The World Economic Forum states that we are at the beginning of the Fourth Industrial Revolution. Technologies are converging and provide immense potential for shifting how we can improve every aspect of our lives. Underneath all of that technology lies the internet, which has a flaw that could have been fatal. Until recently, it has lacked a built-in digital identity.
CULedger announced last week its participation in the Trust over IP (ToIP) Foundation as a Founding Member, to enable trustworthy exchange and verification of credentials between any two parties on the Internet. CULedger will be collaborating with other leading organizations globally to define a digital trust infrastructure that includes both technical and policy interoperability of the MemberPass™ decentralized identity credentials beyond its current network. Click here to read the press release that was distributed by the Linux Foundation.
The purpose of the Trust over IP Foundation is to define a complete architecture for Internet-scale of digital trust that combines cryptographic trust at the machine level and human trust at the business, legal, and social layers. The Foundation’s approach is technology agnostic and recognizes that there will be other networks in play and they all will need to operate with one another. The new W3C (Worldwide Web Consortium, www.w3.org) Verifiable Credentials and Decentralized Identities (DID) standards will be used to leverage interoperable credentials as organizations and other verticals around the world are catching on quickly to identity approaches, like MemberPass™.
An essential component that makes verifiable credentials work in the MemberPass™ trust ecosystem is the Digital Trust Registry™. This registry provides credential integrity protection for verifiers of the credentials and can provide assurances that the credit union is a bonafide issuer of the MemberPass™ credentials. All it takes for credit unions to participate in the Digital Trust Registry is six pieces of credit union information and $2,500. CULedger does the rest in establishing the credit union in the digital trust network and accelerates your issuance of MemberPass™. Visit www.digitaltrustregistry.com and start today!
CULedger, a credit union service organization, offering MemberPass™, the simplest most secure solution to verify your members through leveraging contactless, privacy-enhancing technology to protect credit unions and their members from identity theft and fraud.