Here we see a list of product offerings from Builder Validation Services. A typical construction project bid will typically require multiple credentialing to participate. Certificates of Insurance is one validation, but also required will be valid contractor licensing, localized business licenses, equipment training certifications, even "minority owned business" status when applicable.
We also see how potential credentialing fees may be applied this provider.
The way it works is the subcontractor will be verified by an independent validation service, and will purchase multiple validation scenario tokens to be included with each bid submittal.
That way both the bidding party has an efficient and repeatable way to handle credentialing, and the party receiving the bid will receive credentialing that has been verified by a third party, thus removing the burden of an internal verification process.
And should any expiration dates apply to these validation tokens, the token will automatically burn up on that expiration date and no longer be valid.
Legacy Process Versus Blockchain Process