Verite

Verite is an open-source framework for decentralized identity credentials launched in 2022 by the Centre Consortium in collaboration with Circle. The protocol implements W3C Decentralized Identifiers (DIDs) and Verifiable Credentials standards to enable privacy-preserving identity verification for Web3 and DeFi applications. Verite credentials are designed to be portable, stored in crypto wallets, and allow users to maintain control over their identity data without exposing sensitive personal information.

The technical implementation focuses on several key features:

• Privacy-preserving KYC/KYB verification
• Credential portability across different platforms and wallets
• Interoperable protocols for credential issuance, custody and verification
• Support for use cases including:
  • Accredited investor verification
  • Credit scoring
  • NFT provenance tracking
  • DAO governance verification

Notable adoption includes partnerships with major ecosystem players like Algorand, Coinbase, ConsenSys, MetaMask Institutional, and the Solana Foundation. In 2022, Circle and Archblock demonstrated the first proof-of-concept implementation using Verite for "know your business" (KYB) verification with MetaMask Institutional and Parallel Markets. The protocol remains open-source and free for any project to build upon, maintaining its commitment to decentralized identity infrastructure.