Greek graduates will be able to confirm their qualifications with the help of a blockbuster. The national research and educational network of Greece GRNET and the research company IOHK are engaged in the implementation of the project.
It is the first time when the Cardano is being used on such a large scale. Cardano - blockchain technology, cryptocurrency with the mechanism of consensus proof-of-Stake and a platform for launching financial applications.
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Today there are only three universities that plan to use the blockchain for the diplomas: Aristotle University in Thessaloniki, Democritus University in Thrace and the University of Athens University of Economics and Business.
Here's how it works
While IOHK provides a decentralized database, GRNET provides a web-based interface and support. The project is partly financed by the Horizon 2020 (the EU's research and technology development program). IOGK chief specialist Agelos Kiyayas said that the development of the prototype has already begun.The placement of documents and records in the blockchain excludes the possibility of fraud since it allows alumni and universities" to give proof that there is such a qualification that is unquestionable.
To confirm that graduates have a degree which they apply to, the employer must check the official diploma or call the university. The laborious process makes it too easy for unqualified applicants to slip under the radar.
This is not the first attempt to keep diplomas on the blockchain. In October, the Massachusetts Institute of Technology announced its own pilot project to test digital diplomas using blockchain technology.
Against the backdrop of this news, Cardano began to grow steadily. For a day the coin has risen in price by 30%.
Information Source: Nasdaq