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The Fintech Co. that’s Making a Real Difference in the Wake of COVID

Dave Jackson Dave Jackson, Stockhouse
5 Comments| January 14, 2021

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(Click image to play video)

KABN (pronounced ‘Cabin’) Systems NASystems (CSE.KABN, OTCMKTS: TRWRF, Forum) is a very different and very innovative kind of fintech company, KABN specializes in online identity verification, management, and monetization created from the formation of a consortium of industry leaders to improve credential security and contact traceability to fight the global coronavirus pandemic.

KABN has developed a game-changing methodology that “enables healthcare issuers, individuals, and verifiers to have a digital COVID-19 verifiable identity healthcare credential that is secure, user managed, and controlled to ensure privacy, transportability, and ease of use.” And, the company provides all of these services and features with no cost to the consumer.

In this enlightening and educational vodcast, Stockhouse Media’s Dave Jackson was joined by KABN North America’s CEO David Lucatch to discuss the Company’s leading-edge suite of products, recent revenue-generating partnerships, and a lookback to KABN’s record-breaking year in 2020 (including their IPO) plus, a lookahead to what’s in store for shareholders and investors in 2021.

TRANSCRIPT BELOW:

SH: So, David…let’s start out with 2020 – the year in review. Not optimal for many companies, but for KABN, its most successful year in its history…highlighted by revenue-generating partnerships, world-class telecom partnerships, the world's first-ever venue bubble implementation, and expansion into the travel, film, and live entertainment industries. Can you walk us through the exciting year that was for KABN?

DL: Well, Dave, those are really great opportunities, which we, we had some participation in, but generally speaking for 2020 our year was very big because a. we went public. So that was a, that was a very big milestone for us in June and additionally you know, while we stayed relatively quiet towards the end of the year, we were also very fortunate that we completed two significant financings at the end of the year, but where we're really focused now is, is on helping users or empowering users to create, manage, control and monetize their online identity or self-sovereign identity. And, and 2020 really gave us an opportunity to partner with great companies like LOOP, MTRX and others, which we're actively involved in, in a lot of these bubble opportunities. And I think going forward into 2021, we'll see some amazing opportunities with new and exciting partners that we've announced and will be announcing.

SH: You’ve seen your shareholder value skyrocket since early December...nearly tripling in just a month. So what’s the secret sauce here?

DL: Well, I think it's you know, not moving too soon. We waited and really focused on getting our, as they like to say a ducks in a row and wanted to make sure before we were ready to come out of the gate, that we were, we were ready to do so. And I think on December 7th we had a stellar day having announced a financing with Mackie Research. And then that same day, I think the market started to understand our relationship again with LOOP. And then the day after on the eighth, we announced our, you know, COVID credentials consortium. And from there things have just progressed. You know, we finished two financings, both a brokered and a non brokered financing. And I think we really got onto everyone's radar screen, which was our intention, but when we were ready, so it's been a great, great couple months for us.

SH: Can you explain to our investor audience regarding your recent corporate partnerships to verify COVID-19 vaccination verifiable credentials? This sounds like big news here!

DL: Well, you know, it is a mouthful, but think about the situation where when you leave home in the traditional world, you know, you're going to carry your wallet and your key ring. And those, those two things along with your facial recognition really help prove your identity, but what do you do online? I mean, think about it. So our system allows you to do biometrics, which is facial recognition and start to create what's called a verifiable credential or verifiable identity credential that says we can prove that you are you and your data and all your information belongs to you. It does not belong to us. We can never sell or rent it. So taking that one step further, having established a biometric footprint, a verified identity and a verifiable credential, it makes it rather simple to apply it to a whole bunch of sectors, including healthcare. And, and so we formed this consortium with again, LOOP and, and TripXpertz and The Campus Agency and Lumedic exchange, and several others really to empower the opportunity for governments to look at credentials as not as a physical card that anybody could duplicate, but as a real digital credential that you could carry inside an electronic wallet and move in and out as necessary.

SH: How does this KABN, Liquid Avatar, Lumedic, Loop Insights, The Campus Agency, and TripXpertz consortium manage verifiable identity credentials for COVID-19 vaccinations work together…and what are the long-term benefits to investors?

DL: Well, I think each one of our partners has a unique specialty and, and if people do a little bit of research, which they should always do on their own, they're going to see the value proposition and, and Liquid Avatar helps users manage their information, their online information by creating these unique icons, these avatars that you can control and manage, and you can then determine what you want to share when want to share it and with whom you want to share it. So that's really important. You're in control. So by adding really great partners, which we've got some on the horizon, I hope we mentioned today, that we'll be able to create a number of credentials, maybe for education, for university, maybe for when you travel, maybe for when you enter a venue or a bubble, there's all kinds of opportunities with the existing partners and new and exciting partners are coming on board to enhance Liquid Avatar services, but also to increase the breadth and depth of what we can offer in terms of verifiable credentials that people can hold in their electronic wallets.

