Liquid Avatar upgrades consumer app SSI as staggering growth forecast for decentralized ID

Liquid Avatar has updated its digital identity mobile app to provide “Smart Age” government and health credentials to consumers based on sovereign identity principles. Voice recognition as a secondary biometric authentication method is one of the features introduced.

The company says its Liquid Avatar Mobile App and Liquid Avatar verifiable credential ecosystem, which it calls “LAVCE,” can support a wide range of physical and online applications and comply with emerging regulatory requirements. and difficult. An upcoming SDK and APIs will enable integration with third-party apps to enable app and game developers, payment processors and others to offer identity verification within their own services.

New features in the update include encrypted messaging, machine-readable governance, and LQID card, which will soon be available in the United States, according to the company’s announcement. The app’s bank-grade reusable digital identity credentials are suitable for over 200 countries. Secondary authentication can now be performed by SMS, PIN or voice biometrics.

The interface has also been updated and verifiable credentials are available for metaverse, restaurant reservations, KYC validation and games.

“Based on the principles of Sovereign Identity, individuals and entities can create a reusable, verifiable identifier that can be used with the LAVCE platform to prove who they are without sharing private data,” comments RJ Reiser, Chief Information Officer of Liquid Avatar. “It’s the foundation for providing safe and secure online services that are beginning to realize the benefits of Web3.”

The decentralized digital identity market, meanwhile, is estimated at $285 million this year by MarketsandMarketsreaching more than $6.8 billion by 2027, for a staggering compound annual growth rate of 88.7%.

According to the new market report, the increase in identity breaches and fraud is driving the adoption of decentralized identity in enterprises. The BFSI segment is expected to lead in adoption during the forecast period.

Uncertain regulatory status and fragmented standards could hold back growth, according to MarketsandMarkets.

Social Impact Partnership

Liquid Avatar has also partnered with DARE America to provide 30,000 virtual plots through its Aftermath controlled subsidiary Islands Metaverse.

DARE stands for Drug Abuse Resistance Education.

The idea is for organizations to jointly develop new mixed reality and engagement programs to support DARE and associated brands and communities.

“For more than 20 years, I have been associated with and supported the DARE program, its team and its communities,” said David Lucatch, CEO of Liquid avatar technologies, and Managing Director of Oasis Digital Studios Limited and Aftermath Islands Metaverse Limited. “I have seen firsthand the progress that the DARE organization continues to make in teaching K-12 students, families, and communities not only drug and alcohol resistance, but also the online safety, opioid avoidance, metal health initiatives, and other programs that help improve the well-being of students and their communities. In my experience, the interactions students have had with DARE agents and the program are remembered as they continue on their life journey. Our team is honored to have this opportunity to bring the innovative and immersive programs of Liquid Avatar Technologies to DARE America and their communities to help run this important mission in our increasingly digital world.

Article topics

biometric authentication | Decentralized ID | digital identity | Liquid Avatar | metaverse | mobile app | self-sovereign identity | verifiable credentials

About Stuart M. McFarland

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