Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
The Evolving Digital Identity Landscape
Liquid Avatar Technologies | David Lucatch | Feb 9, 2022
How the current macro environment is changing the way we work, play, and engage online.
The last time you left home, you probably had at least 3 items with you that would prove who you are, most likely your mobile device, wallet, and keyring.
In the “real” world, we’re used to carrying personal identification, driving or taking public transit, and our keyring not only provides security to our homes, autos, offices, and other valuables, but also tells a bit about our personality, based on the type of keyrings, and fobs we have. Why should it be any different in the online world, and how can I prove who I really am online just as easily?
While the pandemic has held a grip over our daily lives, not until recently have we started to believe that things may get back to normal. This global crisis has also been a catalyst for digital identity.
Not only did our traditional lives change dramatically during this period, but so did our digital existence. Online gaming and digital content consumption went up 75% literally overnight. Amazon is our new best friend delivering almost daily. While it may have seemed novel initially, it became the new reality thanks to our kids being educated online and trying to keep up with friends and family via Zoom calls instead of getting together. It has also has meant finding reliable ways to stay in touch with our clients and business associates and doing more online, exposing ourselves potentially to additional security concerns and identity fraud. Now, more than ever, we need something that requires us to prove who we are.
See: Liquid Avatar Releases Major Update to their Digital Identity Mobile App
Digitally, we can be viewed as the sum of all our online “information” most or which has been controlled by corporations intent on mining your data for their overall benefit. However, continuing jurisdictional changes in privacy rules and data protection in many parts of the world have started to shift the power of data from corporations to the people.
As we spend more of our lives online, it will be essential to prove who we are when it comes to:
- Reduction of potential identity fraud
- Validation of online purchases
- eSports, online gaming, and social media
- Information and data services
- Education
- Government and Healthcare services
New technologies and innovations are changing the way digital identity and personal information is managed. We’re seeing healthcare passports, single sign on applications and digital wallets, but the key is for users to manage, control and benefit from this information and personal responsibility.
See: What Does The Financialization of Games Mean? GameFi
With over 300 million people in North America and over 5 billion people online globally, the market, tasks and opportunities are both enormous and daunting. Organizations like the Linux Foundation, Trust over IP Foundation, Cardea, The Lumedic Exchange, Liquid Avatar Technologies and other leading firms and organizations are working to help empower users from around the globe to be part of the digital identity revolution.
Authored by: David Lucatch, Co-Founder, President, Director & Chair of Liquid Avatar Technologies Inc.
Liquid Avatar Technologies Inc., through its wholly owned subsidiary KABN Systems North America Inc. focuses on the verification, management and monetization of Self Sovereign Identity, empowering users to control and benefit from the use of their online identity. The Liquid Avatar Mobile App, available in the Apple App Store and Google Play is a verified Self Sovereign Identity platform that empowers users to create high quality digital icons representing their online personas. These icons allow users to manage and control their digital identity and Verifiable Access and Identity Credentials, and to use Liquid Avatars to share public and permission based private data when they want and with whom they want.
This article is featured in NCFA's digital magazine, Fintech Confidential (Issue 4). Click to read the latest thought leadership, insights and trends about Fintech in Canada:
Checkout NCFA's digital magazine, Fintech Confidential (Issue 4) --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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