Verafide, a verifiable credentials technology provider for issuers, holders and verifiers of digital credentials and ID, has announced the launch of their platform on the SETL enterprise blockchain.
The open source solution enables any community, network or organisation to set up and maintain a digital credentials ecosystem. Verafide offers a comprehensive tool set to issue, hold and verify digital credentials – a personal, secure digital certificate that proves a fact, a right or a qualification – combined with an integrated payment solution to allow organisations to commercialise their issuance.
Use cases include a variety of scenarios from KYC and legal documentation for financial services firms, to proof of identity or age, to digital credentials to evidence of vaccinations or professional qualifications.
The computer code Verafide developed to issue, present and verify the digital credentials has been open sourced in compliance with Government best-practice policy for public sector use. The high performance SETL blockchain maintains issuer’s identities and public keys as well as other information that allows verification of the digital certificates.
Verafide’s core functionality is open source. Verafide offers an open source SDK for the developer community, and is compliant with the global W3C Verifiable Credentials Standard. Its enterprise solution is delivered as SaaS and includes a ‘payment-for-credential’ functionality. The Verafide App can be downloaded from the iTunes and Google app stores.
Joshua Daniel, Chief Engineer, Verafide, said: we have been working tirelessly to build digital trust and resolve the inefficiencies in how credentials are created, shared and verified. Our aim is to work with natural trust infrastructures where issuers and holders of credentials will benefit from digitisation.”
Daniel added: “Covid has put the need for digital IDs firmly into the mainstream. We wanted to use our funding and technology not only commercially, but also to ‘give something back’ and help our country return to some sort of normality as soon as possible. This is why we have made our solution completely open source and one of our first projects is to work on digital credentials for Covid testing.”
Anthony Culligan, Verafide Advisor and Chief Engineer at SETL, said:
“As with the evolution of money from paper to digital, identity and credentials will follow. We are proud to be at the forefront of innovation for verifiable credentials and actively involved in developing common industry standards. With a multitude of digital wallets and credentials offerings expected to come to market, ensuring interoperability across systems and the ability to integrate into existing infrastructures is more important than ever.”
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