Proof of Payment Stream As DID(Decentralized Identity) for Confío

We will provide a certificate of our users’ payment stream history to prove their credibility which can be potentially integrated with NFT. In Latin America, especially in Venezuela, it is hard to trust each other or even businesses. So references are a great deal. But even references are not trustworthy because even the governments are highly corrupted, and by bribing, people can buy many things that normal citizens cannot deserve. We will use our payment history to prove that a user is a legitimate person with some payment history. In other words, the user’s payment history doesn’t lie that they are a good business, a fake business, or a fake individual.

The user can disclose their payment history to a specific person they want (potential company/boss for an interview or potential business partner) or the public (if they want). And that payment history won’t be raw. It is a simple summary of where they have spent money for the last few months or years. For example, a user spends 40% of their money grocery shopping. But the viewer cannot know exactly the grocery store’s name. It will reveal their constant expenditure stream to the grocery store. And they got a salary from a company regularly in a certain time frame. But the viewer cannot know what exactly that company is. The user (owner of the history) can decide to disclose their payment stream history, and then the viewer chooses to get quotes from any of its connections with the revenue stream. For example, the viewer can ask the company that had regularly paid the salary to the person about who this person is. The viewer will pay for the quote, and the responder will receive the compensation. The payment history proof may resolve Venezuelans’ identification issues abroad where they have issues with proving their identity because of their legal statuses in the destination countries.