Imagine being able to get rid of your driver's license, insurance card, student or work ID, and more from your wallet. Imagine not having to be concerned about losing your passport and immunization records while travelling abroad. The introduction of verifiable digital credentials makes this and much more possible.
Identity/Credentials have existed for a long time— possibly centuries. The idea of obtaining documentation that proves a qualification, competence or authority is not, by itself, a novel idea. In fact, it is these long established, deeply seeded practices we often think may not be transformed by the shifts in technology.
However, the digitization of credentials has the potential to have a significant impact on those routine daily tasks that we continue to perform without giving them much attention. In a nutshell, the age of digital credentials has arrived.
I've had a smart phone for years, and the internet has been around for decades. Why have I never heard of digital credentials before? These are probably some of the inquiries people have when they first learn about digital credentials. The truth is that, despite the fact that the internet and smartphones have advanced significantly over the past 20 years, the #Blockchain technology that enables verifiable digital credentials has only recently reached the necessary maturity level to meet the criteria for widespread application and adoption.
Using blockchain technology, ‘BIT WEB3 APPLICATION' gains permission ability, immutability, and verifiability. When necessary, the holder can physically or digitally submit information with a credential to a verifier who needs to confirm that the credential belongs to the holder. The difficulty of managing several physical papers is eliminated, fraud risk is reduced, and holders can choose to communicate only the information they need with the asking verifier. A secure and reliable issuer-holder-verifier transaction pattern has countless applications and will have a favorable effect on every business.
So we see, #Blockchain came out as one of the major revolutionizing technology, and with it came some great use case, applications and advancements. Beyond Imagination Technologies works around creating solutions to your problems and SOPs through blockchain technology.