verifiable legal entity identifier - WebOfTrust/WOT-terms GitHub Wiki

Definition

Verifiable credentials are issued by authorized validation agents (QVIs) under the governance of GLEIF, who delegate tasks to these agents. They provide cryptographic proof that the information about a legal entity, as linked to its Legal Entity Identifier (LEI), is verifiably authentic, accurate, and up-to-date.

Explanation

The v in vLEI stands for “verifiable”, but what does that mean? In this case, "verifiable" comes from “Verifiable Credential”. A verifiable credential is just a collection of information with a mechanism that allows a computer to verify that the information has not been modified and that the information was originally stated to be correct by some third party (maybe a bank or the driving license authority). Often (almost always really), the information will include a link to the entity the information is about.

More information

Here at Rapidlei.