Blockchains enable us to reduce identifier management costs through shared common infrastructure. Veres One is optimized for identity, which further reduces costs. As a result, network operating costs and fees are a fraction of those of general-purpose blockchains like Bitcoin and Ethereum.
Unlike many other blockchain networks, Veres One does not use a scarce network token. This removes price volatility and regulatory risks associated with speculative token networks. Veres One charges low, stable fees that decrease as the network scales.
Distributed systems enable competitors to cooperate on common infrastructure. These systems naturally resist centralization, surveillance, and censorship, which are threats to identity. Veres One utilizes decentralized technology and governance to protect your identifiers.
Blockchains store data in a way that is publicly auditable. Bank-grade cryptography further protects data by making it extremely tamper-resistant.
Privacy by design is a guiding principle of the Veres One blockchain. It minimizes the amount of data shared with third parties and allows people to determine what to share and with whom. Veres One is well-suited to address the European Union's General Data Protection Regulation (GDPR).
Veres One supports a wide spectrum of identity management use cases. Any person or organization may create and control their identifiers, aggregate personal data, and determine their data storage location and accessibility.
Veres One is designed to put people in control of their own identity information. Individuals can aggregate digital credentials about themselves from various parties and decide how to share them. Veres One gives people the independence to freely change services without losing their online identity.
Enterprises benefit from a cost-effective identity utility that is interoperable with anyone who uses Decentralized Identifiers. Authorized employees can seamlessly access restricted data without the need for usernames or passwords. Organizations gain the ability to create dynamic identity management rules with ease.
Veres One provides interoperable identity management infrastructure that enables citizens to connect with separate government services using the same digital credentials.
Governments can issue digital credentials such as driver’s licenses, passports, metro passes, food stamp vouchers, or voter IDs. Credentials are issued directly to citizens, enabling them to decide with whom the credentials are shared.
Veres One enables disparate entities across the healthcare system to exchange verifiable identity data. Physician licenses, digital prescriptions, and medical records are just a few examples of identity data that can be interoperably shared and verified.
Banks, credit unions, and other financial institutions benefit from stronger identity verification. Cost-effective, know-your-customer checks reduce fraud and ease regulatory compliance.
Over one billion people worldwide are unable to prove their identity. This restricts their access to financial services, education, and healthcare. Providing the underserved with Veres One identifiers helps service organizations coordinate aid.
With Veres One, every trade entity in a complex economy can be more strongly authenticated, reducing fraud, friction, and transit time across supply chains.
Decentralized social networks, peer-to-peer messaging apps, and sharing economy apps can benefit from Veres One features such as user centricity and data portability.
Accelerators provide a new revenue stream for businesses.
Accelerators enable customers to rapidly write to the Veres One blockchain while creating a new income stream for existing businesses.
Examples of Accelerators include registrars, governments, credential issuers, and digital wallet providers.
Anyone who accepts the Accelerator Agreement may become an Accelerator.
Get paid for participating in the Veres One network.
A large number of nodes run by a variety of entities is essential for the health and security of the network. Nodes are financially compensated by the Veres One Project for their contribution to the network.
As the system is permissionless, any person or organization may run a node.
Electors are expected to follow the guidelines in the Elector Agreement.
You can get a Veres One identifier in as little as three minutes.
Issuers associate credentials with your Veres One identifier. You can then store those credentials in your digital wallet. A verifier, such as a website, will then ask you for your credentials when you sign in.
You will collect credentials from a variety of Issuers and store them in your digital wallet. This puts you in control of your credentials. When and with whom you share your credentials is your choice.
You decide where you store your credentials - in the cloud, on your device, or both.