Issuing, verifying, and exchanging verifiable credentials is set to change, with electronic credentials replacing paper documents.
This development is poised to hit the Slovenian market with a new solution that enables easy issuance and reliable verification of the origin and integrity of different documents, certificates and diplomas. “Our solution provides a secure and simple tool for organizations to issue and verify credentials from one location,” stated Miha Poberaj, Director of Rekono, a company that worked with Netis to develop the solution.
Rekono and Netis demonstrated the capabilities of the Rekono VC last fall in collaboration with the Blockchain Lab of the University of Maribor and Slovenian Railways at the ZEIDES conference on e-identification and e-services. They showcased the digital enrollment process at a university, whereby a student receives a confirmation of enrollment on their mobile wallet. The document is then forwarded to Slovenian Railways, which validates the student’s status in real time and approves the purchase of a subsidized ticket based on the verification. According to Sebastjan Pirih, the head of marketing and business development at Netis, this digitization of the enrollment process significantly reduces waiting times and appeals to the younger generation.
Applicable for Verifying All Types of Documents
Verifying different documents is necessary when asserting or demanding specific rights. These include certificates, diplomas, certificates, and other documents issued by various authorities and institutions, commonly known as verifiable credentials. These documents are now published on paper with a unique graphic design and data confirming their authenticity. However, the process becomes complicated when submitting these credentials to other institutions. To verify an employee’s diploma, for instance, an employer must contact the faculty that issued it. Banks also ask for employment certification and payment ability when processing loans.
Pirih used buying tickets for concerts and matches as an example of everyday tasks that require verification. “Event organizers verify the validity of the submitted ticket, but they cannot determine if the ticket was stolen, counterfeited, resold, or who the true owner is.“
A Versatile Solution
The digitalization of paper credentials shortens waiting times and reduces the chances of personal data counterfeiting and abuse. The EU loses as much as one billion euros annually to personal data abuse, which emphasizes the significance of a solution like Rekono VC, which is easy to incorporate into existing systems, services, or solutions and provides high reliability and trustworthiness in issuing and verifying electronic credentials.
Rekono and Netis intend to offer their infrastructure to various organizations, businesses, and public administrations. The versatile solution is suitable for implementing procedures that reduce the risk of personal data abuse, accelerate processes, and increase security when sharing and exchanging sensitive data online.
A High Level of Trust
The Rekono VC provides a High Level of Assurance (High LoA) verifiable credentials infrastructure by offering a reliable method of verifying the identity of all actors involved in issuing and using verifiable credentials: individuals, issuers, and verifiers. The standardized solution makes it easy for providers and users to integrate the issuance and use of verifiable credentials into their information systems, solutions, or services. The solution’s incorporation of the latest technology in digital wallets and verifiable credentials ensures it meets all the regulatory requirements in trusted e-services.
Rekono provides strong authentication services and qualified trust services. In contrast, Netis operates in secure data exchange, verifiable credentials, and blockchain technology, and their experts are also among the core architects of the European blockchain infrastructure (EBSI).