Verifiable credentials can be issued by anyone, about anything, and can be presented to and verified by everyone.
Job, School, Sport & More
This document introduces Verifiable Credentials and gives an overview of the technical components involved in Verifiable Credentials exchanges.
Verification of documents and information remains challenging.
This is why LutinX is investing from 2018 in technology that can help everyone to easily verify data.
Paper documents are easy to be manipulated and difficult to be verified. The creation of a global blockchain service infrastructure is the solution to distinguish fraudulent pieces of information from real ones.
110 billion euros are said to
be laundered in the European
Union through the forging of
According to a report by the European Commission, last year, customs seized 17million items (e.g. counterfeits) at the borders of Europe for a total value of 740 million euros.
Illegal products and counterfeits
In the last years, Interpol has seen a sharp uptick in the number of missing passports —within Europe and around the globe. In Europe the amount reached 30 million in 2015 and +60 million in the world. The latest would be estimated to 89 million in 2020 (Interpol).
Stolen / lost documents
One in five labels in Europe would be false and therefore show a lack of compliance with European rules
Fake labels on food and bevarege
The LutinX Solution
In 2018 we fight a big dilemma “What is Blockchain without certified users?” To resolve this big problem we developed a native KYC – Know Your Customer – Platform, based on AI and Machine Learning technologies. Finally, we applied financial rules in the respect of the AML regulations, LutinX provides blockchain applications without the use of crypto-currencies.
To ensure our users about trust and security we are improving always more severe audits on our onboarding procedure following the International standards about Digital Identity.
At LutinX we believe that we can support People, Companies, and institutions in the new global challenges of the Global Economic Market.
Three KEY elements
2. Verifiable Credentials
3. Verifiable Data Network
The LutinX TRUST model
Verifiable Credentials allow you to validate information about people, organizations, and things. We will introduce Verifiable Credentials using an example where a student’s digital diploma is used to apply for a job.
Every Verifiable Credential is created by an issuer. An issuer is the organization or entity that asserts information about a subject to which a credential is issued. In our example, the University is the issuer who issues a credential to the student, the subject.
Verifiable Credentials contain attributes about the subjects to which they are issued. The student’s field of study, year of graduation, and grade point average are examples of simple attributes that might be included. When a subject receives their Verifiable Credentials, they become the holder for that credential which they store in their wallet – a mobile application on the student’s device.
When the student applies for a job, the employer requests access to view the student’s digital diploma. The employer is the verifier who will verify the information contained in the diploma before offering the student a job.
The holder of a verifiable credential sits at the center of a triangle of trust, mediating between issuer and verifier.
- The issuer trusts the holder
- The holder trusts the verifier
- The verifier trusts the issuer
Any role in the triangle can be played by a person, an institution, or an IoT device.
Note that because verifiable credentials can be created by anyone, the person or entity verifying the credential decides if they trust the entity that issued it. It is the reason why LutinX applied a BLUE VERIFIED LOGO near every Verified identity, in this way it will become easier trust who partecipate to a deal.
The LutinX Trust Model places the holder of a credential at the center of the identity ecosystem, giving individuals control of their identity attributes. Following the W3C standards, LutinX allows new potentiality.
The user holds cards and can present them to anyone at any time without informing or requiring the permission of the card issuer. Such a model is decentralized and gives much more autonomy and privacy to the participants. This model supports people and organizations from all over the world to share credentials and make business together.
LutinX do not tracks users activities, just offer a backbone where users can operate under a new level of trust issued by the Blockchain technology.
W3C Open Standard
Verifiable Credentials are based on an open standard developed in the W3C known as Verifiable Credentials. A Verifiable Credential that is represented as a JSON Web Token (JWT) has an expected structure like the one on the black box.
This standard makes it easy for credentials to be “portable” across organizational boundaries. A credential issued by a university can be verified by any employer, bank, or any other organization that accepts the Verifiable Credential standard. Similarly, an employer can accept diplomas from any university that issues credentials according to the standard. The Verifiable Credential standard facilitates an open ecosystem of credentials that can be easily verified by any interested party.
// JWT decoded for readability
“type”: [“VerifiableCredential”, “UniversityDegreeCredential”],
“name”: “Alex Johnson”,
“major”: “Mechanical Engineering”,
BND3LDTn9H7FQokEsUEi8jKwXhGvoN3JtRa51xrNDgXDb0cq1UTYB-rK4Ft9YVmR1NI_ZOF8oGc_7wAp 8PHbF2HaWodQIoOBxxT-4WNqAxft7ET6lkH-4S6Ux3rSGAmczMohEEf8eCeN-jC8WekdPl6zKZQj0YPB 1rx6X0-xlFBs7cl6Wt8rfBP_tZ9YgVWrQmUWypSioc0MUyiphmyEbLZagTyPlUyflGlEdqrZAv6e
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