2022 Fintech and Funding Conference (FFCON22: REGEN) | Dec 1 + Dec 6, 2022 Hybrid

Category Archives: Digital Identity, Privacy

Quebec’s Draft Regulation on Confidentiality Incidents

Clyde&Co | Sep 21, 2022

Quebec Draft regulation on confidentiailty incidents - Quebec's Draft Regulation on Confidentiality IncidentsOn June 29, 2022, the Quebec government presented the draft Regulation respecting confidentiality incidents (the “Quebec Regulation”). The Quebec Regulation specifies the content of the new notification and record-keeping requirements following the occurrence of a confidentiality incident. The regulation is set to enter into force on September 22, 2022, along with the first amendments to Quebec's Act respecting the protection of personal information in the private sector (the “Private Sector Act”), following the adoption of Bill 64,  An Act to modernize legislative provisions as regards the protection of personal information (“Bill 64”).

See:  5 Billion Profiles: Class Action Lawsuit Accuses Oracle of Privacy Breach and “Global Surveillance”

  • Bill 64 received assent on September 22, 2021, which marked the start of Quebec's transition into modernizing the rules that apply to the protection of personal information. We recently published an insight which provides an overview of the amendments that Bill 64 is bringing along for the next few years.
  • What is a confidentiality incident? As amended by Bill 64, Section 3.6 of the Private Sector Act provides the following definition of a “confidentiality incident”:
    • access not authorized by law to personal information;
    • use not authorized by law of personal information;
    • communication not authorized by law of personal information; or
    • loss of personal information or any other breach in the protection of such information.

See:  Modernizing Privacy Law in Canada – Striking the Right Balance

Requirements coming into force on September 22, 2022

  • In Canada, subject to some sector-specific exceptions, the Personal Information Protection and Electronic Documents Act (“PIPEDA”) applies to all private-sector organizations unless a province has enacted its own privacy laws that are substantially similar to PIPEDA (currently Alberta, British Columbia and Quebec), in which case the provincial legislation applies.
    • In provinces with substantially similar legislation, PIPEDA will still apply to personal information collected through interprovincial and international transactions.
  • No mandatory reporting and notification requirements existed under the Private Sector Act until the recent Bill 64 amendments.
  • As of September 22, 2022, Quebec’s mandatory notification regime for confidentiality incidents in the private sector will become the third one along with the federal and Alberta regimes in Canada outside the sector-specific regimes.
  • Organizations subject to the Private Sector Act will therefore have to comply with new requirements in the handling of such events.

Continue to the full article --> here


NCFA Jan 2018 resize - Quebec's Draft Regulation on Confidentiality IncidentsThe 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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Digital Identity Protection is Critical for Metaverse Innovation

MIT Tech Review | Sep 12, 2022

Metaverse digital identity protection is critical - Digital Identity Protection is Critical for Metaverse InnovationAs immersive experiences in the metaverse become more sophisticated, so does the threat landscape.

Current state:  If today’s metaverse were a shopping mall, you could visit any number of department stores, each with its own rich selection of products and experiences.

  • You could pop into virtual platforms like Roblox to buy a new outfit for your avatar or stop by Decentraland to gauge the latest valuation of digital real estate.
  • You couldn’t, however, take your Roblox avatar into Decentraland or to a VR movie on another brand’s platform. The hallways, elevators, kiosks, and reference maps—the infrastructure that makes it possible to carry your shopping bags from store to store—are still being built.

See:  Liquid Avatar Releases Update to It’s Feature Rich Self-Sovereign Identity Mobile App

  • Another unfinished element of the metaverse is its security: the guards, the CCTV cameras, the shoplifting alarms. Common cybersecurity protocols—the technologies equivalent to the “https” of today’s internet—are still a work in progress in the metaverse. So too are the governance standards that will protect your privacy, property—and perhaps most importantly—identity.

Threats and opportunities:  Even in today’s 2D version of the internet, digital identity is a complicated affair.

