The Danish publication Bootstrapping dedicated an article to Trusted Diploma project. The Emercoin team is happy that many countries are interested in the system.
Blockchain will leave the CV cheating in the past
The forging of documents is an ever-growing problem for both Denmark and the abroad. However, with the help of blockchain, it may become a thing of the past. The technology has gone far beyond cryptocurrency trading.
Documentation in the education sector is a serious problem all round the world and for Denmark in particular. According to information by HireRight, 85% of applicants worldwide lie in their resumes. This figure was 66% only five years ago. In recent years, there had been several document frauds due to the financial crisis and a higher level of competition for good offers.
In 2017, 120 people were accused of this type of fraud and a year earlier the information about another important case of fraud had been made public. The Copenhagen police discovered a business that was selling fake diplomas that were “issued” by the University of Copenhagen, DTU, CBS, the University of Applied Sciences and the Copenhagen Business Academy.
But soon, fake resumes may become a thing of the past: blockchain is one of the most popular technologies that can protect data from fraud.
For diplomas and resumes
Blockchain can be described as a decentralized system consisting of a chain of information and cryptographic codes. The storing of information on multiple computers is its strongest advantage. It cannot be copied and modified without breaking the chain.
“Blockchain can be used to ensure the authenticity of documents that banks, lawyers and notaries issue today for signing. Obviously, blockchain can also be used to ensure the authenticity of educational documents. The guarantee of authenticity is in the "chain": it cannot be changed, since it will violate its own integrity. Blockchain itself also protects the origin of the documents,” explains Preben Mejer, board member of the Alexandra Institute and founder of the Innovation Lab.
This cryptographic security is distributed throughout the network. It makes blockchain a promising technology for many areas and not only for digital currency.
“Unlike centralized databases, blockchain allows you to store information in a decentralized infrastructure. The information added to the blockchain is protected by timestamps. A change of even a single letter will become known to all the nodes of a network. Blockchain is suitable for storing any information, including resumes and diplomas. After uploading, they cannot be changed by unauthorized users. Only the owner can make changes,” explains Anna Belaya, PR manager at Emercoin.
Even universities cannot cheat the system
Emercoin is an Estonian blockchain company, a leader in non-monetary solutions. Its founders see the need for a safer infrastructure in the education sector. They developed a blockchain platform that makes it easy to check diplomas and certificates in an application where even universities cannot create a fake diploma.
“With Trusted Diploma, a person or an organization that checks the qualifications of applicants can be confident that the data they see is reliable,” says Anna Belaya.
Emercoin is trying to make blockchain understandable and easy to use. Job seekers can check their certificates or diplomas in the system without fear that they may be altered or corrupted. Even Emercoin cannot change the information in the Trusted Diploma platform.
Trusted Diploma is built on the Emercoin blockchain as a distributed repository of educational data. Emercoin does not control the system, the consensus mechanism guarantees the security of the blockchain.
“There is trust in the blockchain, which does not depend on companies and organizations. Today we have to deal with the so-called “centralized trust”, as we allow banks to control our transactions. We trust insurance companies to keep our confidential data and rely on companies like Facebook, Google, and Uber. But if these companies change the rules, there is nothing we can do. With blockchain, we don’t have to trust anyone. We can make transactions and protect personal information without involving central authorities. This is a huge advantage of decentralized technologies that can be applied in different industries for different purposes,” says Anna Belaya.
We are still at the dawn of evolution
There are still many industries where the blockchain can bring fundamental changes. It is already used to protect legal documents and digital assets that must be protected by copyright.
According to Emercoin, the technology has great potential and its use is limited only by our imagination. It is still a real innovation for the masses, which can be compared to the inception of the Internet itself.
“Although it is difficult to predict the future of blockchain, this technology will remain with us for a long time. Its potential is so great that we are yet to see many impressive projects built on it. At first, everyone was talking about cryptocurrency, but now more and more people are starting to talk about developing solutions for real-world problems. Companies and organizations have also begun to recognize the benefits of the technology. And we are at the dawn of the development of this decentralized technology, ”says Anna Belaya.
You can read the original article here.