cheqd Launches Creds Creator Studio To Enable The Creation Of Verifiable Credentials

cheqd, the startup that enables users and organizations to gain control and portability of their data, announced earlier this week that its Creds Creator Studio is now available to users.

The company announced this at the 2023 Web Summit in Lisbon. Kicking off with an initial six launch partners, Creds Creator Studio enables companies to create Verifiable Credentials that build community trust and security and supercharge their marketing activities. Users can leverage Creds’ no-code platform before monetizing those Credentials via cheqd’s payments infrastructure. 

Creds offers a comprehensive vertical suite that not only facilitates the creation of trust but also provides opportunities to monetize it.

The team revealed that building and issuing Credentials through Creds’ user-friendly interface is incredibly straightforward and easy. Organizations simply need to tailor the credential's information and it will be available almost instantly. From logging in to completion typically takes less than two minutes.

The solution is integrated with cheqd’s Credential Payments feature, allowing entities and users to exchange and transact creds. Creds also paves the way for organizations to create new business models within their communities and give users a way to monetize their reputation.

Verifiable Credentials: Building Communities, Reputations & Trust

One of the most important benefits of Creds is that it offers the first opportunity for reputation data to be seamlessly ported, combined and shared across various communities and platforms. This fosters more interconnected, versatile and trusted ecosystems.

Companies can issue Verifiable Credentials with Creds to create a unique reputation and trust system as well as loyalty programs for their communities that’s completely secure, portable and private.

Individuals can leverage Creds as their verifiers of status or serve as their public profile. Thus, providing a way for users (individuals and organizations) to verify they are who they say they are and prove ownership of handles, wallets, roles, skills, and reputations within and beyond their communities.

At the moment, Creds launches with an initial six partners in a bid to showcase the multitude of Web3 use cases that are uniquely enabled by Creds. Here are the six partners and how they will use Creds.

• Outlier Ventures, the leading Web3 accelerator with a portfolio of Web3 companies from across the globe including cheqd, will make Creds available to its alumni and founders, enabling them and their projects to be quickly verified as part of its ecosystem. 

• This ensures that Creds will aid Outlier Ventures in creating more trust in its portfolio companies and enable them to build stronger relationships with their partners and suppliers.

• Another platform that is leveraging Creds is Injective, the Layer-1 blockchain shaping the future of decentralized finance. Injective will leverage Creds to enable its community to aggregate its reputations across the numerous quest platforms it’s actively engaged with. Creds will help Injective identify its most active ambassadors and superfans by providing them with greater incentives and rewards, growing its community more rapidly and strengthening the reputation of its biggest fans. 

• Secret Network is also one of the initial six partners. The platform is integrating Creds into its ambassador program, allowing for the monitoring and rewarding of community members as they progress through their learning journeys. The introduction of Creds is intended to expedite the Secret Agent program by providing Secret Agents with a “gamified” tool to monitor their progress, grow their reputation, and unlock even greater rewards.

• The fourth partner is Regen Network, which is building a platform to originate and invest in high-integrity carbon and biodiversity credits from ecological regeneration projects. It intends to use Creds so developers can certify that the ecological credits they offer are verifiably nature-positive and sequester carbon. Creds will help to ensure greater trust in Regen Network’s marketplace, reassuring organizations that they’re able to meet their climate commitments by acquiring carbon credits which are guaranteed to restore biodiversity and reverse the effects of climate change. 

• RescuePals, the NFT-based 2D RPG game that aims to incentivize and tokenize animal welfare, is the fifth partner. The platform will start issuing Creds to players to certify their gaming achievements and verify their participation in community events. With RescuePals, in-game characters and items are digital twin copies of real-world animal rescues, represented by unique NFTs. Each NFT will be verified by Creds in order to certify they represent a tangible donation towards animal welfare. Furthermore, RescuePals plans on using certain Creds to create governance permissions where users can shape future real-world impact campaigns and game expansions.

• Finally, Kleomedes DAO is looking at ways to facilitate gamification within its community and gate governance using Creds. The platform aims to support multiple blockchains that create value and build innovative products for the community. Creds will provide the backbone of an innovative reward system funded by validator profits that seek to incentivize the Cosmos community to act as delegators and participate in its ongoing governance, promotion and development. 

With Creds, cheqd is fostering the creation of the Trusted Data Markets needed to facilitate the widespread adoption of SSI. With Trusted Data Markets, cheqd provides a strong incentive for users to issue verifiable Credentials while motivating organizations to return the control of data to individuals. The focus of Creds is on enhancing community relations and promoting a culture of trust and integrity.

cheqd (cheqd.io) is a privacy-preserving payment and credential network that allows users and organisations to gain control and portability of their data. cheqd builds upon Decentralised Identity (DID), Self-Sovereign Identity (SSI), and Digital or Verifiable Credentials (VCs) with payment infrastructure to create Trusted Data markets as an entirely new industry category. 

cheqd also features a decentralised reputation platform (creds.xyz) to incentivise and engage Web3 communities through quest or learning credentials, as well as protect users from fraud and scamming across Discord, Telegram and beyond.