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Of trust announces the launch of its blockchain-based platform to revolutionize the process of verifying academic credentials. Taking advantage of the blockchain technology, TrustED offers the possibility to verify academic credentials in a secure and instantaneous way. The implementation of the scalable blockchain-based platform will allow major educational institutions and graduates to file and authenticate votes, credentials or certificates for employers.
The platform has already signed a partnership with universities and schools based in Australia, India and Cyprus. With TrustED, students, education and training institutions will have the opportunity to upload their accreditation to the platform and be tested to help employers migrate away from long, costly and manual verification processes. The open beta platform started on November 15th and the full version is scheduled for the third quarter of 2019.
The verification procedure on TrustED will remain initially free. However, this will change to a payment model once the mainnet has started up as current schedule.
"There are many examples where level C personnel were not completely honest about their diplomas, these and other unpleasant stories lead to excessive bureaucratisation of verification processes.The TrustED project uses advanced solutions in the blockchain field. Our main task is to increase trust between the academic community, businesses and ordinary people, and simplifying the process of verifying educational documents will allow teams to focus on more important paperwork tasks. "- Trust, co-founder, Kosta Batzavalis.
For the development of the TrustED distributed network, Hyperledger Fabric has implemented specifically intelligent contracts that also provide functions with common constituent elements to be reused through its own modular framework.
The Trusted Token (TED) will be based on the ERC2013 standard. The reason for using this standard is due to its wide acceptance and interoperability as well as its ability to be implemented in other services. Considering the use of a native token by TrustED to facilitate transactions on the platform, the application would be a hybrid system with interoperability between Hyperledger and Ethereum.
With nine existing partnerships, the academic credential verification service is already bringing legitimacy and convenience to the human resources industry. For example, the PDM university benefits from the foundations that TrustED will bring to their current emission and verification ecosystem. The private university has more than ten different faculties and is home to over 8,000 graduate students in the year.
"Pursuing innovations is an integral part of how we see the educational process in PDM. While it is critical for us to provide our students with a decent level of education, the PDM team does its utmost to ensure that graduates do not encounter any obstacles in the future. potential acquired TrustED is a great example of technology that is a perfect complement to education as a guarantee of a successful career. "- PDM University, Chitresh Lather, CEO.
The support of the TrustED platform is not limited only to higher education diplomas, but also allows the verification of training certificates, ensuring the qualification in specialized sectors (eg business administration or business management). Theo Mourouzis, coordinator of the course at the International Institute of Management of Cyprus, European business school founded in 1990:
"CIIM focuses on training high-level business professionals We pay close attention to the accuracy of the information that potential employers can obtain on our graduates, which is why the TrustED project fits perfectly into our vision how information should flow between all parts of the educational process in the new century ".
Blockchain technology allows TrustED to offer immutability, which means that third parties can not make changes, modifications or removals to data. When an institution charges the academic credentials of a student on the platform, the verifying parts are guaranteed by legitimacy.
"The EdWay Training project has become one of the first partners of the TrustED platform.We train specialists in areas that require special knowledge and skills, and the TrustED solution helps both graduates and employers to accelerate the process of verifying credentials. of those applications of blockchain technologies, which will simplify many complex processes in the life of society over time. "- EdWay Training, Founder, Sergei Sergienko.
The credentials issued by the verified institutions will be protected by cryptography and stored on the distributed TrustED network. In addition, credential holders will also be able to upload their credentials to the platform, but these credentials will remain unverified until they are validated by their respective credentials.
Holders of credentials and graduates will be able to create an account on the platform and have access to their verified credentials at all times, while having complete control over the distribution of these credentials within the system. Those wishing to verify an individual's credentials can do so in a few minutes by creating an account on the platform and requesting the same on the platform.
Disclosure: This article includes a client of an Espacio portfolio company
