Velocity Network Foundation® Rolls Out Notary Issuer Accreditation Program
The Velocity Network Foundation® is taking another groundbreaking step to drive global adoption of verifiable career and education credentials by launching a Notary Issuer Accreditation Program.
Notary issuers are permitted to assert claims bout the individual, even when not being the primary source for these claims (i.e., the university in the case of a degree, the past employer in the case of past employment record, or the license issuer in the case of licenses.) The Notary Issuer verifies these records sing traditional methods that connect to the primary source and then issues the individual verifiable credentials attesting to these facts.
Notary issuers play a pivotal role within the Velocity Ecosystem, enabling the individual to claim their credentials in cases where the primary source is not yet able to issue verifiable credentials, short-circuiting the journey towards global adoption by enabling quicker ramp-up of the credentials on the Network.
As with Notaries in the physical world, the trust relying parties associate with attestations signed by the Notary is a factor of the trust they associate with the Notary themselves. To establish trust in Notary issuers across the network, all Notary Issuers undergo a rigorous vetting process by the Foundation to ensure the integrity and reliability of the entity and its processes and systems.
Following a long pilot in which only a handful of Notary Issuers were permissioned on the Network and were monitored closely, the Velocity Network Foundation is now officially launching Notary Issuer Accreditation Program, further bolstering trust and interoperability of verifiable career and education credentials on the Network.
“Notary Issuers play a crucial role within our ecosystem,” explains Dror Gurevich, Founder and CEO of the Velocity Network Foundation®. “They are a trusted bridge between the physical and digital worlds, enabling individuals to quickly ramp up a comprehensive, trusted digital career identity long before all the primary sources are onboarded to this utility layer underlying the global labour market. The monetization framework embedded in the Network enables such actors to build sustainable business models by acting as Notaries within the Velocity Ecosystem.”
The newly introduced Notary Issuer Accreditation Program is designed to assess each applicant thoroughly. The applicant must be an active member of the Foundation and maintain its membership for the accreditation to remain in effect. The Velocity Network Foundation also voted to accredit Schellman, a leading provider of attestation and compliance services, as the first audit Firm to conduct required notary issuer assessments under this accreditation program.
“Trust and verification are the lifeblood of any credentialing system. By conducting comprehensive audits and adhering to the highest standards, we’re helping to ensure that the Velocity Network™ can fulfill its promise of a trusted, blockchain-based career and education verification system,” says Scott Perry, Principal, Crypto & Digital Trust Services at Schellman.
To learn more about the Notary Issuer Accreditation Program and to apply, visit velocitynetwork.foundation.
About the Velocity Network Foundation®
The Velocity Network Foundation® is a non-profit membership organization, hosting a diverse range of labor market stakeholders across HR Tech, Education Tech, gig and freelance platforms, background providers, assessment processors, non-profit and multilateral organizations, employers, and educational institutions.
The Foundation governs the Velocity Network™, a free, publicly available utility built on open-source tech and protocols, which aims to empower individuals to have agency over their verifiable education and career information, replacing the outdated, fragmented way talent represents their career reputation across the labor market.
The Network and its protocols enable individuals to claim and stack career and education credentials, store them privately on digital wallets and share them with prospective employers and other relying parties, reducing the time and cost of hiring.
For additional information, please visit velocitynetwork.foundation.
About Schellman
Schellman stands as a leading global provider of attestation, compliance, and certification services. Operating under two distinct entities, Schellman & Company, LLC (a top 50 CPA firm) and Schellman Compliance, LLC (a globally accredited compliance assessment firm), the organization offers a comprehensive range of services. These encompass acting as a CPA firm, an ISO Certification Body, a PCI Qualified Security Assessor Company, a HITRUST assessor, a FedRAMP 3PAO, and being among the pioneering CMMC Authorized C3PAOs.
Renowned for its professionals’ expertise combined with practical experience, Schellman delivers superior client service while upholding steadfast independence. The company’s approach fosters successful, long-term relationships, enabling clients to achieve multiple compliance objectives through a single trusted third-party assessor. For further information about the services provided, please visit schellman.com.