Updated branding reflects Company’s market activities as it extends its global reach.
TORONTO, ON / February 16, 2021 / KABN Systems NA Holdings Corp. (CSE:KABN)(OTC PINK: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 its Board of Directors, in accordance with its articles, has approved a name change of the Company to “Liquid Avatar Technologies Inc.”, subject to all other necessary approvals. It is expected that the name and a trading symbol change will take effect within the next 45 to 90 days. As part of the new name and branding program, the Company will continue to extend it business operations beyond North America as it plans to offer Liquid Avatar in multiple languages and jurisdictions.
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.
“With the growing interest in Liquid Avatar globally, and the upcoming launch of the Liquid Avatar app, now was the right time for the Company to change its name ahead of the potential increased brand value and will better reflect its market positioning,” said David Lucatch, CEO. “We believe that Liquid Avatar has the potential to change the way people think about and manage their digital identity as we work to deliver a fun, engaging and fulsome solution for individuals, governments, healthcare, education, and all types of businesses and services.”
The Liquid Avatar app will be available as an open beta app globally in the Google Play and Apple App Store on or about February 18, 2021, subject to all final approvals. The Liquid Avatar app will be launched in phases, with new features expected monthly. The Company believes that as it plans to provide future features, regular releases will provide users with the opportunity to familiarize themselves with existing features before moving on to more comprehensive services and the opportunity to manage their digital identity and verifiable credentials.
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.
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 the Liquid Avatar app is free to consumers and the Company 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 almost 400 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.
Interested individuals can sign up for Liquid Avatar and receive information and notices on upcoming releases and services by visiting www.liquidavatar.com
The Company, as part of its continuous commitment to its board of directors, executives, employees, and consultants, has reserved and allotted for issuance an aggregate of 6.8 million common share purchase options at a price of $0.345 with expiry dates of between 18 and 24 months, depending on the individual grant, subject to the adjustments and to the terms of the Company’s stock option plan. Additionally, the Company has issued 15,459 common shares as settlement for services provided under contract by an independent consultant.
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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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