought of a third reason, and that it could mean Satoshi discovered a flaw in SHA-2. But the RSK chief scientist said that “this is highly improbable.” But lastly, Lerner thought that maybe Satoshi left a message fingerprinted in the nonces.
“A Message for us to see in a distant future,” Lerner wrote at the time. “The number of nonces that fall into each byte value or histogram,” he added.
Armchair Detectives Hope to Solve the ‘Greatest Prize Competition’
This mystery has led the group of theorists over at bitcointalk.org to believe that maybe Satoshi’s early mined coins are actually an extremely valuable treasure hunt. A forum account dubbed ‘Old gold digger’ believes that the existence of so many distinguishers says that whoever mined these bitcoin blocks “wanted his/her blocks to be identified.”
There have been others who have alluded to this theory in the past on the forum. “Satoshi left a message fingerprinted in the nonces,” Old gold digger wrote. “A Message for us to see in a distant future.”
The individual added:
Maybe Satoshi created the greatest prize competition and the private keys are somehow within the blockchain.
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 Partners with Indicio to Build Liquid Avatar’s Verifiable Credential Ecosystem (LAVCE)
KABN | Cara Buckspan | Feb 3, 2021
Platform will empower consumers, governments, and business to manage, issue and verify digital identity and personal data.
TORONTO, ON / ACCESSWIRE / February 3, 2021 / KABN Systems NA Holdings Corp. (CSE:KABN) (OTC: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 entered into an agreement with Delaware based PBC (Public Benefit Corporation), Indicio (https://indicio.tech/), a professional services firm specializing in decentralized identity architecture, engineering, and consultancy. Together, the team will build and launch the Liquid Avatar Verifiable Credentials Ecosystem ("LAVCE"), to support and enable online identity assurance which includes a digital credentials wallet and platform for issuers, verifiers, and individuals to support the issuance, verification, and management of verifiable credentials for digital identity.
The Company believes that digital identity is addressable to 100% of the online market. This solution is one of the first global platforms to support governments, healthcare, workplaces, hospitality and other businesses and organizations as they begin to issue digital credentials and to empower users, at no cost, to manage and take full control over storage and use of these credentials, their digital identity, and personal data.
Using the LAVCE, individuals, or "holders" will be provided with a digital wallet that will be able to, within Liquid Avatar, support a wide range of verifiable identity and other digital credentials based on the Trust over IP (www.trustoverip.org) open-source governance and technology stacks, to which KABN is a steering committee member, and industry standard data models.
See: Survey Until Feb 26: Ontario Seeks Input from Individuals and Businesses to Help Shape Digital ID Program
Together, with the Liquid Avatar app and its high-quality digital image icons that can represent various facets of a user's personality, the system will usher in new tools and services to create verifiable digital identities allowing for new and innovative ways for users to create a holistic profile of themselves that they manage and control, through self-defined personas. KABN North America will pay for the build and operate the LAVCE and the new verifiable identity credentials program creating an open-source solution to drive industry adoption and support standards that everyone can build to. This program is expected to ultimately replace the Company's current KABN ID solution.
"With over 5 Billion people online and about 400 million people in the US and Canada the world continues to get smaller through increased digital presence and opportunities. Providing individuals with a no-cost service that allows them to prove who they are and verify, manage, control and generate value from their digital identity has the potential to create significant consumer and commercial opportunities," said David Lucatch, CEO KABN North America.
"The creation of the LAVCE and our new digital identity credentials align with our goal to make Liquid Avatar engaging and simple to use as governments and industry continue to move swiftly towards adopting increased levels of security, regulation and compliance, enabling consumers to control their identity and data usage. This program also supports our industry efforts with the Trust over IP Foundation, Lumedic Exchange and other company efforts."
Liquid Avatar will be releasing its live, open beta app globally in Google Play and Apple App Store on February 18, 2021, subject to all final approvals. The LAVCE is expected mid-spring as part of Liquid Avatar's ongoing release schedule.
Using the LAVCE, issuers, like governments, workplaces, financial services, and others will be able to issue verifiable credentials that are linked to a holder's verifiable identity credential, creating a higher level of security and safety. Verifiers who want to make sure that an individual has the credential and is who they say they are will be able to scan a Liquid Avatar icon and to request a verifiable presentation to determine acceptance.
