BLOCKCHAIN SYSTEM OF AUTHENTICATION OF DIPLOMAS ATTRACTS 21 MILLION DOLLARS
The TrustED platform, created to simplify the process of verifying the authenticity of education diplomas, plans to raise $ 21 million during the January ICO.
Academic achievements and diplomas are crucial for personal and career development, but at the moment, to confirm them using an outdated system of data storage and issuance of certificates, when each University separately manages its own database. Employees and companies are forced to apply to third parties, paying for proof of authenticity of the diploma, which can be a significant amount, especially to confirm the diploma of another country.
Founded in 2017, the blockchain startup TrustED aims to digitize academic achievements and completely change the way certificates and diplomas are obtained, stored and verified using blockchain technologies. The startup has already entered into a partnership agreement with BlockGemini in Dubai and with NetObjects in San Francisco, and has opened several offices in the US and Australia.
The founders of the project promise that students will be able to easily share their diplomas, independently identifying those who will have access to their personal data, and employees will be able to quickly and without intermediaries to confirm the authenticity of the documents provided to them.
Since the beginning of the summer, a team of Oxford professors and scientists has been working on the creation of the world’s first blockchain College, having already asked the regulators of the European Union for accreditation for the issuance of diplomas, where the system will also allow to verify the authenticity of diplomas, protecting the work of conscientious students. Also last year, the intention to issue blockchain diplomas was announced by MIT and the Central College of New Mexico. Residents of the Bahamas since August can receive and confirm their diplomas of education with the help of the new blockchain system. In Russia, the system of authentication of diplomas introduced Financial University under the government of the Russian Federation in Moscow.
The use of blockchain in the production and verification of important documents is already found in many areas: in India, the blockchain will store data of birth certificates, Poland began to register on the blockchain data of the credit history of citizens, and in Africa, the blockchain is widely used in the issuance of documents of land ownership.