Traditional paper and digital certificates can be easily altered, duplicated, faked, or deleted by a bad actor. Moreover, usually all the employees of an organization have access to the document. But these certificates are difficult to verify and require a lot of time and effort if someone decides to go ahead with the process. This is where verifiable credentials come in. These digitally verifiable certificates make it easy to certify documents and provide protection against document fraud.
But how are these documents beneficial for organizations? Let’s find out.
Benefits of Efficient Digital Verification for Organizations
Verifiable digital credentials are cryptographically issued digital certificates that are usually hosted on blockchain. They are instantly verifiable by machines, tamper-proof, and employ privacy-enhancing security measures.
They are superior to online certificates and paper versions since they promote digital asset management and are instantly verifiable by organizations that need to check a presented credential’s authenticity, such as employers or the government.
They benefit organizations in the following ways:
1. Can be verified within seconds
Verifiable digital credentials are easy to authenticate and can be verified within seconds on the blockchain network. They drastically reduce the time taken by organizations to verify someone’s credentials.
For instance, if a verifiable digital credential’s holder presents their certificate to an employer, the employer (or verifier) can verify their credentials within seconds. This saves them time and effort and ensures that organizations hire deserving candidates.
Moreover, organizations can fill empty roles quickly without having to rush the authentication process, bypass it, or contact the issuing authority to verify its authenticity.
Verifiable digital credentials are not just easy to authenticate, they are also painless to generate. This ensures that organizations can issue credentials for their employees at a fraction of the cost and not worry about fake credentials or bad actors breaking into their system.
3. Builds trust
Digital credentials help organizations win over their customers and clients since they believe that security is paramount to the organization and, as such, their data is safe.
It also helps build employee trust as they enjoy the security of the issued digital credentials, which they own and control.
4. Automated generation
If organizations integrate ProofEasy’s customizable digital credential solution with their existing API layer, they can generate verifiable credentials in bulk without having to overhaul their system or spending a ton of money.
All they would have to do is upload a supported file containing all the details for the fields they would like to customize for each credential they issue and ProofEasy’s intuitive software will take care of the rest. For instance, if an educational institution would like to issue graduation certificates for its students, it can do so by sharing a system supported file containing data, such as the student’s name, grade, etc., and ProofEasy will automatically generate the credentials and secure them on the blockchain.
5. Hassle-free sharing
Verifiable digital credentials can be shared with anyone instantly. Better yet, you can revoke the access of individuals or organizations you don’t want accessing the credential anymore.