How digital credentials will speed-up and increase the security of order processes

Whenever a corporate buyer wants to place an order with another’s companies eCommerce platform he needs to submit various documents proving that he is authorized to place the order online. Usually the checking and processing of such documents requires a couple of days.

Once authorized the seller company can provide the buyer a digital company ID as a verifiable credential attached to his Self-Sovereign Identity (SSI). The credential contains all the necessary attributes and purchasing authorizations as well as all relevant invoicing data.

Whenever the buyer now needs to place an order he presents the verifiable credential to the sellers online platform at the check-out.

During the check-out process, the sellers online platform automatically verifies the data of the presented verifiable credentials (in DID format) with any of CodeB’s nodes. This data can then be transferred directly to the internal IT for order processing.

Billing can be carried out directly with the European ZUGFeRD/XInvoice Standard while the settlement could be fully automated with CodeBs integrated token system.

Source: https://blog.codeb.io/how-digital-credentials-will-speed-up-and-increase-the-security-of-order-processes/