Thesis · 2026

The transition layer
for work.

Verification value concentrates at one place: the moment a career changes, where the world someone is entering cannot read the world they are leaving. Carry is the verified record that crosses that gap. We start with the hardest crossing of all, leaving sport.

6-minute read Updated June 2026

When your career changes, no one can see what you've already proved.

Leaving sport. Leaving the forces. Graduating. Changing fields. At each one, the people deciding someone's future cannot read what they have already done. The sending world signs in its own language: appearances, caps, programmes, postings. The receiving world cannot parse it, so it discounts it.

AI made every one of those moments harder. The front door is now an AI screener, and it reads a polished, conventional CV far better than it reads a real but non-standard career. Volume compounds the problem, with hundreds of applications per role, most AI-assisted, and fabrication is now free. The CV stopped being a signal exactly when machines started reading it at scale.

The need is acute now. And the rails to fix it, mature cryptographic credentials and digital identity standards, finally exist.

Value concentrates at the crossing.

A verified work record is worth most precisely where illegibility is highest: at a transition between two worlds that do not share a language. That is not evenly spread. It clusters, and it clusters hardest where a person leaves a closed, high-signal world for an open one that cannot read it.

So we climb the ladder from the most acute and smallest to the least acute and largest. Sport first, then military, then education, then career change in general. Each rung is the same product. A new transition is a schema, not a rebuild.

One record. Paid for twice.

The person in transition holds the record and pays nothing, forever. Two different parties pay for it, at two different times.

The institution that developed them issues and funds the record, out of a duty-of-care budget, not an IT one. For a player association, a governing body or an academy, transitioning people well is becoming a measured obligation, and an issued record is the cleanest proof they met it. This carries the cold start.

The world that hires them pays to verify it. AI hiring platforms and early-careers employers cannot trust entry-level claims, so verified records are worth real money at the point of a hire. This scales on top, with usage-based pricing in the shape of Plaid and Persona.

Institution-pays solves the chicken and egg. Verifier-pays is the long-run business. The holder is free throughout.

Infrastructure for career data.

Carry is infrastructure, not another credentials wallet. The right comparison is Plaid for banking data or Persona for identity: a rail that other software builds on, with a different category and a different multiple to the wallet startups we are sometimes grouped with.

The structural moat is simple to state and hard to copy. Credentials in Carry outlive the issuers that signed them. Every issuer's key is archived the day they onboard, so when a programme closes or a body restructures, verifiers fall back to the archived key and the record stays mathematically valid.

Verification survives the institution that created it. That is the property that makes career data into infrastructure, not just another database.

The architecture, working today.

V0 is live and public, demonstrable in five minutes. The claims it proves:

  1. Person-owned cryptographic credentials, real ed25519, real did:key
  2. Real signatures, verifiable against published public keys
  3. The three-actor protocol end to end, issuer to wallet to verifier
  4. Selective disclosure, structurally enforced
  5. Multi-issuer composition without conflict, across several sport issuers
  6. A trust registry mirror, so credentials survive the issuer
  7. Forgery handled by mathematics, an invalid credential excluded automatically
  8. Four provenance states as first-class data, issuer-verified, open-standard, self-attested, and invalid surfaced rather than hidden

Two athlete personas carry the demo, Jordan Mensah, a released academy footballer, and Maya Osei, a funded athlete whose funding ended. V1 productionises the rest: true SD-JWT-VC, public trust registry, revocation, and DIATF certification. The technical risk is retired before the round.

Investors and technical reviewers: the full architecture proof and a live walkthrough are available on request.

For the people who care.

For the person in transition.

Everything you earned is signed, owned by you, and readable by the next world the day you leave. You do not have to retell your career. The record holds the receipts.

For institutions.

You can prove you stood by everyone you developed. Issue the record, see where people land, and turn a duty of care into something measurable.

For verifiers.

Cryptographic ground truth at the point of a hire. Usage-based, free to start and inspect, structured results no CV can give you.

For investors.

The verification layer for the moment careers change. A different category to credentials wallets, a different multiple to background-check vendors, and a moat that compounds with every issuer onboarded.

A nuance worth holding.

Some people are proud of their CV, and rightly, particularly in senior and creative roles. We are not invalidating it. The world changed under everyone, and we are building what the change requires: verification, the right payers, and ownership by the person, working in code, into a market that needs it now.

If you are building part of this, buying part of it, or investing in it, we would value the conversation.

Talk to us →