Verifiable Identity Credentials - W3C

Description

Via J.P. Morgan:

"Verifiable credentials (VCs) are a W3C data model for representing identity credentials (a.k.a. attestations or claims) that can be shared at the holder’s discretion. VCs are a set of claims made by one entity (the issuer) about another (the identity holder). A third party can verify these claims because the issuer has digitally signed the VC, proving its authenticity. Claims can range from the holder’s name, address and age, to qualifications they have obtained and their memberships in different organizations. It is important to note that these claims could be held in a person’s off-chain wallet; therefore, unlike with SBTs, these claims do not have to be publicly viewable. VCs are gaining traction in Europe, especially at a governmental level. European Blockchain Services Infrastructure (EBSI) is an initiative of the European commission which aims to leverage the benefits of blockchain technology for identity use cases. EBSI’s VC framework proposes a trust model relying on verifiable information, and also includes specifications for expressing, exchanging, and verifying credentials."

(https://www.jpmorgan.com/onyx/documents/Digital-identity-assessing-web3s-building-blocks.pdf)