Verif‑y Blockchain-based Powerful Identity for the Digital Economy
Verif‑y's identity solution addresses the notion that a strong and reliable digital identity is necessary in order for the global digital blockchain economies to continue their expansions. To meet this fast-growing identification demand, Verif‑y is expanding the development of the blockchain-based, digital identity solution layer of its commercially available credential and employment verification platform. Verif‑y's services improve the protection of Personally Identifiable Information ('PII'), which in today's world define our identity.
Verif‑y gives its users the power to own, manage and communicate their digital identities and verified credentials, and gives entities an interface and layer of trust to provide and request PII data. Importantly, with Verif‑y, all communication of PII is exclusively governed by the users, something not available until now.
Verif‑y brings value and efficiencies to all parties who participate in the ecosystem: educators, employers, credential providers, licensors, member organizations, certificate providers and lastly, but not least, the users.
Example of a Smart contract, dictating the terms of Token-Based transactions relating to the sharing of Verified Records
- A user selects record(s) they want to share from their profile.
- The smart contract oraclizes the share request through Verif‑y's secure, off-chain, API which sends the request to a web API.
- Verif‑y's platform provides a secure interface for the third-party recipient of the shared record(s) to submit a Verif‑y app-token payment prior to viewing such shared record(s).
- Following payment, the third-party securely accesses the shared record(s).
- The platform then notifies the user that the third-party has viewed the share, and a percentage of the cost of the service is forwarded to the user's token wallet. The contract is then closed.
Who uses Verif-y
Candidates with verified credentials have an advantage over other candidates relying on unverified resumes.
Traditional verification services are slow, taking weeks or even months to return results. Verif‑y provides timely, accurate results, enabling employers to reduce the costs and risks in verifying employment records, and track employee licenses and certifications, while alleviating the need to maintain past employment records for numerous years.
Colleges and Universities can be overloaded by diploma, transcript, and enrollment requests – consuming precious human and financial resources.
Governments are provided with the ability to accurately and rapidly credential potential employees and contractors in a cost-effective manner. In addition we enable governments to provide valuable services to their HR arms as well as to their current and past employees. Lastly, identity services will allow large scale efficiencies and improved services to citizens.
Members will be able to verify membership when attending events, while interacting with other members and when validating their memberships to relevant third parties.
Allow license holders to immediately and accurately validate their license standing to third parties such as employers, healthcare and regulatory organizations
Verif‑y Product History and Roadmap