Vera, Cheqd deliver trusted digital IDV platform for South African businesses

A partnership between B2B communications startup Vera and decentralized digital ID infrastructure provider Cheqd is bringing a trusted digital ID verification and authentication service for businesses in South Africa and elsewhere.

According to a joint announcement from the partners, the collaboration means integrating Vera’s encrypted digital messaging platform with Cheqd’s decentralized ID infrastructure “enabling instant, verified communication for companies in South Africa and globally.”

A pilot for the solution started on June 1, the partners say, ahead of a planned Minimum Viable Product (MVP) launch by the end of August.

The system is said to be essential for sectors requiring high levels of trust and time during transactions, and will also help in building the interoperability foundation for digital transactions with the EU, US, and UK. It will equally support Verifiable Credentials (VCs), AnonCreds, and DID-linked resources, according to the announcement.

Cofounder and CEO of Cheqd, Fraser Edwards, said given Vera’s ability to “solve genuine problems which affect ourselves and every company worldwide,” the new partnership “is a great step towards our mission where verified identity is seamlessly built into the fabric of how companies interact and collaborate.”

The Co-founder of Vera, Max Coleman, also commented following the signing of the partnership: “At Vera, we believe secure communication should also be verifiable. Cheqd’s infrastructure allows us to not only protect conversations, but to prove the identity of participants in a way that’s scalable, privacy-respecting, and future-ready.”

“Together, we’re building the foundations for a more trusted digital economy, starting in Africa, and scaling worldwide.”

With the new integrated platform, the partners believe there is a high possibility for businesses to “onboard new suppliers, exchange critical documents, and share fraud-resistant invoices, all while proving the legitimacy of their counterparties in real time.”

A Jupiter Research finding projects digital ID verification average cost will drop significantly between now and 2029 given the rapidly maturing and expanding nature of the ecosystem.

Article Topics

cheqd  |  decentralized ID  |  identity verification  |  South Africa  |  verifiable credentials