CALGARY, AB, Feb. 15, 2022 - ATB Ventures, the research and innovation arm of leading Alberta-based financial institution ATB Financial, is collaborating with the Government of Canada to provide the technology platform to support their National Digital Trust Service proof of concept. ATB Venture's blockchain-identity management solution, Oliu™ and digital credential wallet, Proof, allow businesses and regulators to develop use cases and issue, use and verify digital credentials in a secure, sandbox environment.
"ATB Ventures is excited to be partnering with the Government to advance Canada's digital identity efforts," said Sue McGill, SVP of ATB Ventures. "With identification sitting at the heart of every interaction—online and off—having a secure, self sovereign identity system that provides a positive user experience and privacy by design is critical to not only the competitiveness of Canada, but also to driving inclusive, economic growth."
The Government of Canada is working with regulators and organizations to explore and test their digital credentials use cases through the National Digital Trust Service Proof of Concept, and simultaneously advance the adoption and maturity of technologies related to digital credentials.
As Canadians continue to deepen their connections with the digital universe and increase their demand for more mobility, a critical piece to digital ID's success and unlocking its full potential is the standards for interoperability.
"Interoperability and standards are necessary for maintaining trust and transparency in a modern day digital economy," said Nav Dhunay, Head of Technology, ATB Ventures. "Oliu and Proof leverage leading digital identity frameworks, inclusive of the Pan-Canadian Trust Framework (PCTF), the recently announced National Trust and Identity Fundamentals, and emerging open standards such as Indy Aries Credentials and the W3C Verifiable Credential model."
With traditional identity solutions challenged with inaccessibility, privacy issues, and data insecurity, increasingly—governments, financial institutions and consumers are all coming to the same conclusion: self-sovereign digital credentials are needed now. And ATB Ventures is proud to be part of the movement to advance SSID in Canada.
To learn more about ATB Ventures' blockchain identity management solution visit oliu.id.
About ATB Ventures
ATB Ventures is the research and innovation arm of ATB Financial, Alberta's leading personal banking company. Driving growth at the edges and exploring opportunities beyond financial services, ATB Ventures focuses on helping companies bridge the gap between consumers' increasing concerns about privacy and security, and their desire for more unique, personalized digital experiences.
About Oliu & Proof
Oliu is a blockchain-identity management solution that makes it easy for businesses to issue, manage and verify customer credentials, digitally. Built on open standards, Oliu leverages identity frameworks such as the Pan-Canadian Trust Framework (PCTF) and National Trust and Identity Fundamentals to make mobility and interoperability between identity systems possible. Proof is a mobile wallet that puts all your digital credentials at your fingerprints. Using advanced encryption, Proof makes it easy for you to store, manage and share your verifiable credentials all in one place.
About The Government of Canada
The Government of Canada works with Canadians in all areas of the economy and in all parts of the country to improve conditions for investment, enhance Canada's innovation performance, increase Canada's share of global trade and build a fair, efficient and competitive marketplace.