The blockchain identity startup cheqd has announced the launch of its Creds Creator Studio offering, giving Web3 startups a quick and easy way to issue “verifiable credentials” to their community members so they can prove their qualifications and status.
Creds Creator Studio is a no-code platform that enables companies to quickly create and issue “Creds”, which are a novel decentralized identity token that can be used by individuals to prove they are who they say they are in a private and secure way. Each Cred is unique, and doesn’t reveal any personal information about the user.
cheqd argues that there’s a strong need for privacy-preserving self-sovereign identity technologies in a Web3 industry that is plagued by impersonation and fraud, leading to all kinds of deceptions and scams by bad actors. With its verifiable credentials, cheqd aims to foster greater trust in the industry. To do this, it’s also building a “trusted data economy” that it says is necessary to facilitate the wider adoption of self-sovereign identity technologies in the Web3 industry. Through this economy, cheqd says it will create incentives for people to use verifiable credentials, supported by a decentralized payment network that prioritizes privacy.
The Creds Creator Studio platform is therefore a key element of cheqd’s mission. Its user-interface is designed to be simple to use, allowing organizations to customize the information detailed in each credential and generate it in less than a couple of minutes. The integration with cheqd’s Credential Payments feature is another key capability, making it simple for companies and users to transact with their Creds.
The company says its Creds benefit organizations and individuals alike. Individuals will have a simple way to verify their status and qualifications, with their Creds serving as their public profile within a community. They allow users to prove their ownership of everything from their handles and digital wallets, to their community roles and skills. Organizations can use Creds as the foundation of a much stronger reputation and trust system, powering new business models and loyalty programs.
Even better, cheqd’s Creds are portable too, meaning they provide a way for reputation data to be ported and shared across communities. So a well-known ambassador of one project could start participating in a second community, and everyone there would immediately know the person’s status and reputation within the first community.
Perhaps the most impressive aspect of Creds is their versatility. The company said Creds Creator Studio is rolling out with no less than six launch partners, who’re using their Creds in very different ways. For instance, the venture capital firm Outlier Ventures says it will use the platform to issue verifiable identities to its founders and alumni, validating them as members of its ecosystem.. Meanwhile, the DeFi blockchain Injective will take advantage of the portability of Creds to offer verifiable credentials to community members that aggregate their reputations across different quest platforms. This will allow for the easy identification of its most important ambassadors and superfans, who can strengthen their reputations across platforms and earn greater recognition and rewards for the time and energy they devote to its community.
Secret Network will leverage Creds for a similar purpose, integrating them with its ambassador program so it can keep track of, and reward users who’re incentivized to complete gamified activities and assignments that increase their knowledge of its platform.
cheqd’s Creds will also be used to verify the ecological credits offered by Regen Network, a decentralized marketplace that sells high-integrity carbon and biodiversity credits offered by ecological regeneration projects. Meanwhile, the blockchain RPG game RescuePals will leverage Creds to verify that its NFT-based characters represent a tangible donation towards animal welfare in the real world. Finally, Kleomedes DAO said it’s planning to leverage Creds to power a rewards-based program that will incentivize the Cosmos blockchain community to become delegators and participate in areas such as development, governance and promotion.
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Source: https://www.analyticsinsight.net/with-cheqds-creds-creator-studio-web3-projects-have-an-easy-way-to-build-community-trust/