As verifiable credentials are issued one needs a way to track if these have been revoked and are thus no longer valid. This strategy described here allows anyone to check if a verifiable credential has been revoked in an efficient and privacy preserving way.
This SIP outlines a mechanism for the revocation of Verifiable Credentials through a new
StatusList2021Entry credential status on an issued verifiable credential and a
StatusList2021Credential which is a verifiable credential that encapsulates the status list of all Verifiable Credentials issued on the platform.
These will be multiple StatusListCredentials for each <issuer,schema> pairing
Here is the proposal link - ssi-service/sip/sips/sip7 at main · TBD54566975/ssi-service · GitHub
Very open to feedback and comments!