The impressive pace of technological innovations brought forth upon our society continues to grow at a rapid pace, however, no such technology has been growing at a quicker pace than the blockchain upon which cryptocurrency was founded. Blockchain technology has potential to disintermediate over 99 percent of financial services, and is currently being implemented across a plethora of other industries. Cryptocurrency is quickly gaining traction in mainstream society, as various brokerage companies have enabled options for users to capitalize on the massive investment opportunity provided by Bitcoin, as well as alternative coins like ETH and XRP, just to name a few.
The growing popularity of cryptocurrency has ushered in a great deal of information on blockchain technology, the foundation of safety and security that makes cryptocurrency so attractive. However, most retail investors don’t fully grasp the concept of this technology. Liquid Avatar is a Canadian company that is at the forefront of using blockchain to support digital identity. David Lucatch, tech entrepreneur and the founder of Liquid Avatar Technologies Inc., with his experienced leadership team, has positioned the Liquid Avatar platform to help shape the future of digital identity using blockchain technology. Liquid Avatar has built an integral utility that assures people have access to verifiable credentials across a number of interoperable and digital transaction platforms, using blockchain technology.
Currently, in most cases, people are left with no choice but to accept the fact that they must provide personal data and information in order to connect with government, healthcare, various companies and applications when registering, using, buying, or simply browsing websites, apps and business platforms. Overseeing entities like our governments have severely lagged to create laws which protect the data and personal information of the people and would otherwise impede the utilization of such data by companies, as well as a variety of social media platforms. However, new laws and regulations have been enacted to protect the rights of consumers from such data extraction. These new laws and regulations are a testament to how people are starting to understand the immense value of personal data and information.
Liquid Avatar is a firm proponent that the people should manage, control and benefit from the monetization of their personal data. In conjunction with blockchain technology and the upcoming changes to rules and regulations that govern such data, Liquid Avatar is at the forefront of this new wave of the future, giving consumers power over their personal information by helping them share and manage their data whenever they want, with whomever they want.
Liquid Avatar is creating a universal utility that empowers people to manage and control their personal online information through the use of one utility application. The Liquid Avatar Mobile App uses blockchain technology and biometrics as the bedrock for verifiable credentials. The company is a self-sovereign identity platform that is now available on Google Play and the Apple App Store, showcasing that data and verifiable identity is a tremendous value proposition.
This utility is on the cusp of demonstrating its substantial value, as people prepare for the upcoming use of new digital healthcare, testing and vaccine passports that will likely be required for travel on commercial flights. Presently, vaccine passports function through the use of QR codes which verify that an individual has been vaccinated. However, when using Liquid Avatar’s utility platform, an individual’s vaccine passport will soon be able to be verified using biometrics and verifiable credentials.
When utilizing Liquid Avatar, people will be able to control precisely the amount of their data that a website, application, or verifying party has access to through the presentation of a biometrically enabled verifiable credential, eventually diminishing or eliminating the archaic practice of using a username and password. Although the idea of a comprehensive digital wallet is seemingly in the distant future, Liquid Avatar is showing that managing an individual’s digital identity with biometrics and verifiable credentials is ready to be fully integrated.