cheqd, a enterprise that allows customers and organizations to handle and transfer their information, has launched Credential Service, which supplies organizations with an easy-to-use plug-and-play resolution for issuing and sustaining digital credentials.
Credential-as-a-Service by cheqd is an out-of-the-box software-as-a-service resolution that may be rapidly deployed in any enterprise. Cheqd affords a easy manner for companies to simply problem and validate decentralized credentials with their credential service. It removes all of the complexity and technical experience wanted to create or combine a decentralized identification into present programs, permitting companies to problem and confirm trusted credentials in just some easy steps. Utilizing core API providers, utility builders can simply create and keep credentials. It affords options corresponding to revocation registries, decentralized identifiers, identification keys, verifiable credentials and supply, and credential cost. Consequently, cheqd companions can now select to make use of a core set of API providers as a substitute of together with extra complicated and nuanced software program improvement kits (SDKs).
Credential Service will give everybody entry to imminent funds capabilities, and is the primary function of cheqd to allow funds for off-chain verified information as a part of the corporate’s general mission. Anybody can create fully new enterprise fashions with a cost choice like Trusted Information Markets.
Organizations can use the Credential Service to entry the cheqd Decentralized Identification (DID) system within the quickest and most effective manner with out requiring any particular technical information. DID is the core enabling expertise for self-identified identification (SSI), which empowers people to manage the info they use to authenticate themselves to web sites, apps, and net providers. Customers can retailer all their info in digital wallets that defend their privateness, improve private information safety, scale back threat and simplify the verification course of.
Credential Service relies on the cheqd blockchain expertise, a trusted, permissionless public community that’s totally GDPR compliant in Europe. It has been fastidiously designed with the upcoming EU eIDAS laws governing digital identification and digital transaction belief providers in thoughts, as it’s primarily based on self-identifying expertise. No personally identifiable info is saved on its community, as is the case with all cheqd merchandise. As an alternative, delicate consumer info is saved exterior the ledger the place it’s personal and safe. Any credentials could be rapidly reviewed and validated as a result of the knowledge is signed and verified by trusted identifiers on the chain.
Cheqd’s credential service can be utilized for a wide range of use circumstances corresponding to Know Your Buyer (KYC), academic credential verification, and on-line fame. It additionally facilitates funds for digital credentials in full compliance with all relevant laws.
Avishay Litani could be reached at avishay@marketacross.com for any additional inquiries or interview requests.
