A few weeks ago, cheqd.io introduced their latest product named CREDS. CREDS are verifiable credentials, offering a secure, private, and reusable means to establish one's reputation and verify authenticity (distinguishing humans from AI). Unlike NFTs and SBTs, CREDS are both private and revocable, capable of being used across various platforms and ecosystems.
Following the official launch of CREDS at the NebulaSummit event, the product became available to the cheqd community. Since then, numerous community members have obtained their Community member CREDS, providing evidence of their affiliation with the cheqd Community. Additionally, a CRED was issued to those who participated in the recent AMA with Outlier Ventures.
CREDS is designed to enable users to link their social profiles to their CREDS accounts. This feature fosters transparency when sharing CRED claims, through the inclusion of a Social Cred along with the actual CRED to be shared. This combination is referred to as a CREDPACK. For instance, if someone wants to prove their status as an original member (OG) of a project to another Discord user, they can share their OG CRED from the project alongside their Discord profile CRED. This approach enhances the credibility of their claim.
However, CREDS offers more than just sharing capabilities. Given the evolving strategies of scammers, users can verify each CRED that comes their way by interacting with a bot. As stated earlier, CREDS is revocable, and as such, issuers can revoke a CRED when there is a need.
CREDS serves as a tool to combat scams and acknowledge community members for their contributions, with potential applications spanning various ecosystems.
Eager to know more? Check out
https://app.creds.xyz/home
For projects longing to adopt this use case for their community, you can reach out to cheqd via their telegram platform