The world of academia and any other institution dealing with certificates and credentials face the problems of fraud, lost certificates and modified certificates. These problems result in expensive and time-consuming issuance, verification, recovery of lost or modified certificates, while many times this is impossible. Our platform provides an all-in-one-solution for the above challenges by providing a simple, scalable and robust solution to how academic certificates can be digitized, published, distributed and independently validated. This is attained with the use of distributed ledgers, also known as blockchains.
Initially introduced in late 2008 as the technology underlying Bitcoin, blockchain drew attention as a technology whose attributes could be used for so much more than just cryptocurrencies. Whether private or public, distributed ledgers based on blockchain offer trust as the records are immutable. Only data that has been deemed as reliable and true are accepted and added to the chain in the form of blocks. Once added to the rest of the chain, the records are impossible to alter producing records whose content is indisputable and allow for complete transparency.
This has monumental implications for the provenance of certificates and credentials, as well as the speed with which their veracity can be verified by a third party (e.g. an employer), with absolute certainty. Not only are universities and issuing authorities protect their own brand names from being tarnished, but businesses and HR departments can now sift through a plethora of credentials more efficiently, and be certain, that a candidate employee is who he says she is without long waiting times or processing costs.
All in one solution: it provides a holistic solution to the various issues concerning certificates, including that of fraudulent certificates. The Open Source code is accessible to interested parties for further modifications for the design and development of new customized services. Our process is not the end, it is the beginning to tailoring it to your individual needs, with our support.
Disintermediation: innovative technologies based on blockchains can be used as a competitive advantage multiplier. The Blockchain is a decentralized data structure that enables participants, to transact directly with each other, while minimizing the presence of intermediaries, and to store the history and state of these transactions in a ledger, in an immutable and persistent manner. This happens privately, with no one else having access to the data or the metadata of your certificates. You are in complete control your data, even if it’s stored in multiple copies around the world.
Immutability: no single actor in a blockchain construct can unilaterally change some else’s entry in the ledger, no one can stop someone from making an entry and no one can delete any piece of the blockchain as it is stored in multiple nodes globally. Your certificates are forever once they’re placed there, and still you maintain revocation and amendment rights for when that is needed.
Blockchains as transaction mechanisms: facilitate faster, safer and quicker clearing and settlement of transactions/requests between transacting parties, organizations issuing certificates, employers etc. As a result:
- Time required to issue certificates is significantly reduced
- The costs of re-issuing certificates in the case the hard copy is lost are zero
- Authentication by the interested parties is instantaneous and operational costs minimized