Emercoin, a leader in distributed blockchain business services announced they will design a new blockchain that enables graduates to store and share verifiable diplomas and other educational certificates on an encrypted and secure app.
Emercoin’s pilot project will be developed for the Business and Technology University in Tbilisi and available for other schools. The university, which opened in 2016 at Silicon Valley Tbilisi to offer students innovative new approaches to learning, is placing this pilot project on the Emercoin Blockchain because Emercoin offers unique flexibility through an innovative range of distributed services.
The new system addresses a global challenge among educators, businesses and graduates to certify the online accuracy and authenticity of education credentials. Outside of Georgia, due to widespread corruption and manipulation, online displays of those credentials are increasingly viewed as unreliable proof of work.
Graduates also can face difficulty obtaining their records from colleges or school systems that have closed or otherwise refuse to recognize their legitimate credentials.
The problem creates major challenges for a wide range of professional audiences, including college admissions officers, job seekers, and business recruiters. It also poses risks for the general public, which often cannot obtain certified credentials from doctors, lawyers, and other professionals.
“Built by Emercoin, the new system can fundamentally transform the way education certificates are stored and shared by people. We are honored to partner with the Business and Technology University to launch this pilot project, and we look forward to working with other colleges, universities and school systems around the world to build secure new ways for people to certify their education credentials.”
The university is partnering with Emercoin, which, through its unique Name Value Storage (NVS) capability, is more efficient and less expensive than other platforms. While Bitcoin is well suited for financial transactions, Emercoin’s NVS allows for efficient time-stamping of META-Data on its own blockchain that in turn gets merge-mined into Bitcoin Blockchain for security.
“We work hard to offer our students the highest level of security, innovation, and trust, and I believe this blockchain-based service will empower graduates to control their personal data in a way that truly helps them advance their careers and succeed.”
The pilot stage of the project will be operated by the university and will be offered in an open-source platform to other parties in the near future.
“Imagine a world where medical patients could trust the diplomas on their doctors’ walls. A world where job recruiters could easily confirm that applicants actually graduated from the colleges listed on their resumes. A world where you could find and share your education credentials online, without fear they’ve been altered or expunged by bad actors.”
Emercoin also announced recently that it is working with the Bitfury Group to build the first blockchain-based system for crisis insurance and risk management. The system is being built for specialist insurer Beazley and Lloyd’s of London coverholder Risk Cooperative.