We propose a general unified model for verifying data which uses the latest techniques for sharing verifiable credentials in a general-purpose network business model.
It isn’t about “identity”, it’s about the data
There is no such thing as identity theft. Identity crime is actually about the copying and replay of data. This problem can’t be solved with more “identity” but only with better data.
Parties online need reassurance not only that the identifying data being presented to them is correct and authentic, but that it is presented by the correct person, or under the control of the correct agent.
Digital wallets are powerful data containers, and can present cryptographically secured credentials, but they’re incomplete.
A wallet without a scheme — that is, a system of rules managing the entire data story to provide verifiable credentials — is just a container of empty promises.
We propose a network business model to share verifiable data.
The model we’re developing, the Data Verification Platform, introduces a new kind of player, a data distributor, which brings together the sources of the data, which we call the data origins, with the risk owners which rely on the quality of that data, enabling a two-sided market for data sharing.
The entire scheme is overseen by the DVP operating organization, building consumer trust through globally recognised branding.
The needs of the risk owner drive the DVP model. Risk owners select the credentials they need, the DVP gathers subject’s permission, and the data distributor gathers and returns the credentials under standard contractual agreements.
The DVP is the key to getting meaningful verifiable credentials, real facts, into and out of wallets and making those facts accessible to a potentially global market of risk owners.
Follow the evolution
If you’d like to follow the development of the Data Verification Platform model, please subscribe for email updates.
We’ve published Data Verification Platform in a Nutshell (PDF) and the executive summary (PDF) as appetisers. We’ve also highlighted some relevant blog posts, and more detailed documents will follow very soon.