What is Web 3.0 Blockchain Trust

















In order to adjudge the competence, consistency, and impartiality of firms that certify compliance of goods and services providers against specific standards, the certification service providers (CSPs) are assessed and accredited either by regulatory bodies or by other firms that are categorized as accreditation service providers (ASPs), who conduct assessments of the certification service providers against the requirements of the ISO/IEC 17021-1:2015 and ISO/IEC 27006-1:2024 standards thereby providing  accreditation against these standards. 

In essence the ASPs create a "chain-of-trust" which delivers "trust" to the parties who evaluate entities' compliances that the CSPs acted with competence and fairness during the certification process.  However this elaborate multi-tier "chain-of-trust" is not only resource-intensive system with a heavy cost attached, but it is a centralized "chain-of-trust" thereby all the vulnerabilities and loopholes that are present in centralized systems where humans are the key decision-makers prevail in this system created by the ASPs and CSPs.


















With the advent of Web 3.0 blockchain-based decentralized digital trust systems based on smart contracts, it has become possible to create a more robust "chain-of-trust" system that would minimize human errors and biases and at the same time deliver a "chain-of-trust" system for compliance certification of entities at a significantly lower cost. Envisioned for the first time in 2023 for IoT ecosystems, many entities have built blockchain-based systems to enhance transparency, trust, and efficiency in compliance processes across different industries.

The Global Professional Blockchain Council of Canada has created a Web 3.0 based "chain-of-trust" system based on smart contracts. It allows entities to directly initiate assessments on a self-service basis and provides trust to other parties who need to validate this trust against the same standard of assurance that is required by ISO/IEC 17021-1:2015 and ISO/IEC 27006:2024.