VERA, a secure B2B messaging platform, has teamed up with decentralized identity infrastructure provider cheqd to incorporate verified digital identity into business communications.
VERA has announced in a press release that it has integrated cheqd’s decentralized identity stack, which includes Verifiable Credentials, AnonCreds, and DID-linked resources. This integration allows VERA users to authenticate counterparties in real-time, helping to mitigate risks in industries such as construction, procurement, and finance where fraud and timing are major concerns. It also enables quick onboarding of new suppliers, secure document sharing, and fraud-resistant invoicing, all within a single encrypted platform.
“cheqd’s infrastructure not only secures conversations but also enables us to verify the identity of participants in a scalable, privacy-respecting, and future-ready manner,” said Max Coleman, co-founder of VERA.
Fraser Edwards, CEO of cheqd, emphasized the importance of the problem VERA is addressing, stating:
“Every week, we receive fraudulent invoices via email. VERA’s solution ensures that every company and individual on the platform is verified. This is a significant advancement for global business communications.”
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VERA initiated a beta launch on June 1, targeting the South African market, with plans to fully launch an MVP by the end of August this year. The company aims to expand beyond South Africa to the US, UK, and EU markets, where trust-based digital interactions are becoming a fundamental requirement for compliance and operational efficiency.
Established in 2021 and leveraging blockchain technology, cheqd develops the technology that enables companies and individuals to create, share, and verify digital identities and credentials securely. It also offers a method for making privacy-protected data payments. Their system supports various digital ID standards, such as Europe’s eIDAS 2.0, and includes tools like Trust Registries that assist organizations in controlling who can access and use trusted data.
Additionally, cheqd’s decentralized identifiers and verifiable credentials play a crucial role in combating the rising threat of AI-generated deepfakes, which are increasingly utilized in online scams and impersonations.
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