Liquid Avatar and Vector Health Implementing Digital Verifiable Credentials for COVID-19 Health Testing and Verification
System provides digital identification, testing validation & verification at authorized locations
TORONTO, ON / ACCESSWIRE / April 27, 2021 / Liquid Avatar Technologies Inc. (CSE:LQID)(OTC PINK:TRWRF)(FRA:4T51) ("Liquid Avatar Technologies" or the "Company") a global blockchain, digital identity and fintech solutions company, is excited to announced that it has signed an initial agreement to partner with leading COVID-19 testing and health verification organization, Vector Health Laboratories ("Vector Labs") to implement a verifiable identity and credentials platform. The collaboration will utilize Liquid Avatar's Verifiable Credentials Ecosystem ("LAVCE") for the electronic issuance and verification of COVID-19 testing results using best in class testing and lab facilities, enabling manufactures, retailers, sports arenas, camps, recreational and healthcare facilities, hospitality, manufacturing, government, tourism and transport operations to ensure that individuals are verified and have accurate and timely test results to keep operations safe and open, helping people to get back to everyday activities. Utilizing Vector Labs flagship product, Vector Perimeter System that delivers state of the art technologies enabling individuals to monitor their health in real time, digital identity and access verifiable credentials will provide users with transportable and provable results, kept secure and safe through facial recognition and other future biometric controls inside their digital wallet within the Liquid Avatar Mobile App.
"Vector Labs is excited to be partnering with Liquid Avatar to provide our clients and customers with the ability to manage their test results through a digital wallet that supports verifiable credentials and identity verification," said Jay Fischbach, CFO - Vector Health Laboratories. "By ensuring that people can prove who they are and that test results are validated, we can help keep locations safe and accelerate the re-opening of the economy."
Once a user is tested and are issued their digital credentials, facilities will be able to easily request that a user present their digital credential, through a QR code or web link that resides in an individual's digital wallet, for review and acceptance through a simple validation process. Along with their credential, user's will be presented with a challenge, like facial recognition, to ensure that the credential belongs to them and is valid. All this is done using W3C industry standards, a governance framework, and Liquid Avatar's blockchain ecosystem that is powered by IBM's Hyper Ledger Indy platform.
The process checks the verifiable identity credential against a pre-determined screening process, which can include a full industry standard identity review (KYC / AML) and, where applicable, permission-based facility, employment, and other records together with the verifiable access credential, providing testing details, including type and length of validation and the results. This process ensures that both the individual and the test results are validated, reducing identity and testing fraud and other related issues.
"Liquid Avatar's mission is to empower people to manage and control their digital identity and to securely and safely be able to prove who they are and benefit from their personal data," said RJ Reiser, Chief Business Development Officer - Liquid Avatar. "Our partnership with Vector Labs and the upcoming launch of our Digital Wallet and Verifiable Credentials Ecosystem will provide the tools to support the issuance of testing credentials, manage them securely in a digital wallet and present them for validation, ensure that environments are safe for work, play and everyday activities."
Users receive their digital wallet and verifiable identity and access credentials at no charge from Liquid Avatar. Revenues will be generated from the testing process and verification and validation services. The Vector Labs process will pilot this Summer at selected facilities and outlets and is expected to quickly rollout to facilities across Ontario and other regions thereafter.
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About Vector Health Laboratories - www.vectorhealth.ca Vector Health Laboratories is a Health Care Technology and Data Analytics company located in Toronto, Ontario. Vector's flagship product, ‘Vector Perimeter System' utilizes state of the art technologies that enable individuals to monitor their health in real time. As the owner & operator of Ontario Lab License #5697, Vector takes plays an active role in keeping business safe and open through the deployment of the Perimeter alongside best in class testing and lab facilities.
About Liquid Avatar Technologies Inc. - www.liquidavatartechnologies.com 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 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.
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 400 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.
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Liquid Avatar Technologies Inc. is publicly listed on the Canadian Securities Exchange (CSE) under the symbol "LQID" (CSE:LQID).
The Company also trades in the US under the symbol "TRWRF" and in Frankfurt under the symbol "4T51".
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All websites referred to are expressly not incorporated by reference into this press release. 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 timing for the launch of Liquid Avatar apps, the plans for future features of the Liquid Avatar apps, expected geographic expansion, 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. By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: failure to obtain necessary approvals in a timely manner or at all; lack of sufficient capital to expand the Company's geographic footprint or to add new features to the Company's offerings; changes in general economic, business, and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
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