/biz/ - Business & Finance

>JPMorgan Wants to Bring Trillions of Dollars of Tokenized Assets to DeFi
>Another difference is the novel approach to permissioned DeFi done using digital identity building blocks, such as W3C verifiable credentials.
“We want to use verifiable credentials as a way of identifying and proving identity, which is different from the current Aave model, for instance,” Lobban said. “Verifiable credentials are interesting because they can introduce the scale that you need to provide access to these pools without necessarily having to maintain a white list of addresses. Since verifiable credentials are not held on-chain, you don’t have the same overhead involved with writing this kind of information to blockchain, paying for gas fees, etc.”

The World Wide Web Consortium (W3C) is an international organization committed to improving the web. It is made up of several hundred member organizations from a variety of IT related industries. W3C sets standards for the World Wide Web (WWW) to facilitate interoperability and cooperation among all web stakeholders.