- New reports indicate that Georgia is to become the first country that would use blockchain technology for storing student credentials.
- The country is collaborating with Charles Hoskinson's IOHK, while the blockchain that it plans to use is Hoskinson's Cardano.
- While the project will bring yet another practical use case for the blockchain technology to life, it will also help fintech firms, improve supply chains, and improve government processes with smart contracts.
Blockchain technology continues to receive new use cases, not only in theory but in practice as well. According to a recent report, one such new use cases will involve storing educational credentials via blockchain technology, and Georgia will be the first country to implement it.
As part of its new project, Georgia will start storing, tracking, and verifying educational credentials by leveraging blockchain tech in public services. The report also revealed that the country will start using the Cardano blockchain for the purpose of tracking information. However, Georgia is using blockchain technology for other purposes, as well. For example, it is the first region to improve public service offering by using this tech.
To achieve this, Georgia is collaborating with the company IOHK, co-founded and led by Charles Hoskinson, who is also a co-founder of Ethereum, and the creator of Cardano itself. The two are working together right now to set up the so-called Blockchain Educational Credentials System.
How will blockchain help?
The project is expected to be completed in a few months, likely by June 2020. However, it has been in the works for quite some time — since June 2019. Back then, IOHK signed a memorandum of understanding with the Georgian Ministry of Education and the Business and Technology University of Tbilisi.
The company is being represented by George Shekriladze, who said that the credential verification service would increase legitimacy to the human resources industry and education industry alike. The blockchain’s decentralized nature will allow data to be stored in multiple areas at once, as opposed to only using a single server, cloud, or one person’s computer.
Furthermore, blockchain’s availability will allow students across the country to view grades, certificates, and more. They will have a secure network that will preserve the data, but also one that is very accessible and easy to use, which will let them share their academic qualification as per need. The data will not be deleted without authorization, nor will it be modified or even accessed by unauthorized individuals. As such, it will be in full compliance with the GDPR.
At the same time, prospective employers will also be able to easily verify potential employee’s academic credentials via the same platform, without having to go through the process manually.
As mentioned, the education sector will not be the only one that will benefit from this technology, as IOHK representatives also offer other uses of blockchain tech in the country. They are supporting new fintech firms, using the blockchain to improve supply chains, and are integrating smart contracts’ functionality in various government processes.
Further, the company also established a research center at the University of Wyoming and had donated half a million dollars in ADA — Cardano blockchain’s native cryptocurrency.