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2023-09-23
Credentials are used to identify and describe individuals, be it qualifications like university degree certificates, assets like house deeds, records like birth certificates or capabilities like drivers license. They are traditionally issued physically.
Verifiable Credentials are digital and cryptographically verifiable and traceable to authenticate the party who issued it, to the person who it was issued to.
This provides an unprecedented amount of privacy, security and assurance for credentials that we haven't seen before.
Verifiable credentials are designed to be tamper-evident and can be easily shared with others, allowing for quick and secure verification of the claims they contain. For example, a verifiable credential could be used to prove that a person has a certain level of education or certification, or that they are over a certain age. The use of verifiable credentials can help to reduce fraud and increase trust in online interactions.