Press Release

OASIS Enlists Key Players to Advance Secure and Interoperable Verifiable Credentials Standard

Hitachi, IBM, JFrog, NEC, and Others Lead Collaborative Effort to Strengthen the Digital Identity Ecosystem

Boston, MA – 12 July 2023 – Members of OASIS Open, the international open source and standards consortium, have formed the Lightweight Verifiable Credentials Schema and Process Technical Committee (LVCSP TC). The TC will focus on developing a lightweight, scalable, and interoperable schema, based on the W3C Verifiable Credential (VC) standard, that enables individuals and organizations to easily and securely share their verified credentials across various domains.

Online digital identity is becoming increasingly important; having a reliable way of verifying online digital identity is essential for secure online interactions. However, the current verifiable credential landscape is fragmented and it’s difficult for VCs issued by different issuers to be verified by different verifiers. It will be crucial to standardize a verified credential schema in order to overcome interoperability issues and create a more effective, dependable, and secure digital identity ecosystem. 

“This technology has the potential to revolutionize many industries, including finance, healthcare, and education, by enabling more efficient and secure processes for identity verification, credentialing, and access management,” said LVCSP TC co-chair, Spencer Yezo, of HYPR. “The interoperability of verifiable credentials across various platforms and systems promotes seamless integration and streamlines operations, fostering greater collaboration and trust between organizations.”

The target audience of the TC are technical experts, developers, industry leaders in the identity space, and anyone interested in building and implementing solutions that need VCs. Participation in the LVCSP TC is open to all through OASIS membership. 

Support for the LVCSP TC

“At Hitachi, we believe authentic identity is the bedrock of trust, security, and commerce in the modern world. It is also one of the hardest technology problems to solve. Hitachi is joining OASIS members to sponsor verifiable authentication of digital transactions so commerce can be as secure online as it is in person. Good identity makes good commerce. The Lightweight Verifiable Credential Schema and Process program is a giant step in the right direction.”
– Charlie Hart, senior analyst, security solutions at Hitachi America, Ltd., Research and Development Division

“NEC is pleased to be part of the LVCSP TC and continues to drive LVCSP adoption with industry partnerships to benefit customers. NEC believes that the VC schema and process defined by the TC are crucial to improving the efficiency and usability of various businesses with VC. We are excited about the formation of LVCSP TC and support its efforts through its contributions to and promotion of this global standard.”
– Shinichi Fuchigami, General Manager, Cyber Security Strategy Department at NEC Corporation

Additional Information
LVCSP TC Charter

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