Rules for issuing/revoking credentials

The following section describes the rules around the issuing and revoking of credentials. The decision to issue or revoke credentials will be taken by the TAO.

Issuing of Credentials

This section refers to the issuance of credentials in the first implementation phase for entity legal existence. The rules will be updated as new credentials are added.

TIs can issue verifiable credentials to entities requesting the credential who meet the following criteria:

1. Identity verification: The legal representatives and the co-founders have their identity confirmed through the KYC process.
2. Data accuracy and integrity: The data the entity has provided via the OnePass platform application form has been accurately validated through trusted sources e.g. government databases in the relevant countries.
3. The entity’s information has been verified by FundingBox through an SME check completed as a result of being a beneficiary of a funding programme in the past

Revoking of Credentials

Credentials will be revoked if:

1. When the data it contains or used to issue it has changed. For example, a change in the company address, representatives, etc.
2. If there is evidence of tampering, fraud, or compromise.
3. Changes in laws, regulations, or standards that govern the issuance and maintenance of credentials could lead to revocation if the credential no longer complies. Holders will be notified when credentials are about to expire, have expired or when they have been revoked. For expired or revoked credentials, the holder may request a new process to issue a new credential.