You probably know the feeling when you graduate from college or faculty. But what does this have to do with blockchain tech?
A blockchain startup has developed a system that will allow digital diplomas to be kept in a blockchain-based portfolio. The project was designed in collaboration with the Massachusetts Institute of Technology and managed to raise funds worth $ 3 million.
PTB Ventures, Omidyar Network, and Learn Capital are the companies that took care of the financial side. The project garnered many positive opinions and funds as soon as the Massachusetts Institute of Technology made public the collaboration with the startup Learning Machine that aims to develop a diploma system.
Among the other educational institutions that have come to terms with blockchain projects designed in collaboration with Learning Machine include the University of Melbourne. They have launched a software tool that allows free transfer of certifications from one block to another one in order to eliminate the possibility of document falsification.
As for the new projects, customers will be able to choose on which blockchain network they want to keep the diploma, for the simple reason that some prefer a public network rather than a private one.
“Right now in part I think because blockchain technology is still relatively new, there are a lot of high or strong emotions about which blockchain is better than another and blockchain has kind of engendered these fierce loyalties,” stated Natalie Smolenski, the Vice President of Business Development of Learning Machine.
“We don’t want to pick winners with blockchain. We do generally recommend users pick blockchains with a proven record but ultimately you don’t want to prescribe to customers which blockchain they should use. If they have strong feelings about ethereum, they should use ethereum; if they have strong feelings on bitcoin, they should use bitcoin; if they have strong feelings on a private blockchain they should use a private blockchain,” added Smolenski.
Smolenski predicts that educational institutions will adopt modern technologies on a large scale, noting that such projects based on blockchain system will be useful and desired in this sector.