Are Blockchain-based Digital Certificates the Solution?

Are Blockchain-based Digital Certificates the Solution?

Introduction to BDC (Blockchain-based Digital Certificates)

From the beginning of 2017, there has been a constant hype around blockchain technology. However, there are still not many people who understand the actual value of this technology. There are numerous misconceptions about blockchain and its adoption outside of FinTech. 

Blockchain has a massive role to play in the education sector, particularly for graduate students.

This article is to discuss the introduction to BDC or Blockchain-based digital certificates, with a specific focus on how it can help educational institutions, students, and professionals. We think this kind of technology will be very valuable in the near future.

BDCs use blockchain technology to ensure that the person in possession of a certificate is in fact the same person whose identity is attested to by the certificate. They are like passports for the digital world, providing a secure and efficient way to prove your identity.

The certificates are issued by a trusted third party, a certificate authority that leverages Blockchain technology to issue digital certificates. 

BDCs are the future of educational certifications all over the world. Issuing and verifying academic certificates with Blockchain is going to become mainstream very soon. As a matter of fact, a lot of institutions have already implemented this technology into their system.

What makes Blockchain one of the most sought-after technologies in the field of education?

There are numerous advantages of implementing BDC into the education field. Here are some of the most common advantages that we’ve compiled in the form of a list.

1. Blockchain-based Certificates are portable

Unlike physical certificates, BDCs don't have to be carried around. You can have it in a Blockchain and access it from the gadget you are using.

2. Used for Identification

Blockchain-based Digital Certificates are the modern replacement for traditional systems. By leveraging a highly trusted mechanism of managing identities, Digital Certificates offer you an easy way to digitally verify identity and everything else important about you on the Internet. It is a great tool for identity management.

3. Used for Micro Credentialing

Blockchain-based Digital Certificates are used for micro-credentialing through which academic degrees are validated. This can be used for verifying the skills of students and professionals, helping them in employability.

4. Used for Data security

Deployment and enhancement of data security are the most crucial benefits of using BDCs.

5. Low cost

Implementation of this technology is not a costly affair. Due to the low-cost nature of Blockchain, Digital certificates can be issued to students and professionals at a very minimal expense.

History of blockchain

Blockchain has taken the world by storm. It is popularly known for being the underlying technology behind cryptocurrencies. 

In the present times, you can see the use of this technology in multiple industries.

But, where did it start from? How did it reach this stage?

Here is a short overview of the history of blockchain.

The Blockchain Timeline

1991

While the term blockchain has become popular in the media, the technology was actually proposed as early as 1991 by Stuart Haber and W. Scott Stornetta. The duo believed that time-stamping digital documents could be an effective way to prevent tampering.

1998

Computer scientist Nick Szabo started working on bit gold, a decentralized digital currency. It was never implemented.

2000

Stefan Konst released his theory of cryptographic secured chains, as well as ideas on how to implement it.

2004

Hal Finney, a computer scientist, introduced the concept of Reusable Proof Of Work (RPoW).

2008

The pseudonymous Satoshi Nakamoto released a white paper proposing the model for a blockchain.

2009

Satoshi Nakamoto adapted blockchain as one of the core technologies that power bitcoin.

2014

Blockchain technology, which was originally used only to exchange currency, entered the early stages of being applied to other applications. It was the beginning of Blockchain 2.0. 

2015

Ethereum was launched as the first Blockchain 2.0.

2017

Initial Coin Offerings and Blockchain-based projects became common.

Blockchain-based certification and student records/data repository

Today, Blockchain technology is getting a lot of attention. It has already been put to use in a variety of fields that are not associated directly with cryptocurrencies, including academic certification and student record maintenance.

The traditional record-keeping and certification process has its own set of challenges. Blockchain can solve this problem and make it easy for students as well as educational institutions to maintain the students' records safely.

The application of Blockchain for academic purposes is one of the best things about the technology. It allows students to easily verify their academic records, and it also allows educational institutions to store all their student data in one place.

There are some major advantages of using a Blockchain-based student data repository.

1. Traditional educational records are usually held as paper files that can deteriorate over time. They're also vulnerable to loss or theft. By storing the records on a blockchain, you safeguard them from damage and destruction.

