efficient data exchange
Verifiable Credentials are efficient
Using Verifiable Credentials for data exchange is very efficient because it enables Straight-Through-Processing (STP).
Tamperproof
Because of the cryptographic security the data in the Verifiable Credential (VC) can be automatically checked to be unchanged.
Labeled data
The data in a Verifiable Credential (VC) is labelled based on a data-schema. It can be read by other programs and mapped to the data in the backend systems.
Automated
This enables the data in a Verifiable Credential (VC) to be automatically verified and processed by the receiver.
Automated processing makes data exchange extremely efficient. On-boarding processes can take seconds instead of days or weeks. Processing data in supply-chains. All kinds of application processes. HR, Administration, etc.