"We are excited to be working with KABN and the Liquid Avatar team to build and deploy the Liquid Avatar Verifiable Credential Ecosystem to enable issuers, verifiers and consumers to use verifiable credentials to deploy digital identity solutions that preserve privacy while enhancing security and safety," said Heather Dahl, CEO Indicio
See: KABN to Release Liquid Avatar in App Stores Feb 18 to Further Progress Self Sovereign Identity
"Liquid Avatar and the LAVCE will potentially provide a paradigm shift in the way that individuals manage, control and use their digital identity and will be interoperable with a host of emerging ecosystems and solutions through its open-source protocols," said RJ Reiser, Chief Business Development Officer KABN North America.
"We believe that our digital wallet will be a foundational piece that will empower consumers to fight against fraud in all its forms. Working with Indicio and its world-class, industry leading team, we will be creating one of the world's first consumer facing digital wallet programs that will enable issuers, verifiers and consumers to easily and simply adopt and deploy verifiable identity and additional credentials solutions."
Liquid Avatar, available at no cost to consumers, makes it easy for individuals to start and maintain the process of managing their SSI/digital identity while giving users the ability to share it with their friends, family, colleagues, and others easily, safely, and cryptographically secure through biometrically enabled Self Sovereign Identity tools and services.
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".
Continue to view the full press 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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Survey Until Feb 26: Ontario Seeks Input from Individuals and Businesses to Help Shape Digital ID Program
Ontario Government | Treasury Board Secretariat | Feb 2, 2021
Initiative will offer more convenient access to government and private sector services
TORONTO — The Ontario government is launching an online consultation to seek input on the province's plan to introduce a digital ID by the end of 2021. Through the Digital ID program, people and businesses in Ontario will be able to securely and conveniently prove their identity online. This will save people time and money and offer more convenient access to government and private sector services.
"We want to assure people that a digital ID will not only offer simpler and easier access to services, but it will be safe and secure, encrypted and harnessing the latest technology to protect your information and credentials," said Peter Bethlenfalvy, President of the Treasury Board, Minister of Finance and Minister Responsible for Digital and Data Transformation.
See: KABN North America Partners with Indicio to Build Liquid Avatar’s Verifiable Credential Ecosystem (LAVCE)
"As we develop this initiative, we want to hear directly from the people to ensure their priorities are reflected in this innovative, digital approach. No one has a monopoly on good ideas and we are prepared to listen."
Launching today, the consultation will be open from February 2 to February 26, 2021 via online surveys for the public and small-to-medium-size enterprises (SMEs) as well as virtual focus groups for SMEs.
Participants will have the opportunity to help shape the government's approach to introducing a digital ID while voicing their top priorities and concerns.
Strong encryption and privacy protecting technology will be at the core of a digital ID to ensure personal information such as name, birthdate or address remains secure. This initiative will make Ontario one of the leading digital jurisdictions in the world.
Potential uses of a digital ID include:
- A parent could more easily access their children's immunization records and share them online with their school.
- A small business owner could reduce red tape by registering for licences and permits or opening new accounts online.
- A farmer could register a farm vehicle online without travelling to government offices to prove their personal identity.
- A senior could check in to a doctor's appointment online and securely share health information with caregivers and health care providers.
- A digital ID would also support COVID-19 safety protocols by limiting unnecessary in-person contact to help stop the spread of the virus.
See: COVID-19: Making the case for robust digital financial infrastructure
Ontarians will be able to combat ID fraud and protect their data more effectively with a digital ID. By using this innovative technology, users will be in full control of what identity information is shared and with whom. For those persons who choose not to have a digital ID, they will still be able to prove their identity and access services with their physical documents.
Digital ID, a signature project of Ontario Onwards: Ontario's COVID-19 Action Plan for a People-Focused Government, is one of more than 30 projects that will improve the way people and businesses interact with government by offering access to more services online.
Did you know?
- A recent study estimated the use of Digital Identity could increase efficiency and result in a potential $4.5 billion of added value to the small-and-medium-size enterprises sector nationally.
- Based on estimates of the impact of Digital Identity on GDP in mature economies by McKinsey Global Institute, Ontario stands to gain $8 - $25 billion in economic value alone.
- A recent analysis of 335 government services found that approximately 70% of government services required some level of identity verification, and most of the physical cards and documents used today to prove identity (e.g., driver’s licences or photo health cards) were not designed for online use, leading to the risk of identity fraud.
Contribute Your Inputs and Help Shape the Future of Digital ID in Ontario
The surveys are open until 11:59 p.m. February 26, 2021.
Take the Survey for all Ontarions --> Now
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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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