What are Verifiable Credentials?

What are Verifiable Credentials?

A new and improved way to recognize someone’s learning, achievements, talents, and competence are through the use of digital Credentials. Digitally storing and exhibiting your abilities enables you to keep everything organized remotely , more crucially. Also, makes it possible for fast credential verification.

Even if digital credentials are not new, today’s credentials have encryption features that make them impenetrable, secure, and verifiable. All of the necessary data can be present on a verifiable credential, just like on a physical credential. The inclusion of technology like digital signatures makes verifiable credentials more tamper-evident and believable than their physical equivalents.

The most secure method of issuing and accessing the document is through verifiable credentials. After that the records are maintained in digital databases. They can be protected from unauthorized access by a digital passcode.

These three components make up Verifiable Credentials:

  • Metadata: Metadata is information that people are interested in that is about data or information about pertinent data. In plain English, metadata is information about information. Users are helped by metadata to identify data in data repositories and understand the information. Database management systems can be created, managed, utilized, and so on.
  • Claims: In order to prepare claims, keep paperwork current, and guard against the loss of crucial documents, claims management needs a system. Businesses can integrate computerized end-to-end claims operations into their current system using the claims management system (CMS).
  • Data Proofs: The popularity of cloud services and solutions has increased as a result of advanced technological capabilities. Proof of data possession protocols (PDP) meet a variety of requirements, such as ease of use and dependability, security, and high accuracy, and ensure the integrity of testing datasets kept on cloud servers.

The model of verifiable credentials is as follows:

  • The Issuer: Verifiable credentials make it difficult to tamper with the identification of an entity via attributes that can be cryptographically verified. They let you verify facts about people, companies, and other things. Each Verifiable Credential is generated by an Issuer. The person or organization that maintains records regarding a person to whom a credential is issued is known as the issuer.
  • The Holder: The Verifiable credentials are owned by the person who obtains them. Or, to put it another way, the person or thing who has the verifiable credential in the virtual wallet right now is the holder. Without worrying that it will be tampered with, the bearer can safely display, share, or store their credentials.
  • The Validator: The recipient of the information is known as the validator, and they can be either an individual or an organization. Simply put, a validator is a third party who verifies credentials to ensure their accuracy. The validator could, for example, be a recruiter who checks your qualifications.

In essence, issuers provide credentials, holders maintain credentials, and verifiers ask for verification based on those credentials.

Why should Verified Certificates be chosen?

  • Accurate Assessments:

Learners enrolling in digital certification programs obtain accurate evaluations since the course materials are curated with graded tests and integrated with technologies that track the learners’ progress and performance. Since the assessment grading is carried out using analytical approaches, the outcomes are completely neutral and exclusively based on performance reports.

  • Secure and Verified:

Blockchain technology is used to issue verified certificates, which streamlines the procedure and secures it using bank-level encryption. In other words, to prevent illegal or third-party access to the document, the certified certificate is typically encrypted with a digital passcode.

Aside from that, the validated certificate records are saved in digital databases, making it simple to verify the contents of the certificate as well as the issuing authority’s identification. Verified certificates are, in general, secure, easy to verify, and trackable.

  • Shareable:

Learners can share their verified certificates on every digital platform, including social and networking platforms like Facebook, Twitter, and LinkedIn. The certificate URLs or links allow learners to embed in on their portfolios, CVs, and Resumes for career advancements and professional development.

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