Verite

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Frequently asked questions

How can Verite be used?

Verite can be used as a decentralized identity solution in the world of DeFi and Web3 commerce. It provides a set of standardized protocols for proving identity claims without exposing sensitive personal information. Users can request identity credentials from issuers, which are then easily stored in a crypto wallet. These credentials can be presented to verifiers, such as web apps, mobile apps, and smart contracts, to gain access to their services. Verite allows for portable identity control, where individuals and entities have direct control over how, when, and where their identity attributes are shared. It enables the creation of privacy-preserving solutions for KYC, credit scoring, accreditation, and more, empowering institutions to confidently access DeFi. Verite is decentralized and open-source, with no single entity having authority over its usage or development. It unlocks new possibilities in DeFi, such as access to permissioned pools or securities trading based on accredited investor status or other specified attributes.

Where are Verite credentials stored?

Verite credentials are stored securely in a crypto wallet, similar to digital assets. Individuals and entities have direct control over how, when, and where their identity attributes are shared. No personally identifiable data is sent or stored on-chain.

What can Verite credentials be used for?

Verite credentials can be used for various purposes such as KYC (Know Your Customer), credit scoring, accreditation, and more. These credentials allow institutions to confidently access decentralized finance (DeFi) platforms.

How can developers build on Verite?

Developers can build on Verite by utilizing its composable tooling for credential issuance, custody, and verification. They can create portable and privacy-preserving solutions for various use cases such as KYC, credit scoring, and accreditation.

What is the process of requesting Verite credentials?

The process of requesting Verite credentials involves users (individuals or entities) submitting a request for identity credentials to issuers. The issuers then provide the identity credentials back to the users, which can be easily stored in a user's crypto wallet, similar to digital assets. Users can then present these identity credentials to verifiers (such as web apps, mobile apps, or smart contracts) in order to gain access to their services.