cheqd, an organization that empowers customers and organizations to achieve management and portability of their knowledge, has launched Credential Service, which supplies organizations with an easy-to-use, plug-and-play resolution for issuing and sustaining credentials. digital identifiers.
The “Credential-as-a-Service” supplied by cheqd is an out-of-the-box software-as-a-service resolution that may be rapidly carried out in any enterprise. Cheqd gives companies a easy approach to simply difficulty and validate decentralized credentials with its credential service. It eliminates all of the complexity and technical experience wanted to create or combine decentralized identification into present programs, permitting enterprises to difficulty and confirm trusted credentials in a couple of easy steps. Utilizing primary API companies, software builders can simply create and handle credentials. It gives options equivalent to revocation registers, decentralized credentials, identification keys, verifiable credentials and shows, and credential cost. Consequently, cheqd companions now have the selection of utilizing a core set of API companies as an alternative of together with extra advanced and nuanced software program growth kits (SDKs).
Credential Service will present a means for everybody to entry upcoming cost capabilities, cheqd’s first function enabling on-chain funds for off-chain verified knowledge, as a part of the corporate’s total mission. Anybody can develop utterly new enterprise fashions utilizing the power to pay, equivalent to trusted knowledge marketplaces.
Organizations can use Credential Service to entry cheqd’s Decentralized Id Framework (DID) within the quickest and most effective means potential with out the necessity for specialised technical information. DIDs are a key element of enabling know-how for self-sovereign identification (SSI), which provides people authority over the information they use to authenticate to web sites, functions and companies on the Net. Customers can save all of their info in digital wallets that defend their privateness, improve private knowledge safety, cut back danger, and streamline the verification course of.
The Credential Service relies on blockchain know-how from cheqd, a dependable, permissionless and absolutely GDPR-compliant public community in Europe. It’s fastidiously constructed with the upcoming European eIDAS laws, which regulates digital identification and belief companies for digital transactions, as it’s based mostly on self-sovereign identification know-how. No personally identifiable info is saved on its community, as is the case with all cheqd merchandise. As a substitute, delicate person info is saved off-registry, the place it’s saved personal and safe. Any figuring out info will be rapidly reviewed and confirmed because the info is signed and verified by trusted on-chain identifiers.
cheqd’s ID service can be utilized for a wide range of use circumstances, equivalent to Know Your Buyer (KYC) verifications, credential verification, and on-line repute. Totally compliant with all relevant rules, it additionally facilitates funds for digital IDs.
Avishay Litani will be contacted at avishay@marketacross.com for some other questions or interview requests.
