1. What is the mission and vision of Folio?
We are in business to enable everyone to manage their own identity by building the most trusted mobile identity platform. We have a real opportunity to transform digital identity to be as convenient and accessible as it is secure and trustworthy:
2. Why is trustworthy digital identity critical for existing and emerging markets?
Digital trust will be crucial across the economy as now, more than ever, people need to be able to prove their identity and their status remotely.
But digital and ‘trust’ don’t always marry well in people’s minds. Now with everything ‘going digital’ at a blistering rate, the individual needs to be in control – if they don’t trust, if they can’t access and feel secure… digital identity becomes a burden and a threat.
3. How will digital identity transform the Canadian and global economy? How does Folio address challenges associated with this transformation?
Digital identity has the capacity to increase inclusion, citizen participation, and access to critical services for all. Rather than waiting 2 weeks for a face-to-face appointment with a local government department or driving 2 hours to the nearest bank, digital identity will allow all Canadians to prove who they are at the click of a button and unlock a wealth of sensitive and high-value services. We live in a connected world but the ability to prove your identity in that remote context has been slow to catch up. It’s time that we enable the same “contract of trust” that can be achieved in a face-to-face encounter but in a digital context.
At Folio, we believe all citizens should have choice and ownership of how they manage their identity, always taking active steps to build consent-driven, privacy-preserving solutions that nonetheless do not compromise on usability and experience. The self-sovereign, decentralised models will only thrive when the infrastructure suits the market and as such puts the citizen at the very centre of the ecosystem. Using Folio will allow Canadian citizens to register for a multi-purpose digital wallet, storing their credentials there and using them for an expanding set of services, private and public.
4. What role does Canada have to play as a leader in the space?
Canada is already contributing meaningfully to the global dialogue on digital identity, with DIACC facilitating debate, engagement and progress on critical pieces of infrastructure like standards and frameworks like the Pan Canadian Trust Framework (PCTF) that will enable decentralized digital identity and pave the way for international interoperability. Most importantly it’s the citizens themselves who are engaged and that is the most important stakeholder group. As the DIACC 2019 survey testified, 70 per cent of Canadians are ready to embrace digital identity as a means to improved inclusion and remote access to critical services. The expertise and know-how is there with exciting tech hubs across the provinces, regional governments approaching the topic with cautious optimism, and DIACC providing the forum and nurturing the dialogue between these stakeholder groups. It feels like Canada could be on the cusp of something exciting.
5. Why did Folio join the DIACC?
Digital identity requires collaboration and Folio is committed to participate in the local and international communities that will be driving the development and adoption of technology innovation in this fast-moving space. DIACC represents a diverse cross section of public and private sector stakeholders who will help Folio understand the localised opportunities and participate in the development of the PCTF for best practice and interoperability.
6. What else should we know about Folio?
Folio Technologies (Folio) is HQ’d in London, operates globally and is part of the wider SGO Group. SGO is committed to innovative companies that demonstrate long-term promise in areas that enhance lives especially in the key areas of:
SGO is built on the extraordinary success of Smartmatic, which leads the electronic voting industry in terms of revenue, profitability, geographical presence, innovation and quality of support services. SGO is headquartered in London.