Verafide, a verifiable credentials technology provider for issuers, holders and verifiers of digital credentials and ID, has launched their platform on the SETL enterprise blockchain.
The open-source solution enables any community, network, or organisation to set up and maintain a digital credentials ecosystem, according to the official press release. Verafide offers a tool set to issue, hold, and verify digital credentials – a personal, secure digital certificate that proves a fact, a right or a qualification – combined with an integrated payment solution to allow organisations to commercialise their issuance.
Use cases include a variety of scenarios from KYC and legal documentation for financial services firms, to proof of identity or age, to digital credentials to evidence of vaccinations or professional qualifications.
The computer code Verafide developed to issue, present and verify the digital credentials has been open sourced in compliance with Government policy for public sector use. The SETL blockchain maintains issuer's identities and public keys as well as other information that allows verification of the digital certificates. Verafide is engineered by SETL and hosted on SETL’s enterprise blockchain technology.
Verafide's core functionality is open source. Verafide offers an open-source SDK for the developer community and is compliant with the global W3C Verifiable Credentials Standard. Its enterprise solution is delivered as SaaS and includes a ‘payment-for-credential’ functionality. The Verafide App can be downloaded from the iTunes and Google app stores.
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