back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

Verafide launches UK’s first open-source solution for verifiable credentials

By Joy Dumasia

July 13, 2021

Share

Verafide, a verifiable credentials technology provider for issuers, holders and verifiers of digital credentials and ID, announced the launch of 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.

Verafide offers a comprehensive toolset 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 various KYC and legal documentation scenarios for financial services firms, proof of identity or age, digital credentials, and evidence of vaccinations or professional qualifications.

Verafide aims to bring digital identity and verified credentials into one digital wallet, putting the owner in complete control of what happens with their personal information.

Portable certificates can be passed between the holder and verifier like a digital passport, without the need to share details of interactions or transactions with the original ‘issuer’ of IDs, so personal information remains protected.

Joshua Daniel, Chief Engineer, Verafide, said: “Last summer we won a competition launched by Innovate UK, the UK’s innovation agency, and were awarded funding to realise our ambition to solve the issues around existing verifiable credentials data. Since then, we have been working tirelessly to build digital trust and resolve the inefficiencies in how credentials are created, shared and verified. We aim to work with natural trust infrastructures where issuers and holders of credentials will benefit from digitisation.”

Previous Article

July 13, 2021

7 payment problems ACH Payments solve for businesses

Read More
Next Article

July 13, 2021

SmartStream partners with Acadia to enhance its TML customer services

Read More










IBSi Daily News Analysis

The Weekly Wrap

August 19, 2022

The Weekly Wrap: all you need to know by Friday COB | August 19th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

August 18, 2022

Ohpen partners with ezbob to offer a complete suite of lending products to the UK market

Read More

August 18, 2022

Bank of Queensland goes live on Temenos Banking Cloud

Read More

August 18, 2022

5 FinTech deals that took place in Asia in July 2022

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
IBS Intelligence - Global Digital Banking Vendor & Landscape Report Q2 2022
Global Digital Banking Vendor & Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Treasury & Capital Markets Systems Report Q2 2022
Treasury and Capital Markets Systems Report 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022