Circle collaborates with multiple projects to complete the first proof of concept for Verite decentralized digital identity credentials

2022-10-05 20:58:29

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According to Chain Catcher news and reported by PR Newswire, Circle has partnered with projects like MetaMask and Archblock to establish the first proof of concept for "Know Your Business" (KYB) verification using Verite for decentralized digital identity credentials.

Verite credentials are portable, interoperable, and easy to store in crypto wallets, while avoiding the sharing of personal identity information. Users have complete control over whether to accept the credentials and when and how to access their identification proof. Additionally, the same credentials can make it easier for protocols to prevent bad actors in the network and ensure community integrity by providing KYB certificates.

It is reported that Circle plans to issue KYB certificates for free to its customers and licensed institutions. Previously, in February 2022, Circle launched Verite as an open-source framework for the issuance, custody, and verification of decentralized identity credentials. (prnewswire)

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Circle Verite KYB

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