Verifiable professional credentials; proof of concept complete
Digital versions of an individual's academic achievement, professional qualifications and compliance are to get easier to manage and verify, following the successful completion of a blockchain-identity proof of concept.
A proof of concept completed by Dock and Credenxia shows how employees will be able to store verifiable licenses and qualifications, such as those issued by a University or awarding body, in their mobile device's digital wallet, aiming to give individuals greater control over their identity and managing their credentials.
Checking certifications and qualifications is a tedious process for employers, adds weeks to the recruitment process, slows down mobility and causes work delays. Having verifiable credentials stored on mobile devices is a logical step. There are use cases in education for degrees and academic certification and in workplace learning for compliance, continuing professional development and skills certification. Wider use cases, outside of education and learning, are vast, for example licenses and certification on a much broader front.
Digital certificates are stored on an individual's digital wallet that can reside on a mobile device. If the accreditation requires a time stamp on how long it is valid for, the verifiable credential can be time stamped, anchoring them to the Dock blockchain. These credentials can be digitally presented to a third party for instant verification. Users receive the certifications and identity from the issuing body, i.e. qualifications from educational organisations, they own it and use it entirely on their own free will.
The PoC shows how the solution avoids any risk of abuse or hacking and it offers the assurance as to who issued the credential and who it belongs to, guaranteeing its legitimacy.
Dock CEO Nick Lambert said of the collaboration: “Credenxia’s use of verifiable credentials is a great use case and we’re excited to support them in bringing this product to the market. Credenxia are getting in on the ground floor with this technology which will significantly reduce verification times and costs for their customers”.
Credenxia CEO Terry Jones said of the collaboration, “We are very pleased to have completed the Proof of Concept with Dock. It is a key strategic imperative for Credenxia to offer existing and new clients a decentralised option that maintains highest levels individual data privacy and integrity.”
The blockchain identity market is currently in its infancy, worth around $250 million pa, yet is forecast for exponential growth.
More information on the partnership between Dock and Credenxia is available from Kiran Padam, [email protected].