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Verifiable Credentials are the future of identity documents, academic achievements, licenses, employment, associations and more. They are digital and cryptographically secured versions of both paper based and digital credentials that can be presented across the ecosystem as a proof.
Verifiable credentials enable the organizations to instantly verify the authenticity of any credential presented to them. This eliminates the need for manual verification processes which can be time consuming and prone to errors. Verifiable credentials also make it easier for the individuals to prove their identity or qualifications etc. in a secure manner without having to provide physical documents or sensitive personal data.
Verifiable Credentials serve as a robust “instrument of trust”, & are independently verifiable (both via online & offline methods) along with supplemental capabilities like multi-lingual extensions & multimodal outputs i.e., both, paper & digital forms - thus cutting through the digital divide.
A recent example for verifiable credential is Covid 19 vaccination certificate.