Swiss Students Will Get Academic Credentials Secured Through Blockchain
Swiss University of Basel will use DLT for securing academic diplomas from fraud and verifying them. The certifications will be registered on Ethereum’s smart contract.
DLT-based diplomas were created by one of the university’s faculties’ Center for Innovative Finance (CIF) and Swiss fintech organization Proxeus.
How does it work?
University will utilize two instruments: for securing a certificate and enabling its easy verification. First, the diploma will be created and registered on the smart contract with the crypto hash value. To verify a diploma, there is a different tool which provides access to public.
This is the first time of securing academic documents via DLT in Switzerland. The system was integrated into university’s operations in less than one month, and first experimental certifications will be created for finishing CIF’s Blockchain course.
Why is it advantageous?
The innovative method solves a number of problems such as time-consuming verification, loads of paperwork, and complicated verification process in case of various countries. More than that, with the new system, diplomas cannot be faked as all the information is transparent and accessible. Fake diplomas are a widespread problem, and Switzerland is the first country fighting the phenomenon.
Will the innovative DLT application spread?
Following the example of Switzerland, MIT has announced a program where 111 graduates will receive diplomas based on Bitcoin blockchain. Together with software development company Learning Machine and Blockcerts Wallet application, MIT will make the diplomas easy to verify and control by the students themselves.
Another university to integrate blockchain is Financial University under the Government of the Russian Federation. Students will get DLT-based diplomas with unique hash. Employers will have an opportunity to verify potential employees’ qualifications, while graduates will make sure their diplomas are secured.
Various blockchain applications will be discussed by crypto experts at the Blockchain & Bitcoin Conference Switzerland. Take part in the event and learn more about DLT in different industries!