In What Ways Does Blockchain Technology Enhance Digital Credentials?

Impact of verifiable credentials on the internet

Blockchain digital credentials have become the gold standard in the world of online certificates. After all, verifiable credentials are secure, transparent, and trustless. That’s not all; there are other digital credential benefits, too. They do away with centralized authorities and make it easier for you to verify credentials. As such, a verifiable credential employs a trust triangle, including the issuer, holder, and verifier. But what is the role of blockchain here? In what ways does blockchain technology enhance digital credentials? Keep reading to find out.

4 Ways Blockchain Enhances Digital Credentials

You might be familiar with digital credential examples wherein a verifier can verify digital credentials instantly. This is thanks to blockchain technology. Blockchain credentialing is considered secure, transparent, and immutable due to the decentralized technology. Simply put, this decentralized technology is the underlying difference between digital credentials blockchain and regular digital certificates.

So, without further ado, let’s discuss the ways blockchain enhances digital credentials:

  • Certificates become immutable

When an issued digital certificate is stored on the blockchain, it becomes immutable. Wondering why? Well, a unique hash code is generated and stored against each document. So, when changes are made to the secured file, a new hash value is generated for the file. This alerts the issuers, holders, and verifiers of the modifications in the file. 

  • Certificates become less susceptible to data fraud

As we mentioned in the previous point, a unique hash value is generated for each document. This characteristic doesn’t just make the document immutable but also lends it security and makes it less likely to fall into the wrong hands. To elaborate, if a cyber criminal manages to hack into a blockchain network and steal important information, your PII (personally identifiable information) won’t be compromised since only the hash value is stored for the document. Your personal details remain yours.

Moreover, all the documents are encrypted to give them an extra layer of protection. So, even if a document falls into the wrong hands, it’d be impossible to decrypt unless the bad actor has access to the associated public key, rendering their hard work useless.

  • Certificate-related information is transparent

Blockchain ensures that certificate-related information is available to authorized parties so there’s no confusion and everyone’s on the same page, Moreover, certain blockchain-based platforms, like ProofEasy, offer document history to all authorized individuals so they can track a document’s journey from its issuance till it came into their hands. This perpetuates trust among members and helps them gauge if a document has been altered or not.

  • Certificates can be verified quickly

Besides the security and immutability, verifiable credential’s biggest draw is how easy they’re to verify since all information is instantly authenticated on a blockchain network. Sounds like a hassle? Platforms, like ProofEasy, attach patented QR codes to each document (issuers get to define the positioning). This simple move helps verifiers just scan the unique QR code to verify a digital certificate’s authenticity.

Want to get started on your verifiable credentials journey? Sign up on ProofEasy today!