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.
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
"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".
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.
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. Users can also visit the Liquid Avatar Marketplace (www.liquidavatarmarketplace.com) if they are interested in purchasing custom icons from leading pop-culture, anime, and comic book artists. In the future, users will also be able to upload certain personalized images and logos to represent their avatars.
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 also has its KABN KASH rewards and loyalty program, with over 300 major online vendors, that will provide Liquid Avatar users with cash back incentives for purchases they make through KABN KASH. This program, together with the KABN Visa Card (initially available in Canada with the US and other regions under review), provides users with new and innovative ways to create and earn value.
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.
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.
Interested individuals can sign up for Liquid Avatar and receive information and notices on upcoming releases and services by visiting www.liquidavatar.com
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About Indicio - www.indicio.tech
Indicio.tech is a professional services firm specializing in decentralized identity architecture, engineering, and consultancy. Indicio provides expert guidance to a global community of clients on the use of verifiable credentials to build privacy preserving digital identity solutions. The decentralized networks and tools created by Indicio make verifiable credentials easy to adopt, simple to deploy, and reliable to use. As a Public Benefit Corporation, Indicio is committed to advancing decentralized identity as a public good that enables people to control their identities online and share their data by consent. Indicio believes in security by design, interoperability, and supports the open source goals of the decentralized identity community.
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"
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Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but is not limited to, information concerning the ability of the Company to generate revenues, roll out new programs and to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.
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SOURCE: KABN Systems NA Holdings Corp.