Primary Source Equivalent

Velocity protocols and underlying tech enable verification processes that are on par with the accuracy and reliability of primary source methods. Credentials are immutable, digitally signed by the issuer, preventing any modification by third parties. This ensures the integrity of the issued credentials.

Credential metadata, including public keys as well as revocation registries are written by the issuer and recorded in the decentralized trust ledger. Subsequently, when individuals share their credentials with a relying party, the relying party agent accesses the trust ledger to retrieve the credential metadata. It then consults the revocation registry and conducts.

The agent follows a protocol that includes multi-dimensional credential checks, thoroughly assessing the disclosed credentials across five key dimensions: Tampering, Issuer Trust, Revocation, Expiry, and Credential-Holder Binding. This stringent verification process guarantees the credibility and dependability of the shared credentials. The cryptographic signature added by the issuer to the credential is used to attest that the Verifiable Credential has not been tampered with and that the credential was from a specific Issuer that is authorized to issue this specific credential on the Velocity ecosystem. The latter is achieved by having the credential’s public key listed in an on-chain metadata registry that is resolvable to a DID Document and can be used via a trust chain to a DID document and their Accreditation VC that shows that the organization is an Issuer on Velocity Network. Additionally, the Accreditation VC includes information on the kinds of credentials an issuer is accredited for and whether they are primary source or notary issuers for that sort of credential. All elements are checked by Network agents to ensure that Relying Parties can trust the data they are receiving from holders. Additionally, the Credentials contain a unique DID for the individual. This DID will only be included in the credential after proof of their ownership is presented by sharing a signed JWT as part of the disclosure step during the workflow for Issuing Exchanges.