How useful it is to issue digital certificates on the blockchain?

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Blockchain technology is used in several ways in varied industries for offering high-security managing distribution systems and recording valuable information. Blockchain records all transactions without any verification from third parties. An evolving issue in recent years is - counterfeiting certification. It is posing serious threats to people. Issuing paper-based certificates manually is prone to errors and time- consuming. Day by day, the number of people's data is increasing, so deploying a system for both issuing and verifying digital certificates based on blockchain technology can solve issues of forged documents.

What is the current problem with document certification?

Many organisations and businesses need original documents for verification purposes before further processing. Some valuable documents like (birth certificates) exist only once. Parties involved in verification and issuing other certificates may experience hesitancy to handle these sensitive documents and that can result in damage or even loss. Many parties are unable to protect the valuable physical pieces of paper with this process. Another big problem comes from data theft. Many people have reported it. So the question comes: how can this issue be solved? Creating digital proof or digital certificates certified or signed by respective institutions or authorised organisations can be beneficial. With blockchain-based digital certificates, you can access and verify the digital asset's authenticity without depending on any intermediary or third party. Traditional data records like paper files deteriorate over time. storing records like digital certificates on the blockchain can help in safeguarding sensitive credentials from destruction & damage. Blockchain document security methods can help users seamlessly secure their sensitive documents.

What about blockchain solutions?

Blockchain technology has brought a revolution in storing and sharing data. The mechanism of cryptography helps in keeping information fully secured. Blockchain offers a digital ledger or decentralised database of data. Centred on computer networks that approve updates before data get recorded and verified. It lessens the reliance and vulnerability of centralised data storage. Instead of handling physical pieces of documents, issuing and storing digital certificates in blockchain can be advantageous to users. You can efficiently utilise the benefits of blockchain, like - authentication, encryption and decentralisation. Every certificate consists of references of both issuer and receiver with a hash (a sign of document), that is stored in the public database. It is identical in the number of computers throughout the globe. These digital certificates with blockchain technology have vital additional advantages over any other certificates.

How does blockchain make digital certificates work?

When a digital certificate is issued, data gets digitised. A digital identity gets assigned to every certificate. All of the digital certificates are tagged as well as traceable. Original documents are stored safely in the computer networks in the blockchain which are known as nodes. In totality, blockchain makes digital certificates highly transparent and secured. It also makes it easy to unfurl any fraud because this technology can expose any forged or outdated certificates.

Are these digital certificates tamper-proof?

Yes, the digital certificates are tamper-proof not by just signing but right after the beginning of the transaction. A signing algorithm produces a signature that is encrypted through a private key. The digital signature in these certificates can never be forged without having access to the private key of the user or members. With the help of document security QR codes, users can secure their valuable credentials.

What are the potential benefits of issuing digital certificates on the blockchain?

Blockchain has evolved to be beneficial for the financial industry. This technology is the most talked about and sought-after technology used in the world. There are innumerable benefits of issuing digital certificates on the blockchain. Some of them are here: a) Require fewer resources for issuance: Issuance and maintenance of digital certificates on the blockchain require a very less number of resources. As a result, the whole process saves time, effort and human capital. b) Digital certificates are conveyable: Contrary to physical certificates, the digital ones issued on the blockchain need not be carried around every place. Digital certificates are there to exist for a lifetime. These certificates can be easily accessed on any of your devices from any part of the world. c) Ideal as Identity proof: Digital certificates based on blockchain are the best substitution for the traditional proofs of paper identification. Digital certificates are issued on a highly secured framework of blockchain which is fully secured. These verifiable certificates can be easily traced all the way back to an issuer. This method makes the procedure transparent. You can use the blockchain document security method for securing and storing your valuable documents. d) Gives overall data security: Paper certificates can also take days and months to get issued and dispatched. Paper certificates can be altered without issuing the institute's knowledge and that is risky. Digital certificates issued on the blockchain can not be altered by any person. If someone tries to tamper with it, then verification will fail. This makes data in your digital certificates fully secured as well as traceable. e) No third party requirement: Blockchain verification of digital certificates can be performed by any person having access to the network. There is no need for any third party interference for verification. Digital certificates can be verified even if any organisation that issued them no longer exists. f) For micro-credentialing: Every data remains encrypted in the digital certificates issued on the blockchain. Organisations or businesses can issue "micro-credentialing" for recognizing, career skills, learning and so on. It can help both students and organisations. g) Comes at an affordable cost: Using blockchain is not expensive. With the help of the blockchain-powered platform, you can issue digital certificates for numerous services with ease. You may need no extra software or hardware and be done with an internet connection. So in nutshell, the unique features of blockchain technology make issuing digital certificates easy and tamper-proof. Blockchain technology simplifies and facilities the entire process of issuance of digital certificates. It also helps in the easy transfer of these certificates leading to the expansion of contents and information. We hope in the next few years, more and more organisations will come forward in embracing digital certificates issuance on the blockchain. A blockchain document security system can help you to secure sensitive credentials with ease.

What is a Verifiable Credential Trust Triangle?

Posted on February 27, 2024

Verifiable credentials blockchain is one of the most trusted and secure digital certificates. They are based on blockchain and follow the data model guidelines issued by the World Wide Web Consortium (W3C). However, much information about this digital certificate is still unknown to the public at large. That’s why we’re simplifying a verifiable credential’s trust triangle today.

Diving Deep into a Verifiable Credential’s Trust Triangle

It’s common knowledge that a verifiable credential has three parties in play: issuer, holder, and verifier. The relationship between these parties forms the crux of the trust triangle.

To illustrate, a verifiable credential’s issuance process begins when an authorized issuer wants to certify a claim regarding the holder. The real-world examples are endless, including educational institutions issuing verifiable credentials for their trainees and graduates, government agencies issuing driving licenses and social security numbers, and organizations issuing employee batches.

Once the tamper-proof blockchain-based digital certificate is issued, the issuer shares it with the holder (the second party involved in a trust triangle) off-chain for privacy and security purposes. This is where an issuer’s involvement in a verifiable credential comes to an end (unless there’s an issue with the holder or verifier).

After the holder receives the certificate, they might check the certificate to ensure everything is in order and then save it in a digital wallet to keep it safe until required. For instance, a student might save their graduation certificate in a digital wallet until they need to present it to a potential employer, government agency, or another educational institution.

When a holder presents their graduation details to any third party, they might request the issued digital certificate to verify credentials. This process falls under the purview of a verifier. Continuing the example above, if a tech company is looking to hire IT graduates, it may ask them to share their verifiable credentials along with their application form for initial screening.

The three parties involved in the issuance, storage, and credential verification services form the endpoints of a triangle, giving way to a verifiable credential trust triangle. The issuer is the first endpoint, the holder the second, and the verifier the third. Since a verifiable credential is transparent and trustless, it fosters trust among the parties involved and eliminates fraud.

A verifiable credential’s trust triangle

The above picture should help you understand a verifiable credential’s trust triangle. This triangle is paramount in proving a verifiable credential’s authenticity.

Issue Verifiable Credentials With ProofEasy

ProofEasy is a blockchain and QR code technology that helps organizations issue verifiable credentials within seconds. This solution has been designed by the pioneers of blockchain who want to eradicate document fraud and help organizations protect sensitive data.

Simply put, you don’t need to understand the technology or be familiar with blockchain and the nodes involved or the definition of a UHV (unique hash value). All you need to do is sign up on ProofEasy to begin issuing verifiable credentials. You can even integrate ProofEasy’s customizable API with your existing IT infrastructure if you want to maintain everything in-house.