Feb 22, 2021 in Member Spotlights by DIACC

Spotlight on Vaultie

1.What is the mission and vision of Vaultie?

At Vaultie our mission is to allow physical people to both provide, and control, indisputable links to their digital documents (and other assets) while providing complete user control over their documents privacy. From legal documents to payments to driver’s licenses, we strive to let people stand beside their actions and intent. We do this by building secure, easy-to-use software based on verifiable credentials, blockchain, and ethical facial recognition. All of which have incredible power to enable this technology and together are creating the ability to provide a safer and more efficient future.

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

A trustworthy digital identity is critical for existing and emerging markets because it breaks down barriers and allows business to be conducted regardless of location and economic circumstances. The ability to trust a person, despite not having them physically present is necessary to allow cross-border cooperation on business activities and this software facilitates this.

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

Digital identity will streamline the way Canadians access their most important services, from government services to banking, to legal documents. Most importantly, digital identity and authentication shift control of that information to the user which is more secure and protects their privacy.

Digital identities will become a critical compliance tool for many businesses, particularly banking, law, government services, and insurance by facilitating trust between the person and a “Verifier”. On the most relatable level, the trust that can be facilitated by digital identity enables Canadians to spend less time physically having to go somewhere to show credentials or sign documents and more time on their own projects or with their families.

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

Canada has already demonstrated its ability to lead the charge in digital identity and services. It has an educated user base who are demanding frictionless interactions with industries that seem to be willing to adopt them. DIACC plays a central role in bringing all of those players to the table and creating a unified landscape which we can use to facilitate digital identity standards across various industries. We’re thrilled to be joining the conversation on how to best make that a reality.

5. Why did your organization join the DIACC?

We think Verifiable Credentials and digital ID play an important role in shaping the way Canadians access their services and conduct business. There’s a lot of industries that need to collaborate in order to facilitate that reality. We joined DIACC to be part of that conversation, offer our expertise on Identity linked documents, and learn how we can facilitate the adoption of digital ID and authentication through conversations with other industry players.

6. What else should we know about your organization?

We’re a group of young energized technologists, with backgrounds in financial services and blockchain, and access to a coffee machine! We’re driven by allowing people to show transparency in their business dealings, while maintaining their privacy. Vaultie started off with a goal of creating a fraud-proof digital signature, which could show indisputable proof that a person, and not just their account, signed a document. We’re really proud of our Vaultie digital signature product, which can be verified and trusted by any third party the signatory chooses to share it with. We could not have dreamed about the opportunities that now exist with digital credentials and are excited to be working on the future of trustless interactions.