What are Verifiable Credentials

Proofeasy26 Apr, 2024Technology

With global data flowing between endless SaaS apps and APIs, online security has become something of an oxymoron. Data laws such as GDPR and California’s CCPA are catching up, and forcing online providers–which is almost everyone these days–to take data security seriously. Complying with GDPR costs the average business between $100,000-$500,000, an untenable expense for many of the small businesses that are the engine of the US economy, or those who run on thin margins. Verifiable credentials and DIDs, because they scale easily, are a much more cost-effective solution.