  • Phishing has become so sophisticated that an email from your bank, a call from your auto insurer, or even a text message from your mother may not be what it seems. The immersive nature of the metaverse, however, may set the stage for even more elaborate forms of identity theft or mimicry.
  • Identity protection will be a critical part of successful business operations in the metaverse—and it’s an especially important consideration for those getting in on the ground floor.
  • David Truog, vice president and principal analyst at Forrester, points out that the metaverse will be the next iteration of the internet—and like the early web, it will go through some growing pains.
  • In the metaverse, the role of cybersecurity in establishing similar interactions will be “an order of magnitude or two” more important, says Truog. As such, first movers in the space are in a unique position to anticipate security gaps and build in safeguards from the get-go.

See: 

7 Essential Ingredients of an (Open) Metaverse Framework

Metaverse Continuum: Digital experiences and interconnected future

Jeff Schilling, global chief information security officer, Teleperformance:

The threat of social engineering will potentially be even more effective in a 3D world, where deepfakes will be prevalent and an imposter is even more capable of tricking victims.  No matter the medium— telephone or metaverse—the best way to resist social engineering is by having a foolproof way to validate who is on the other end of the conversation.

Continue to the full article --> here


NCFA Jan 2018 resize - Digital Identity Protection is Critical for Metaverse InnovationThe 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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5 Billion Profiles: Class Action Lawsuit Accuses Oracle of Privacy Breach and “Global Surveillance”

CPA Magazine |

Oracle 5 billion personal profiles global surveillance - 5 Billion Profiles:  Class Action Lawsuit Accuses Oracle of Privacy Breach and “Global Surveillance”A class action lawsuit is accusing Oracle of conducting global surveillance, essentially attempting to create detailed shopping and spending profiles of the world’s entire population.

The suit accuses Oracle of creating profiles for five billion people worldwide, attaching things like purchase records and GPS locations to their name and contact information. While social media platforms usually dominate the conversation about global surveillance, the Oracle Data Marketplace and the company’s BlueKai service have quietly become one of the world’s largest sources of the sort of personal information that “data brokers” sell for targeted advertising purposes.

See:  Modernizing Privacy Law in Canada – Striking the Right Balance

Class action lawsuit

  • The class action lawsuit points to Oracle marketing materials claiming to provide dossiers on five billion individuals, generating some $42.4 billion in annual revenue for the company.
  • The suit alleges that these profiles tie names, home addresses, emails to a worrying amount of information: purchases online and in the real world, physical movements in the real world, income, interests and political views, and detailed accounts of online activity.
    • One illustrative detail provided is the profile of a man in Germany who had a €10 bet on an esports betting site logged in his profile.
  • The class action lawsuit has been filed in California and alleges violations of Federal Electronic Communications Privacy Act, the Constitution of the State of California, the California Invasion of Privacy Act, competition law, and common law.
  • The suit seeks to force Oracle to stop collecting this data and to make restitution to those who have had profiles created, due to being created without the subject’s knowledge or consent.

See:  Insurance Industry Sitting on Treasure Trove of Big Data, As Regulators Wrestle Data Privacy

  • People are not even aware of what Oracle (and similar brokers) are doing, they have no material relationship with these companies and cannot possibly be giving consent to have these marketing profiles developed.
  • The damage Oracle has done is beyond invasion of personal privacy. It cites “Project Alamo,” a 220-million person database created using Oracle services, as an example of micro-targeted voter suppression that may have impacted the outcome of the 2016 presidential election.
  • It also raises fears about the potential use of these marketing databases by law enforcement organizations in the wake of the Roe v. Wade repeal, as a means to surveil the visitors of services such as Planned Parenthood.

Continue to the full article --> here

View the 69 page PDF complaint --> here


NCFA Jan 2018 resize - 5 Billion Profiles:  Class Action Lawsuit Accuses Oracle of Privacy Breach and “Global Surveillance”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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Meta Begins Metaverse ID System Rollout

TechCrunch | Andrew Mendez | Aug 23, 2022

Meta account and horizon profile - Meta Begins Metaverse ID System Rollout

Meta, formerly Facebook, has officially rolled out what it’s calling Meta accounts and Meta Horizon Profiles. The global launch will be gradual, but both “accounts” are to be used in place of the personal social media account logins — Facebook and Instagram — once used to log in to the company’s virtual reality (VR) system.

