Securing university certificates with the blockchain

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30.04.2018
Blockchain

Proxeus created a prototype for the University of Basel to create certificates of completion for the blockchain course of the Center for Innovative Finance. A first step towards securing academic credentials in an efficient way.

To provide a suitable finale to the “Bitcoin, Blockchain and Crypto Assets” course, the University of Basel’s Center for Innovative Finance (CIF) partnered with award-winning Swiss startup Proxeus to create completion certificates registered on Ethereum. This makes CIF the first institution in Switzerland to use blockchain to secure their academic credentials from fraud.

Proxeus took on the challenge to set another first and prove the flexibility and power of their technology, building the prototype in less than 100 hours. Two tools have been created - one for CIF, which will be used to create the certificate and register it to the blockchain with its unique cryptographic hash value. The second tool is will be publicly available, allowing anyone to verify that the electronic document has been issued by the university, and that the content is accurate.

This first prototype will be used to create certificates of completion for CIF’s blockchain course - but Managing Director of CIF Dr. Fabian Schär believes it’s just a first step towards securing academic credentials.

More than just window dressing for a blockchain course, the use of Blockchain offers increased efficiency for validation. Currently, employers and interested parties must call the university within business hours and request a validation, which cannot be provided without student consent - a labour-intensive and time-consuming activity. By using blockchain, the entire process can be done 24/7 online, swiftly and securely.

“Fraud is a problem in academia just as it is in any field,” Fabian Schär said. “By securing credentials on the Blockchain, we provide an extra layer of security for graduates and potential employers. These credentials can’t be faked, and can be easily verified online. It will introduce a new paradigm of security and offer value to all parties - employers don’t lose time checking credentials, graduates have an edge, and the institutions themselves reduce their reputational risk and a significant administrative burden.”

(Press release / SK)

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