1/ Introducing Verite, an open-source framework for decentralized identity. 🧵👇hubs.li/Q014mQgy0
2/ The Problem
Participating in #DeFi is a challenge for institutions and other entities who need to ensure they’re transacting with counterparties they can trust.
Participating in #DeFi is a challenge for institutions and other entities who need to ensure they’re transacting with counterparties they can trust.
3/ The Solution
Verite is a set of composable identity standards that enables #Web3 developers to create portable, privacy-preserving credentials for KYC, credit scoring, accreditation and more.
Verite is a set of composable identity standards that enables #Web3 developers to create portable, privacy-preserving credentials for KYC, credit scoring, accreditation and more.
4/ How it works
Verite credentials are cryptographic badges that can prove identity claims for users traversing Web3, without exposing personal data. Credentials are stored securely in a #cryptowallet, just like digital assets.
Verite credentials are cryptographic badges that can prove identity claims for users traversing Web3, without exposing personal data. Credentials are stored securely in a #cryptowallet, just like digital assets.
5/ Benefits for the Web3 ecosystem
Web apps, mobile apps and #smartcontracts get the benefit of identity-verified participants from the simple check of a Verite credential. Zero personally identifiable information (PII) is sent or stored on-chain.
Web apps, mobile apps and #smartcontracts get the benefit of identity-verified participants from the simple check of a Verite credential. Zero personally identifiable information (PII) is sent or stored on-chain.
6/ Improved capital efficiency
Credit score credentials can enable more precise matching of a borrower's reputation, resulting in lower collateral requirements.
Credit score credentials can enable more precise matching of a borrower's reputation, resulting in lower collateral requirements.
7/ Customizable trading pools
DeFi protocols can provide access to securities trading in permissioned pools based on accredited investor status, or any specified attribute.
DeFi protocols can provide access to securities trading in permissioned pools based on accredited investor status, or any specified attribute.
8/ Global financial inclusion
Verite credentials empower individuals and entities who lack traditional forms of identification to participate in the #crypto economy in a safe and secure manner.
Verite credentials empower individuals and entities who lack traditional forms of identification to participate in the #crypto economy in a safe and secure manner.
9/ Verite pairs well with USDC
Verite-enabled DeFi projects can tap into over $52B in USDC liquidity across 8 blockchains. $USDC is a dollar-pegged stablecoin widely used for payments, trading and value-exchange.
Verite-enabled DeFi projects can tap into over $52B in USDC liquidity across 8 blockchains. $USDC is a dollar-pegged stablecoin widely used for payments, trading and value-exchange.
10/ Established by industry leaders
Verite was developed by @centre_io consortium in collaboration with Circle and alongside trusted industry leaders like @coinbase and @Blocks. As an open-source framework, anyone is free to build on Verite.
Verite was developed by @centre_io consortium in collaboration with Circle and alongside trusted industry leaders like @coinbase and @Blocks. As an open-source framework, anyone is free to build on Verite.
11/ A new era of DeFi
Circle is building on Verite to become an issuer and verifier of #KYC credentials, enabling individuals and institutions to participate in DeFi with counterparties they can trust. A new era of DeFi is fast approaching.
Circle is building on Verite to become an issuer and verifier of #KYC credentials, enabling individuals and institutions to participate in DeFi with counterparties they can trust. A new era of DeFi is fast approaching.
12/ Comprehensive ecosystem support
A wide range of leading blockchain pioneers are embracing Verite, including: @Algorand, @compoundfinance, @ConsenSys, Espresso Systems, @hedera, @Ledger, @MMInstitutional, @Phantom, @Solana, and @SpruceID—with more on the way.
A wide range of leading blockchain pioneers are embracing Verite, including: @Algorand, @compoundfinance, @ConsenSys, Espresso Systems, @hedera, @Ledger, @MMInstitutional, @Phantom, @Solana, and @SpruceID—with more on the way.
Jump into the GitHub repo
Start building on Verite today and begin incorporating decentralized identity into your project. end 🧵
github.com/centrehq/verite
Start building on Verite today and begin incorporating decentralized identity into your project. end 🧵
github.com/centrehq/verite
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