Thread by @tonymo0ntany

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Alot of people dont know about VCO's and how HUGE this is for #KILT

One way #KILT will lure corporate and government entities onto their blockchain is by making use of

Verifiable Credential Organisations (VCO's)

What are VCO's & why are they important?

Thread 👇

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A VCO, formerly known as Token Curated Attester (TCA);

Enables Attesters to run their business completely on the #KILT blockchain

Attesters could be corporate and governement entities/departments

As @ingoruebe stated earlier, this will be a gamechanger in CT

The tech 👇

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VCO's are #KILTs version of Token Curated Registries (TCRs) which;

"Were conceptualised as decentrally managed lists with intrinsic economic incentives that,

through the wisdom of the crowd (bottom-up), provide truthful information that CANNOT directly be verified."

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The problem with current TCR's is the fact that in a TCR, investors curate the candidates and act as experts

In the real world the role of curator and expert are seperated

Example: A publishing house (curator) will hire a journalist (expert) to write the news stories

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#KILT will bring this concept onto their blockchain and dubbed it 'Bottom-up Trust'

Kilt proposes a concept where Claimers can state attributes about themselves, e.g. ‘I am fair-trade chocolate’.

Attesters can verify and issue revocable credentials

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The claimer can then keep the revocable credentials themselves and can show it to any verifier they choose

When a verifier trusts the attester, the verifier automaticaly trusts the credentials of the claimer, untill revoked by the attester

Classic #KILT

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In many use cases, the Attester already enjoys public trust

Attesters can be companies, government, people etc.

#KILT calls this “Top-Down Trust” and its the basic concept the protocol was build on

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TCA's have the potential to enable companies running on top of #KILT

They would be fully transparant for investors and empoyees

WHILE BEING REGULATED AND TAXED BY GOVERNMENTS LIKE TRADITIONAL COMPANIES

This is SUPER bullish for corporate and government adoption

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When I found out about this part, all pieces fell into place

I think we're going to see ALOT of adoption in the years to come

Companies could invest years and millions of dollars and not come close to a solution like this

The good thing for them:

#KILT = Plug & Play

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To top it off #KILT will build a 'TCR Factory' on top of their blockchain which can set up TCR's in a few simple steps

With @social_kyc, VCO's and Polimec launching in 2022, #KILT will open the gates for global adoption

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Full TCR article here 👇

Note that the article is 2 years old

Team confirmed the concept has evolved since then and things might have changed

medium.com/kilt-protocol/…