Jan 19, 2021 in Member Spotlights by DIACC

Spotlight on ECAD Labs Inc.

1.What is the mission and vision of ECAD Labs Inc.?

At ECAD Labs Inc., our mission is to increase the GDP of the blockchain economy by creating safe and easy-to-use software development tools for blockchain applications. As an open-source first company, we are most successful when we empower all developers to build innovative, world-changing applications

2. Why is trustworthy digital identity critical for existing and emerging markets?

Decentralized ID and authentication tools built on public blockchain protocols will provide an accessible, trusted, and secure platform for individuals to manage their personal information and interact online with businesses and governments. These tools can have a profound impact on Canada and emerging markets by improving access to regulated online services while reducing reliance on intermediaries that may suffer from limited oversight or trust.

3. How will digital identity transform the Canadian and global economy? How does ECAD Labs Inc. address challenges associated with this transformation?

Decentralized digital identity and authentication will transform the Canadian and global economy by shifting control of personal information back to consumers and reducing compliance costs for regulated entities providing online products and services.

This technology will become a critical compliance tool for businesses and institutions as virtual currencies, digital securities and other blockchain-based products and services are integrated into regulated markets.

At ECAD Labs Inc., we are building open-source developer tools to simplify the adoption of decentralized digital identities in blockchain applications.

4. What role does Canada have to play as a leader in this space?

As an advanced, educated, and urbanized economy with high online connectivity rates, Canada is well-positioned to become a leader in the development and adoption of digital identity and verification technologies.

DIACC plays a vital role in this process, and ECAD Labs Inc. is excited to join the conversation.

5. Why did ECAD Labs Inc. join the DIACC?

At ECAD Labs Inc., we believe that decentralized digital identification and verification tools  will facilitate the mass adoption of virtual currencies and other blockchain technologies. Our goal is to provide our clients with open-source software development tools that support vendor neutral access to decentralized ID and authentication services interoperable across technologies and jurisdictions.

Joining DIACC will help us understand, support and develop decentralized ID and verification standards, meet community members and advocate for a regulatory environment that promotes Canadian innovation.

6. What else should we know about ECAD Labs Inc.?

ECAD Labs Inc. is a Vancouver based software development company that builds and maintains open-source software development tools and libraries for the Tezos blockchain protocol, including the TezosTaquito.io TypeScript library, Signatory.io remote signer, and TezGraph.com indexer API. We are currently working with industry partners to support decentralized identities in various blockchain applications.