Students can now prove their qualification using the blockchain technology as The Frankfurt School of Finance & Management (FS) in Germany will now offer certificates in blockchain based courses, reported Cointelegraph on September 17.
Under the part of this pilot programme, the institute will offer the graduates certificates stored on a blockchain itself after the completion one of the FS’ courses on blockchain technology.
FS is collaborating with Consensys, a leading software company in the field of blockchain technology. They have developed a decentralized app (DApp) for so-called self-sovereign identities, however, certificates are not necessarily going to be published on the blockchain, it will only copy the file to numerous computers present on the network.
As the copies will be encrypted, the owner of a particular node in the respective network can decide which certificates they want to make visible to other participants of the network on a case-by-case basis. It will make the credentials physically portable for the students with the help of blockchain.
Head of this pilot project and Research Associate at the FS Blockchain Center, Veronika Kütt, finds this opportunity of digitally presenting a certificate “fascinating” –
“We are doing pioneer work here. <…> Our students find it a privilege to be involved in new technology at an early stage. It’s a bit like the programming of the first public Internet sites in the mid-’90s.”
Head of FS Blockchain Center, Prof. Philipp Sandner, said –
“With the blockchain you can store personal data, such as a CV or identity card, as in a picture book. With our project we show how easy and comfortable that can be for the user. ”
The project makes FS the very first institute of Germany to offer blockchain-based certificates to its students. The University of Basel, in Switzerland, is also using this new technology. Last April, the Center for Innovative Finance (CIF) introduced the project of registering course certificates on the Ethereum blockchain.