SH: Recently, KABN and your program, Liquid Avatar, launched a Cloud-based biometric identity verification for self-sovereign identity, digital wallets, verified credentials, and now the new KABN Visa Card. How exactly does this work and what are its inherent benefits?

DL: Well, again, you know, if you think about online e-commerce, unfortunately the industry, and my numbers may not be perfect, but I believe the numbers around $30 billion a year in identity fraud for e-commerce and related commerce activities. You can imagine if we could connect your face, your credentials, and every time you used a card online, you had to prove who you are, same as you do in the real world, you have to give a PIN physically, or you have to give a signature physically, then you can imagine that fraud might diminish dramatically. And that would save the ecosystem a lot of money. When we look at biometrics and education, we look at the ability to prove that, you know John took that test or Mary took that test. You know, it's important, maybe not at an early stage, but when you get to high school or university, that's a very important factor. When you're looking at government services, information services, healthcare, travel, biometrics are a way that you can ideally identify who you are. And that means also in our system, that Liquid Avatar that there is one user, one account, no fakes, no bots, no hacks. So when we work with commercial vendors, we're bringing them real users because all our users are biometrically verified. So for, for commercial opportunities, you know, there is no marketing spillage, marketing companies are not spending money to reach fake users. In our system you're only reaching real users.

SH: The company appears to be nicely cashed up. In mid-December, KABN announced that its non-brokered private placement financing for up to $2 million dollars is oversubscribed and had been upsized to $3 million dollars. Can you walk us through this PP?

DL: Sure. Actually there was two, it wasn't one there was two. Mackie Research, did a broker deal for 1.15 million. And we had so much interest. We were able to do a non broker deal for another $3 million. And even at that point we couldn't fill the interest. So it's been, it's been very humbling to see that kind of interest. But I think people are understanding that online identity is really important. And as we go forward, you know, adding financial services, which we partner with, again, a good plug for XTM, which is PAID on the CSE. So at the end of the day, we're partnering with programs to bring our users real value and create real value from their online identity, but still giving them control. And I think the market is understanding that. When we started KABN three years ago, we put, like any company, we put a stake in the ground and you know, normally you would have to pick that stake up and move it. We've been really fortunate that that stake has been planted well, and we've seen the market moved towards our stake and we actually haven't had to pick it up. So we've remained laser focused on what we want to accomplish. So again, humbling to see that kind of response, great to see new investors and we're really, really excited to move forward.

SH: Can you tell our audience about how KABN started and the building of your corporate management team…especially the experience and innovative ideas they bring to the fintech industry?

DL: Well, we're very fortunate. We've got, probably, the absolutely the best team I've ever worked with. We've got some great people from a number of different industries in our senior leadership team and on average has about 25 years plus experience each and KABN started as a way to empower users to create and manage their online identity. But at that time it was sort of called digital ID. Then it became sovereign ID. Now it's called self-sovereign identity and we're a steering committee member of the trust over IP foundation. So we're working with great corporations like IBM and MasterCard and, and you know, Accenture and USAA and a number of really outstanding organization on the steering committee to help, you know, help users and the industry navigate this self sovereign identity. So we've really been focused on empowering users. What's been really great is that the market speed in which people are understanding that there is a value in my identity online has been really helping us and we're going to be adding some great new services. And I believe by the time this does come out, we'll have talked about a release with, you know, ImagineAR which means, you know, IP on the CSE and we'll be adding a lot of new technologies allowing augmented reality to join into Liquid Avatar. So we can add some new immersive experiences for our users.

SH: David, for investors who are new to your company, what sets really KABN apart from other companies in this space?

DL: I think it's the fact that that we've really looked at a company. Most companies look sort of from the top down, we look at business to business, to consumer. We're exactly the opposite. We start with consumers and work our way up. So we're really focused on the consumer market. So we can work with consumer groups, business groups, organizations, you know universities all kinds of, of government agencies to empower users, to empower consumers because the laws have changed globally. And especially in Europe and now in California and Canada is, is updating their privacy rules and laws and data laws. And, and it really is going to mean that consumers have control over their data. So we've started that from day one. So we really believe that that sets us apart. We're focused on the user, not primarily on the business. We believe if we can empower users, business will follow.

SH: Finally, David, if there’s anything I’ve overlooked and you’d like to share with our audience, please feel free to elaborate.

DL: Well, thanks Dave. I mean, I really think we covered a lot and there's a lot to absorb, you know, we welcome everyone. The best website that they can visit is probably our Liquid Avatar site at www.liquidavatar.com. And you know, we're open to questions. If someone's got a question, reach out to us, we want to hear from our investors and our stakeholders, and we're looking forward to an amazing 2021.


To find out more, visit kabn.network.


FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.


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