We use credentials every day in the physical world. We have a driver’s license that proves we can drive a car, a passport that confirms our identity, a degree that proves we completed a course of education, and a medical insurance card that proves we have specific health care coverage. We store these in our wallets and present them when they need to be verified.
The problem is that this system doesn’t work too well in the digital world. As more of our lives migrate online, continually sharing our information with the people and companies we interact with can create significant privacy and security issues.
Identity Superpowers: Top 5 Reasons why Verifiable Credentials are Good for Consumers
Fortunately, a new standard has emerged which helps consumers protect and share their personal information. The standard is based on Verifiable Credentials, which are similar to the cards that we hold in our leather wallets, only they have incredible superpowers.
First, Verifiable Credentials are stored in a Dentity Wallet, which is highly secure and encrypted and offered to consumers at no-cost. You own it, and it can’t be lost or stolen.
Second, Verifiable Credentials are private, and you can choose what identity information you want to disclose. You are in control of the relationship with Verifiers, which means you know what data is shared, when you shared it, and you revoke access to your information at any time.
Third, Verifiable Credentials are portable and can be verified anywhere, at any time, even if the organization that issued you the credential doesn’t exist anymore.
Fourth, Verifiable Credential work in conjunction with the blockchain, which allows for a secure connection for data exchange between parties.
And fifth, Verifiable Credentials are a pathway towards owning your digital identity and making it an asset. The Big Tech and social media giants make billions off of our personal information. Using a Dentity Wallet and holding Verifiable Credentials is the first step in taking back control. Not only does it give you a new level of privacy and security, but it also allows you to turn your identity into an asset and finally get rewarded for sharing your personal information.
Getting started with Dentity is easy and no-cost. Sign-up today!