Too Long; Didn't Read
Decentralized identifiers (DIDs) can digitize the verification process with less risk to security than a paper or plastic document. Identity theft increased 46.4% between 2018-19. Verifiable credentials move beyond the need for a central authority will a new era of online trust, efficacy and even privacy dawn. The average organization pays $8.19M per data breach in the US, the average business pays $100,000-$500,000 in compliance with GDPR laws.