Privacy-Preserving Credential Monetization
Turn Digital ID verification into a revenue stream
Traditionally, issuing ID credentials has been a cost burden for issuers who make the investment to ensure credentials contain high-quality information. Additionally, businesses that currently charge for each access to their verified information can be hesitant to adopt reusable identity credentials.
But with Truvera, you can now charge for the verification of credentials that you issue, which will allow you to create new revenue streams and future-proof your identity business.
You can determine how much verifiers will pay to check the credentials in the ecosystem and leverage existing billing relationships to process payments. This makes it easy for issuers to generate revenue from credential issuance, enhancing the economic viability for all stakeholders within a Digital ID Ecosystem.
Whether you offer free or paid verifications, Truvera has the tools you need. Simple, efficient, and profitable.
Safeguarding User Privacy in Every Verification
At Dock Labs, privacy is our priority.
Truvera's Credential Monetization feature ensures that ecosystem administrators can track paid verifications but cannot identify which specific user or credential has been verified, preserving confidentiality and fostering a trust-rich environment.
Users must give explicit consent for each verification, maintaining their control over their digital identity.
How It Works
Truvera's technology uses KVAC (Keyed Verification Anonymous Credential) cryptography to ensure that credentials can only be verified by participants in your partner ecosystem.
Setting the Price
The ecosystem administrator sets a price for each credential schema and assigns each schema to participating issuers and verifiers.
Verification Process
When a verifier attempts to verify a credential, they are notified of the required fee. After checking if the verifier belongs to your partner ecosystem, Truvera’s service provides a secret specific to the credential schema to unlock the credential verification. This entire process is automated and takes a fraction of a second.
Privacy Protection
As part of their invoicing process, the ecosystem administrator sees that a credential from a specific issuer and based on a specific schema was shared with a verifier but learns nothing about the holder or the credential attributes. This preserves the user’s privacy.
Billing and Fees
Truvera tracks an anonymized record of all the verifications and provides detailed billing reports to ecosystem administrators. We charge a small percentage fee for each verification transaction based on the schema price.
