Let’s use an example for illustrative purposes. An Issuer can create a VC for their VIP customers. That Issuer can then create a discount on their website specifically for that VIP community. Only those who hold that credential in their wallet will be able to verify it digitally and pass through to the discounted offer. Now, let’s say another company enters the Dentity Network as a “Verifier.” They could begin to verify that same VIP customer credential on their website (if the Issuer allows it), which can act as a powerful customer acquisition tool for the Verifier.
In short, Verifiable Credentials are the new standard for sharing identity information online. VCs are a secure way to protect a consumer’s personal information, gives Issuers a new way to build loyalty and reward their customers, and allows Verifiers to tap into new customer segments, all using the Dentity Network.