Crossword Cybersecurity PLC (AIM:CCS) said it won a grant from the European Commission’s Next Generation Internet (NGI) initiative to lead a project on “transferring verifiable credentials.”
According to a statement, Crossword was given €41,625 to test OpenID Foundation’s protocols when transferring verifiable data on the World Wide Web Consortium (W3C), an international community that works to develop web standards.
Crossword will work alongside Spruce Inc, an IT consultancy, from the US and Fraunhofer, a research company, from Germany.
Crossword’s funding will be used to develop tests for websites that use OpenID Foundation’s suite of protocols, which are currently being developed for the transfer of data.
Open ID Foundation is a non-profit organisation that provides necessary online infrastructure and helps in creating websites on OpenID’s platforms for developers, vendors, and users, according to its site.
Professor David Chadwick will lead the project on verifiable credentials (VC), which is the digital standard for representing information such as passports and ownership of a bank account.
He has written books on the matter, as well as being R&D director for VC at Crossword, and creating Indentiproof, Crossword’s product based on VC standards.
“This is incredibly good news for Crossword and Identiproof, our leading SSI Self Sovereign Identity) product,” said Professor Chadwick.