News
Academic Credentials Issuance, Storage, and Verification Made Easier
Bitcoinist | Nov 22, 2018 | 06:00
Academic credential verification is undoubtedly something anyone has to go through at a certain point in their lives. Job hunting aside, it’s also important when moving through certain geographical borders, regardless if it’s for work or study. TrustED transforms the current, exhaustive, expensing, and time-consuming by tapping into the potential of blockchain technology.
Issues Currently Faced By the Industry
Your academic credentials are of monumental importance for your overall personal and career development. As it currently stands, there is an established status quo of how this information is being issued, stored, and verified.
Universities, as well as academic institutions of different kinds across the entire world, create and manage their very own databases. This is a system which has credential holders relying on their respective academic institutions to deliver proper and valid attestation of their own credentials, regardless of whether they hold the original certificates or no.
Furthermore, employers or institutions looking to verify said credentials will have to go through third-party service providers, bearing the additional costs and wasting an unnecessary amount of time.
Enter the Solution: TrustED
Conceived back in 2017, the concept behind TrustED is to digitize academic credentials and to revolutionize the overall way we receive, share, and verify academic credentials through the power of blockchain technology.
In the first six months of its existence, the project managed to vastly expand, partnering with Dubai’s BlockGemini and California’s NetObjects. It strives to deliver an all-in-one solution which will benefits all participants.
Universities and Educational Institutions will be able to upload and certify academic credentials on a blockchain-powered platform.
Students can access and, thereby, share academic certificates as well as credentials easily, while also being able to determine who the documents are shared with.
Employers will be able to review, download, and verify shared documents in a hassle-free way without having to go through the burden of third-parties.
TrustED brings forward a service which is intended to reintroduce the honesty, convenience, accessibility, and legitimacy to the human resources industry. Some of its main benefits include but are not limited to:
- Guaranteed Authenticity
- Secured Storage of Information
- Simplified Verification
- Blockchain-powered
- Easy to Use
The infrastructure of the project enables different universities as well as educational and training institutions to store and to authenticate grades, certificates, or credentials. It is intended to leverage blockchain-based technology. Furthermore, permissioned parties are going to be able to verify academic credential of any given individual through the platform. This is supposed to bring an end to existing manual processes which are both lengthy and expensive.
Even though the project was founded only a year ago in Australia, it has now managed to expand and harbors over 20 team members spread in offices across the US and Australia.
The project will launch its formal Initial Coin Offering (ICO) on January 20th, 2019 and it plans to raise a total of $21 million.
You can read more about TrustED on its official website. You can also stay tuned and read regular updates on the project’s Facebook or Twitter page.
What do you think of TrustED? Don’t hesitate to let us know in the comments below!
Images courtesy of Shutterstock.
