Digital Credentials (DC) – the digital equivalent of paper-based credentials. Just as a paper-based credential could be a passport, a driver’s license, a membership certificate or some kind of ticket to obtain some service, (e.g., public transport ticket), a digital credential is a proof of qualification, competence, or clearance that is attached to a person.
Digital Wallet – an electronic device, online service, or software program that allows one party to make electronic transactions with another party exchanging digital currency, information or data units for goods and services.
Learning and Employment Record (LER) – a digital record of learning and work that can be grouped together with other individual LERs for use in describing their abilities when pursuing education and employment opportunities. An LER can document learning wherever it occurs, including at the workplace or through an education experience, credentialing, or military training. It can also include information about employment history and earnings.
Verifiable Credentials (VC) – an open standard for digital credentials that are digitally signed, which makes them tamper-resistant and instantaneously verifiable. They can represent information found in physical credentials, such as a passport or license, as well as new things that have no physical equivalent, such as ownership of a bank account.