Toronto, Canada - TheNewswire - July 19, 2021 – Liquid Avatar Technologies Inc. (CNSX:LQID.CN) (OTCQB:LQAVF) (FRA:4T51) (“Liquid Avatar Technologies” or the “Company”), a global blockchain, digital identity, and fintech solutions company today acknowledges recent media reports on the status of the Ontario government’s decision-making process for issuing a digital COVID-19 vaccine credential. While several European nations have adopted the use of a vaccine ‘passport’, the Company respects the current position of the Premier of Ontario. The Company believes that a digital verifiable testing and vaccine credential would be used by businesses and the public to support the efforts of a safer re-opening and acceleration of the economy.
In commending the Ontario government’s overall vaccine efforts, the Company supports calls for the introduction, where applicable, of digital credentials - rather than paper proof or emails that could be possibly altered - that will support continuous COVID-19 testing and vaccination verification. Private sector solutions, like those from Liquid Avatar, are currently available, and in late-stage development. These solutions are being released, not to create a “split-society”, but to assist governments, public and private entities to continue to provide safer and more secure environments in which to travel, work, learn and conduct everyday activities.
“First and foremost, we want to acknowledge and applaud each level of government for their leadership in rolling out their respective COVID-19 vaccine programs. Ontario is now a leader in administering one-dose vaccines at almost 80% and two-dose vaccine treatments at over 60%, and this will undoubtedly be a principal factor in the efforts to support the economy returning to normal,” said David Lucatch, President, CEO and Chair of Liquid Avatar Technologies Inc.
In acknowledging the province’s vaccine rollout efforts, the company also echoed public statements made by business groups like the Toronto Region Board of Trade (TRBOT), calling for government to explore a vaccine ‘passport’ system. TRBOT, which speaks for thousands of businesses in the province, has claimed that negative testing and vaccination passports are “the only way to safely reopen larger events like business conferences and will help revive tourism.”
“It is not surprising that these groups want to see government help ensure that the people who enter non-essential businesses are vaccinated against COVID-19 and are supported in many cases by negative testing validation. With new strains, like the Delta variant, it may be just as important to add testing regimes to the digital credentials outlook, as we’ve seen that those who are vaccinated, could also be infected. The issue is one of liability and safety, as European countries like France and other jurisdictions have acknowledged by making passports a part of everyday life,” said Lucatch.
In Quebec, the government has announced the implementation of a QR-code system for use as a vaccine passport. The Company believes that by enhancing this type of system with digital identity and verifiable credentials, the process could be more secure and safer in the long run and support other identity, access, and qualification credentials as provinces like Ontario and British Columbia rollout their digital initiatives.
Liquid Avatar has developed and has started testing its state-of-the-art digital identity tools and solutions. Included in these is the Liquid Avatar Verifiable Credentials Ecosystem (“LAVCE”) that can potentially easily, efficiently, and affordably meet the needs of government, the business community, and frontline healthcare institutions as they adapt to a potential environment where healthcare testing and vaccine passports are essential. The Liquid Avatar Mobile app leverages biometric and blockchain identification technology and is currently available to download from the Apple App Store and on Google Play with digital credentials and wallet testing underway.
The Company is expecting to make further announcements on product delivery in the coming weeks that are aligned with its initiatives as a founding and steering committee of Cardea, a Linux Foundation Public Health project and as part of the Indicio Network. The Company is also a voting and steering committee member of the Trust over IP Foundation, supporting open standards in the development of Internet-scale trust, a member of the Good Health Pass collaborative, ID2020, Lumedic Exchange and the DIACC. As previously described in Company filings, the LAVCE contemplates state-of-the-art infrastructure that would be available for the holder, the issuer, and the verifier in ‘turn-key’ digital credentials solutions and that would support the introduction of COVID-19 testing and vaccine ‘passports’, education, access, qualification, and a host of other digital credentials powered by blockchain and identity technology.
“With the types of solutions being developed in the marketplace, governments, institutions, businesses and consumers are becoming increasingly aware that delivering a safe and secure digital vaccine passport system is an effective solution to the challenge of a broad reopening of the economy,” concluded Lucatch. “We have been encouraged by our conversations with partners in Canada and abroad to date and look forward to having future interactions on augmenting government’s successful health testing and vaccine programs with a re-opening plan that incorporates systems that support initiatives like globally recognized digital passports and other verifiable credentials.”
As part of the process of inclusion, the LAVCE is being built to support approaches that will allow users that do not have access to digital identity technologies to be able to participate via alternative methodologies to prove their credentials.
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About Liquid Avatar Technologies Inc. –www.liquidavatartechnologies.com
Liquid Avatar Technologies 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.
The Liquid Avatar Verifiable Credentials Ecosystem (LAVCE) is being built to support all participants in a digital credential ecosystem, including the Holder, Issuer and Verifier, using state-of-the-art blockchain and open standards technologies initially as a node on the Indicio Network. The Company is a voting and steering committee member of the Trust over IP Foundation, founding and steering committee member of Cardea, a Linux Foundation Public Health project, member of the Good Health Pass collaborative, ID2020, DIACC, The Linux Foundation and a founding member of the Lumedic Exchange.
The Company has a suite of early-stage revenue generating programs that support the Liquid Avatar Mobile App program, including KABN KASH, a cash back and reward program that has over 500 leading online merchants and coming soon, an integrated offering engine. In Canada, the Company also has the KABN Visa Card, a “challenger financial” 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 Card program to other geographic regions, including the USA. The Company's subsidiary, Oasis Digital Studios, is a creative and development agency that supports a wide range of artists, talent, and enterprises with Non-Fungible Token (NFT) solutions.
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 United States, on the OTCQB under the symbol “LQAVF” 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 include, but is not limited to, statements regarding the future launch of an integrated offering engine, statements regarding the future capabilities of LAVCE or the operation of an Indicio Network Node, statements suggesting LAVCE or an Indicio Network Node will be successfully launched and integrated into the Liquid Avatar platform, 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. With respect to (i) the future launch of an integrated offering engine, is based on the fact that the Company has substantially completed the current build of the platform as specified and that the Company believes that there are currently there no material outstanding items; (ii) statements regarding the future capabilities of LAVCE or an Indicio Network Node, the Company has assumed that the current blockchain technology and infrastructure will remain substantially unchanged, and that new technologies will need to be developed; (iii) statements suggesting LAVCE or an Indicio Network Node will be successfully launched and integrated into the Liquid Avatar platform, the Company has assumed that government, industry and market conditions will remain relatively focused on the testing and presentation of Covid testing, vaccination record presentation and other credential requirements for identity and access to venues, facilities, hospitality, education, healthcare, travel and other destinations.
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 from governments and other jurisdictional regulatory bodies; lack of sufficient capital to expand the Company's geographic footprint or to add new features to the Company's offerings, including to launch an integrated offering engine and to successfully complete the development of and launch and integrate LAVCE or an Indicio Network Node; 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.
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