- The Liquid Avatar Wallet is part of the upcoming release of the Liquid Avatar Mobile App
- This downloadable digital wallet enables consumers to use secure digital identity credentials anchored in blockchain technology
- The Liquid Avatar Wallet provides secure identity and health verification while safeguarding personal information
- Liquid Avatar Technologies will offer a software development kit (SDK) for both iOS and Android to enable all types of organizations to support digital wallets
- Liquid Avatar Technologies empowers users to control and benefit from the use of their online identity
- Liquid Avatar Technologies Inc. (LQID) is currently trading at C$0.06 per share
Liquid Avatar Technologies (LQID) introduces the Liquid Avatar Wallet, an update to the Liquid Avatar Verifiable Credential Ecosystem (LAVCE).
This downloadable digital wallet, part of the upcoming release of the Liquid Avatar Mobile App, enables consumers to use secure digital identity credentials anchored in blockchain technology.
The Liquid Avatar Wallet unlocks a new way of issuing, sharing, and verifying information, providing immediate benefits to businesses and organizations. Businesses of all sizes can now interact with customers knowing that the information shared is valid, while also preserving privacy and preventing fraud.
Some of the many benefits of the Liquid Avatar Wallet include:
- Identity and health verification can support social responsibility and the return to everyday activities
- Credit card fraud can be mitigated when both online and offline purchases are tied to an easy-to-verify proof of identity
- Purchases that require proof of age can be verified without disclosing personally identifiable information
- Travel can be streamlined into a simple one-scan verification
- Passwords are no longer needed. Once a credential is issued by a trusted entity, it can be verified through a distributed blockchain network
“One of the key benefits of the LAVCE and the Liquid Avatar Wallet that I feel very strongly about is that it increases value for all parties,” said David Lucatch, CEO—Liquid Avatar Technologies Inc.
“While we’ve all been keenly focused on health verifications, there is so much more that verifiable credentials and the Liquid Avatar Wallet can do. Age verification is a critical issue for those that sell restricted products and failure to do so can lead to loss of opportunity to sell a variety of products and potentially loss of income and business. The potential risks of identity fraud are constant and can be costly. We’re making this kind of verification reliable, hassle free, and low cost. That’s step one. And if we then integrate verifiable credentials with point-of-sale systems, selling restricted items to underage customers could be effectively eliminated.”
Liquid Avatar’s Wallet and credential ecosystem was built with the same data privacy principles and technical standards as the Province of Ontario’s plan for Digital Identity.
This means that the Liquid Avatar Wallet will be interoperable with other identity credentials built using the same guidelines. As a member of the Digital Identification and Authentication Council of Canada (DIACC), Liquid Avatar is following the guidelines set out by the Pan-Canadian Trust Framework for digital identity.
“The ingenious thing about this technology is that it is custom built for a world where there are exemptions to everything,” said David Lucatch.
“We can automate and rapidly update the most complex government or commercial requirements without placing any burden on the user. Theseare the keys to the future—flexibility and simplicity. We are hopeful that the chaos of Covid will eventually dissipate, but we are moving to a world where a user’s data privacy and consent is part of everyday life. This technology delivers simple, flexible solutions on all fronts.”
To encourage adoption, Liquid Avatar Technologies will offer a software development kit (SDK) for both iOS and Android to enable all types of organizations to support digital wallets and verifiable credentials easily and effectively.
Liquid Avatar Technologies 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 Technologies Inc. (LQID) is currently trading at C$0.06 per share.
