Krebit is a W3C Verifiable Credentials marketplace, where both users and attestators are rewarded.
Verified Credentials are attestations made by issuers on users' Claims and registered On-Chain in the Krebit Token ethereum smart contract.
For example, a user can claim a social network profile by posting the KRB address on the public bio (proof that the user has control over the identity) and ask for another member’s confirmation or ask to have a claim disputed via DAO vote approval.
After a user injects their claim information, they can request judgement from a verifier based on a fee that they are willing to pay.
Identity proofs are social and based on trust; It means you must get attestation from some of the previously accepted users, i.e. verifiers. These verifiers ask you to reproduce your claim via a P2P encrypted chat on Krebit dApp. After collecting enough trust in the form of KRB, the user is recognized as a valid and unique one.
There is a Minimum KRB balance to become a verifier/issuer. Only members with verified identities (as per a minimum balance of KRB to issue) can validate attestations. When a verifier provides judgement, they gain trust by performing proper due diligence and would presumably be replaced for issuing faulty judgments.
Flow of attestations:
User creates a claim record on IDX. The Claim will be saved in Ceramic’s IDX decentralized protocol, encrypted with the user’s DID identity.
User posts claim url to any market of attestators (i.e. krebit Deals)
An attestator is matched with some criteria (escrow cost/KRB balance)
User adds attestator as recipient of encrypted claim data
Attestator validates the data, signs the Verifiable Credential and sends attestation
User marks the market transaction as completed (Krebit Deal)
User receives and registers the attestation to the claims record in the Krebit-Token contract
Both User and Attestator are rewarded based on formula
An Attestation has the following minimum attributes:
Verifier/Issuer — responsible for assessing whether the claim is true or false.
Claim ID: the URL of a Claim specification on IPFS/Ceramic
Trust Level %: represents how much the Issuer believes that the claim from the subject is valid or true.
Stake KRB: is used to help discourage spamming of fake Verifiable Credentials and provide a mechanism whereby the creator can be punished for bad behaviour.
Both Claim and Attestations schemas will be available for any app to be able to read and update the user records.