How it’s works ?

Verifiable Credential

A Verifiable Credential is a digital credential that contains information about a person or entity, such as their name, date of birth, or other personal data. What sets Verifiable Credentials apart from other digital credentials is that they are designed to be easily and instantly verifiable by anyone who needs to check their authenticity, such as employers, universities, or other organizations.

Verifiable Credentials are based on a technology called Decentralized Identifiers (DIDs) and a data format called JSON-LD. DIDs provide a unique, decentralized identifier for each person or entity, while JSON-LD provides a standard way to represent information in a machine-readable format.

Verifiable Credentials are created and managed by the owner of the information, who can choose which information to include in their credential and who they share it with. This gives individuals greater control over their personal data and reduces the need for trusted third parties to manage and verify credentials.

Verifiable Credentials are specified by a W3C Recommendation available at the following URL: Verifiable Credential Data Model v1.0

Decentralized Identifiers are specified by a W3C Recommendation available at the following URL: Decentralized Identifiers (DIDs) v1.0

JSON-LD is a JSON-based serialization for linked data specified by a W3C Recommendation available at the following URL: JSON-LD v1.1

Verification

When a Verifiable Credential is presented to a verifier, the verifier can check the credential’s authenticity by verifying the digital signature on the credential using the public key associated with the credential issuer’s DID. This allows the verifier to be confident that the information in the credential is accurate and that it was issued by a trusted source.

Overall, Verifiable Credentials provide a secure and decentralized way to manage and share personal data, which has many potential applications in areas such as identity verification, access control, and more. Nanotrust has built a platform to ease all of this.

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