On April 3rd, Cardano launched Veridian, an open-source digital identity platform that puts individuals, not corporations, in control of their personal data. For a while now, there has been a growing concern surrounding data privacy in Europe. As a result, Veridian is here to provide a timely response, ensuring secure and decentralised identity solutions.
“Veridian gives individuals, not corporations, complete control over their digital identity.”
What is Veridian?
In Europe, internet users have become more conscious about who can access their data. GDPR is one driver among many recent breaches that make businesses face stronger demands for improved data protection practices. Veridian addresses the problem by granting complete digital identity control to its users.
The system operates under KERI (Key Event Receipt Infrastructure) and ACDC (Authentic Chained Data Container) credentials, allowing users to authenticate their identities without centralised intermediaries.
“With Veridian, nothing moves without your consent—every data-sharing choice is yours alone.”
You are responsible for every choice about sharing data and for selecting your sharing audience. Nothing will happen without your consent.
Built on Cardano: Extra Security Without Centralised Gatekeepers
Veridian is a standalone tool that operates while connected to Cardano’s Blockchain for enhanced trust functionality. At the same time, the platform functions independently but enables Cardano’s trust framework to ensure secure, decentralised credential verification.
The emphasis on openness and trust remains essential in Europe rather than mere advertising, as these principles represent European societal expectations. Through Veridian + Cardano, you can verify and secure identity proofing and service submissions without giving authority to outside parties.
The Veridian Wallet
Veridian Wallet is a mobile app that enables users to securely store digital IDs, credentials, and qualifications on a single secure platform. Your device retains complete control of all data, and you decide when and where to use it.
“The Veridian Wallet stores IDs, credentials, and qualifications in one secure place—your device.”
The solution operates across educational and employment sectors, healthcare services, etc. Users can streamline service delivery through a system that gives full control over how and when their credentials are shared.
Bringing Bitcoin into the Picture
The Veridian system is part of a broader organisational plan. In April last year, Cardano founder Charles Hoskinson made clear his intentions to unite Bitcoin with Cardano’s decentralised finance (DeFi) network.
“Charles Hoskinson’s vision is to merge Bitcoin with Cardano DeFi in just three years.”
Integrating Bitcoin with Cardano smart contracts will be possible through Hydra and Aiken programming languages, facilitating Bitcoin operations within the Cardano framework. The project represents a bold effort to develop financial products that eliminate traditional intermediaries for better user control. Hoskinson says adopting Bitcoin-based DeFi solutions through the Cardano Blockchain will take three years.
“Cardano’s plan to integrate Bitcoin into its DeFi network could redefine financial autonomy.”
What This Means for ADA
The forthcoming advancements in Cardano will directly affect the fundamental value of its native cryptocurrency, ADA. It has recently experienced strong fluctuations after its value fell 13% to €0.60 over the past few weeks. Based on future positive market trends, Analyst Jonathan Carter predicted ADA would reach €0.59 before rising again to around €1.
Typically, Cardano is still in its active development cycle. The organisation is constructing an open-source chain of decentralised products, including Veridian wallet and Bitcoin integration strategies. Controlling how you manage your identity and financial tools continues to be the primary objective of such systems, which seek to place control back into your hands.
“Open-source, user-controlled, and trust-focused—Veridian is Cardano’s response to Europe’s privacy crisis.”
Image Source: Adobe Stock
Disclaimer: This article is purely for informational purposes. It is not offered or intended to be used for legal, tax, investment or financial advice.