2. Education records such as diplomas, transcripts, credits, degrees, and certificates can be easily transferred and shared with third parties (colleges, universities, companies, government agencies).

3. Storing academic records in a decentralized system gives students more control over how they're accessed.

By storing educational records on the blockchain, users can easily verify and apply their credentials, expediting the hiring process and improving the verification processes.

Tackling fake certificates

One of the biggest hurdles for employers is to differentiate fake certificates from real ones. Forged certificates (soft copy and hard copy) can be bought from the internet at cheap prices. This leads to uncertainty and doubt regarding the credibility of the applicant/student. 

Although there are traditional methods to check for fake certification, they aren’t fool-proof. Moreover, the whole process is time-consuming. This is very unfair for students with original certificates.

The solution to this problem lies in the implementation of blockchain technology. Blockchain-based digital certificates are the best way to tackle the issue of fake certificates. 

Educational institutions have to take the initiative to embrace this technology and ensure that their students’ records and certifications remain immutable and instantly verifiable.

How digital certificates issued on blockchain work?

To get a digital certificate, you have to approach a certificate authority.  

A student gets a certification and wants to put it on Blockchain. He/she approaches the coordinator/certificate authority to do so.

Here are the steps that are taken to verify and issue the certificate.

1. Log in to the registration system to initiate the transactions.

2. Get all relevant information about the student and the certificate.

3. Operations are grouped in the same block.

4. Operations and Block are validated by the pre-selected nodes of the network.

5. The block is added to the chain, marking a permanent and unalterable record of transactions.

6. The certificate is dated and created with all the information, then it is linked to the student. Through this information, a hash is calculated that serves as the signature of this certificate.

7. This certificate may be consulted and its authenticity verified.

Why is investing in BDC worth it for educators?

Blockchain-based ledger technology is immensely helpful for educators and academic institutions. From maintaining student records to issuing Digital certificates, a lot can be done on the blockchain. 

To briefly understand the worth of BDC for educators, take a look at the following points.

Quick and Easy

One of the greatest advantages of BDC is that it is extremely fast. You can get certificates for a student verified instantly. It can save you a lot of time.

Verifiable

Information stored on the Blockchain can be verified easily. Anybody can obtain a complete verified record of the academic certifications and achievements of a student with just a few clicks.

Traceable/fraud-proof

Blockchain-based certifications are tamper-proof digital records that can't be forged or destroyed. They are specially created to prevent tampering or fraud.

BDC supports tracking of lifelong learning 

Educational institutions have taken huge steps to cope up with the crisis situation due to COVID-19. The massive efforts made by educational authorities in a short time are commendable.

Most educational institutions have inclined towards technological advancements to improvise their educational systems.

Blockchain-based certification providers have taken it upon themselves to provide all the support needed by these educational institutions to provide digital certificates to students.

These entities have made the resolution to support educators beyond Covid times.

Educational institutions have to understand that this technology is not just meant for crisis situations. It is, in fact, a wake-up call to give up old methods of certifying students and embrace the power of blockchain technology to provide academic certifications and maintain data records for students.

BDC facilitates International mobility of workers

With the ease of access to documents and the underlying trust of blockchain technology, it has become easy for employers to perform background checks on workers. 

Skilled workers can remain assured that their Blockchain-based Digital certificates are secure and accessible to employees globally. This ultimately promotes movement of skilled workers on a global scale.

Why are Governments supporting Blockchain?

In recent years, it has been observed that Government bodies all over the world are showing interest in Blockchain technology. While some countries have completely adapted and implemented this technology, others are performing further research on this.

There are various use cases of Blockchain in the Government sector.

Blockchain can have a great impact on multiple sectors including -

• Smart cities
• Central Banking
• Vaccination tracking
• Verification of academic and professional qualifications
• Loans and Grants tracking
• Payroll tax collection

Recruiters can easily access BDCs and quicken the verification process

Blockchain-based Digital Certificates help in -

• Easy access to proof of skills
• Faster recruitment

Blockchain can have a great impact in the field of recruitment.

The application of Blockchain technology for academic and professional certification has paved the way for HR (Human Resource) agencies and departments to verify potential employees and get them on board faster.