Users, new and old, of Meta’s VR devices, will be required to sign up for a Meta account to log in and access the metaverse. The company is ditching the old way of logging on after complaints around privacy concerns arose regarding using personal social media accounts.

See:  7 Essential Ingredients of an (Open) Metaverse Framework

However, the company is still allowing users to use Facebook and Instagram accounts to create a Meta account, the company said. If a person chooses to create their Meta account via their social media accounts they’ll be connected in the Accounts Center, the central hub for connected experiences across Meta.

To even begin the process of creating a Meta account one must have the latest software on the Oculus app and VR headset.

Continue to the full article --> here


NCFA Jan 2018 resize - Meta Begins Metaverse ID System RolloutThe 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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Censorship: Vitalik Votes to Burn Staked Ethereum of Validators that Would Comply with Sanctions

CryptoSlate | Samuel Wan | Aug 16, 2022

Sanctions - Censorship: Vitalik Votes to Burn Staked Ethereum of Validators that Would Comply with SanctionsEthereum's Beacon Chain Validators Discuss Censorship Resistance

In a recent Twitter poll on Ethereum censorship, Vitalik Buterin revealed that he voted to punish validators complying with censorship requests by burning their staked tokens.The poll was held by software engineer Eric Wall, who asked the Ethereum community if they would burn the staked tokens of validators who comply with censorship requests or “tolerate the censorship” and do nothing.

The majority of voters  — 62%, including Buterin — opted for the former. Meanwhile, 9% voted to tolerate censorship, and 29% clicked show results. As of press time, several hours remain until the poll closes.

See: 

Canadian cryptocurrency exchanges ordered to cease dealings with convoy-linked accounts

Want Institutional Adoption? You Have to Sacrifice Tornado Cash, says Kevin O’Leary

Wall’s poll was a response to a tweet from Lefteris Karapetsas, the founder of Rotkiap, a privacy-focused portfolio tracker, who asked five significant Proof-of-Stake validators if they would comply with censorship requests or respond to the request by closing their staking service.

Continue to the full article --> here


NCFA Jan 2018 resize - Censorship: Vitalik Votes to Burn Staked Ethereum of Validators that Would Comply with SanctionsThe 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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Canada to Launch ‘Digital Ambition 2022’ Public Consultation For Digital ID Framework of Federal Public Services

Global Government Forum | Jack Aldane | Aug 16, 2022

biometric digital identity - Canada to Launch 'Digital Ambition 2022' Public Consultation For Digital ID Framework of Federal Public ServicesCanada's Digital Ambition 2022:  Public Consultation coming soon...

The government launched its Digital Ambition 2022 on 5 August this year:

  • “a clear, long-term strategic vision for the Government of Canada to advance digital service delivery, cyber security, talent recruitment, and privacy”. The new strategy replaces the government’s Digital Operations Strategic Plan: 2021-2024.
  • One key pillar of the ‘Ambition’ is digital identity, with emphasis on the need for government to create fast, straightforward ways to prove ID claims.
  • “The COVID-19 pandemic highlighted the need for government services to be accessible and flexible in the digital age. The next step in making services more convenient to access is a federal Digital Identity Program, integrated with pre-existing provincial platforms.”
  • The document reiterates a Treasury Board mandate set in late-2021 to work towards a common digital identity platform for public services.

See: 

The Evolving Digital Identity Landscape

Liquid Avatar Releases Update to It’s Feature Rich Self-Sovereign Identity Mobile App

Mona Fortier, president of the Treasury Board of Canada Secretariat:

the Ambition would lay a solid foundation for the ever-evolving digital transformation of government” and would serve as “an important tool to support the focus shared across ministers and departments to identify and implement better ways to ensure Canadians receive high quality, accessible, and efficient government services. Having ownership of a digital credential would protect Canadians from identity theft and fraud.

Headwinds

One Global Government Forum reader wrote:

Digital ID is an often controversial topic, splitting public opinion around the issue of privacy. Canada risk[s] becoming “full out ‘Chinadian’. Goodbye to all freedoms and welcome to dictatorship.

