From the formation of digital and virtual schools like the Florida Virtual School, Utah Electronic High School, and North California Virtual High School to the popularization of edtech apps providing online tuition, technology has largely revolutionized the education sector. According to Statista, the global e-learning market will go beyond $243 billion by 2022. But, companies have decided to take a further leap to revolutionize and facilitate the work process of the universities and colleges related to the distribution of credentials.
TrustED has decided to metamorphose the conventional ways of maintaining the paper copies of academic credentials leveraging blockchain technology, and has already been partnered with California’s NetObjex and Dubai’s BlockGemini.
This blockchain-based platform is aimed at cutting short the expenses related to the complex process of document verification, and also will be helpful to the migrating employees. It is a real challenge to the HR departments to verify the originality of the submitted documents, but this platform will enable the institutes and other training centers to validate the credentials, and these cryptographically secured credentials will be stored on the distributed network of TrustED. This distributed network will be developed through Hyperledger Fabric, and TrustEd will leverage native token to make the transaction process easier. Different schools from Australia, India, and Cyprus have signed a partnership with TrustEd to leverage this innovative platform.
Previously, the Royal Melbourne Institute of Technology got partnered with Credly and launched a platform to enable the students to have digital credentials through blockchain. This initiative was aimed at providing the students with a better platform to share their information easily.
Statista has predicted that the global blockchain market will be worth $2.3 billion by 2021. This proves that blockchain technology has the potential to revolutionize every sector and will demand a considerable investment. In this changing scenario, TrustED’s decision to digitalize credentials leveraging blockchain will open up new windows and will encourage other companies to invest in.