What issues will Verifiable Credentials address?

Traditional verification processes, especially those reliant on physical documents and in-person checks, have several inherent problems and limitations, including

• Complex and time consuming

• Lengthy and cumbersome manual document verification

• Fake Certificates leading to data misuse, record manipulation, fraud, scams, identity theft, and other criminal activities.

• Lack of transparency

• Lack of integrated mechanism for verifiability and security

To resolve the aforementioned challenges, Verifiable Credentials play a crucial role and offer several benefits:

• Verifiable Credentials help in automation, reducing time, effort, and cost. The information that a physical credential contains can also be represented by a verifiable credential.

• Verifiable credentials are more tamper-evident and reliable than physical credentials.

• They can be issued quickly and can be instantly presented to the organizations for the verification.

• Verifiable Credentials are private, and users can always choose what attributes of their identity they want to disclose.

• These can be verified everywhere, anytime instantly.

These benefits contribute to a more efficient and secure verification process, alleviating the issues associated with traditional methods.