See:  Digital Identity Isn’t Only For People

Forier said:

Government had yet to instil trust in digital systems among the public. She suggested this could be improved through open collaboration between industry and government, as well as building diverse teams whose work reflects the concerns of Canadian citizens. We have a collective responsibility to break down organisational silos, address technical debt to promote quality over speed, and promote open data to foster transparency and trust.

The Canadian government has yet to provide details on when the its public consultation on digital ID might run.

Countries that have either implemented digital ID systems or are working on doing so include Estonia, Germany, the UK, and Australia, as well as the EU.

Continue to the full article --> here

View Canada's Digital Ambition 2022 government page --> here

 


NCFA Jan 2018 resize - Canada to Launch 'Digital Ambition 2022' Public Consultation For Digital ID Framework of Federal Public ServicesThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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NCFA Open Banking Thought Leadership Series: Privacy Policy

NCFA Canada | May 2022

Privacy Policy

This privacy policy describes our policies and procedures on the collection, use and disclosure of your information for the purposes of the National Crowdfunding & Fintech Association of Canada’s (NCFA Canada) Open Banking Interview Series. The Series will feature thought leadership and implementation insights from global Open Banking experts on NCFA Canada’s website.  By agreeing to participate in the Series, you agree to the following terms.

Definitions

For the purposes of this policy:

  • Organization (referred to as  "the Organization", "we", "us" or "our" in this policy) means the National Crowdfunding & Fintech Association of Canada, 150 King Street West, Suite #200, Toronto, ON M5H 1J9;
  • Country means Ontario, Canada;
  • Personal Data is any information that relates to an identified or readily identifiable individual;
  • Website means the website of the National Crowdfunding & Fintech Association of Canada, accessible at https://ncfacanada.org/;
  • You means the individual accessing or using the Website, or other legal entity on behalf of which such individual is accessing or using the Website, as applicable.

Personal data collected

While using the Website, we may ask You to provide us with certain Personal Data  that can be used to contact or identify You. The Data may include, but is not limited to:

  • Email address
  • First and last name
  • Affiliated company or organization
  • Job title
  • Head shot image
  • Social handle(s) (i.e., Linkedin)

Use of your personal data

The Organization may use Personal Data for the following purposes:

  • To provide and maintain the Website, including to monitor the use of the Website.
  • To contact You by email, telephone, SMS, or other form of electronic communication, such as a mobile application's push notification of updates or informative communications about the functionalities, products or contracted services, including security updates.
  • To provide You with news, special offers and general information about other goods, services and events which we offer that are similar to those that you have already purchased or asked about unless You have opted not to receive such information.
  • To manage and respond to Your requests.
  • For other purposes such as data analysis, identifying use trends and the effectiveness of our promotional campaigns, and to evaluate and improve our products, services, marketing, and Your experience.

We will not share your personal information without your consent.

Retention of your personal data

The Organization will retain Your Personal Data only for as long as is necessary for the purposes set out in this policy. We will retain and use Your Personal Data to the extent necessary to comply with our legal obligations , resolve disputes, and enforce our legal agreements and policies.

Transfer of your personal data

Your information, including Personal Data, is processed at the Organization's offices and in any other places where the parties involved in the processing are located. Therefore Your Data may be transferred to — and maintained on — computers located outside of Your state, province, country or other jurisdiction where the data protection laws may differ from those in Your jurisdiction.

The Organization will take all steps reasonably necessary to ensure that Your Data is kept secure and treated in accordance with the policy. There will be no transfer of Your  Data  to a person or a country unless there are adequate controls in place for our compliance with this policy, data protection and privacy legislation applicable to us in Ontario, and the compliance with this policy of the person receiving the Data .

Security of your personal data

The security of Your Personal Data is important to us but remember that even with the best systems and controls, no method of transmission over the internet, or method of electronic storage is 100% secure. While we strive to use reasonable means to protect Your Data, we cannot guarantee its absolute security.

Contact us

If you have any questions about this policy, you can contact us by email: info@ncfacanada.org.


NCFA Jan 2018 resize - NCFA Open Banking Thought Leadership Series:  Privacy PolicyThe 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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