By ET Bureau - October 19, 2021 4 Mins Read
Preparing to move towards a decentralized solution for creating and managing employee credentials, Credenxia is working with Dock to build a Proof of Concept (PoC) application to create, issue, manage, and verify credentials instantly. This PoC is now complete!
Helping businesses around the world work smarter, better, and faster, Credenxia offer a digital platform that uses cloud and smart technology to verify employee identity and establish proof of qualifications. With a mission to simplify management of the workforce, Credenxia understood the need to provide alternatives to their existing centralized verification solutions.
The better solution? Verifiable credentials. These are digital versions of an individual’s identity documents, academic achievement, licenses and more. Verifiable credentials use cryptography, providing assurance as to who issued the credential and who it belongs to, as well as guaranteeing the legitimacy of it. Verifiable credentials sit in a digital wallet on the individual’s mobile device, giving users back control over their identity.
What are Verifiable Credentials and what makes it a better option?
These 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 organizations, they own it and use it entirely on their own free will.
It saves a workforce several days on the time it takes to issue and verify an individual’s identity and credentials. A university can take months to prepare, issue and print certificates and diplomas, and an employer would spend weeks verifying an employee’s identity and accreditations. With verifiable credentials, hundreds of certifications and identities can be legitimately issued and verified instantly, saving hours and days of tedious work.
In addition, verifiable credentials are tamper-proof and use cryptography to ensure that only the issuer can make changes to the credentials, and only the intended recipient can present the credentials in a verifiable way.
Dock’s work with Credenxia
To date, Credenxia has provided a centralized solution with verification through their cloud-based portal. Wanting to offer an alternative to their existing centralized solutions that provides the added benefits of using verifiable credentials with blockchain technology, Credenxia approached Dock to help them develop a Proof of Concept (PoC) application. The vision was to give back control over one’s credentials and identity and allow instant verification of credentials.
Using Dock’s API, Credenxia will also offer decentralized solutions, building an application where credentials are held by an individual and where all data held is correct and legitimate, using an identity verification service to verify details of individuals prior to registration.
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. Dock has led the way, by releasing the first public W3C credential verifier, which utilises the Verifiable Credentials Data Model (VCDM). Meeting the highest global standard in what will be a rapidly evolving digital compliance landscape is essential for our future growth roadmap. Following the PoC, I am confident that the Dock framework will support these objectives.”
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