Credence

Credence is a novel communications security tool that authenticates senders and verifies their communications are unaltered. Credence can be used across domains, including corporate, military and federal communications.

Communications Security Using Decentralized Identity & Perpetual Know Your Customer (KYC).

  • In the past decade, Business Email Compromise has cost companies $55 billion dollars.

  • Every single day, 3.4 billion phishing emails flood our inboxes.

  • Every eleven seconds, somewhere in the world, a business falls victim to a ransomware or phishing attack.

Key Features:

  1. Prevents fake announcements, deep fakes, phishing, and spoofing through decentralized identity.
  2. Credentials internal and external communications, allowing recipients to validate and verify unaltered content.
  3. Does not store your content or data.

Use Cases:

Banking
Enhance trust and security in financial communications. With Credence, a bank’s customers no longer need to question whether an email is genuinely from their bank. By ensuring the authenticity of communications, banks can safeguard their customers from phishing scams and fraud, creating a more secure and trustworthy banking experience.

Legal
Protect sensitive legal communications. Attorneys can send encrypted messages to their clients with the assurance that both the sender’s identity and the message’s integrity are verified. For the client, this means complete confidence that their communication is secure, authentic, and untampered—critical for maintaining confidentiality and trust in legal proceedings.

Military
Enable seamless and secure operations in critical environments. Credence allows multiple drones and their controller to form a mutually authenticating communication network. This ensures that every node in the network verifies the identity of the others and confirms the integrity of all exchanged data. Such robust security is essential for mission-critical operations where trust and reliability are non-negotiable.

Advantages of Decentralized Identity:

  1. Traditional centralized approaches, controlled by single entities like governments or corporations, are prone to data breaches, limited user privacy, and reliance on intermediaries for validation.
  2. Decentralized digital identity using credentials enables validation and queries without exposing underlying data.

Facts About Digital Identity Fraud:

  1. 3.4 billion phishing emails are sent daily.
  2. Over 33 million records were expected to be extorted by 2023.
  3. Ransomware or phishing attacks occur every 11 seconds.
  4. Business Email Compromise (BEC) resulted in $55 billion in losses between 2013 and 2023, according to the FBI.
  5. Within ten minutes of receiving a malicious email, 84% of employees either replied with sensitive information or interacted with a spoofed link or attachment.
  6. Over 680,000 companies use email security tools.

Sources: FBI | Gartner | Astra Security | AAG IT Services