The Frankfurt School of Finance & Management (FS) in Germany has announced recently that students can certify their knowledge and skills with certification which is using blockchain technology.
For the pilot project, FS is collaborating with Consensys, one of the biggest software companies in the blockchain industry. Consensys has established a decentralized app (DApp) for “self-sovereign identities”. Through this system, certificates are not published on a blockchain but only duplicated to the computers of multiple network participants. The copies can be encrypted which allow the particular node in the individual network can make a decision with a case-by-case basis which certificates he or she makes visible to other network participants.
The research associate at the FS Blockchain Centre and head of the pilot project, Veronika Kütt, expressed her enthusiasm toward the digitalised certificates. She is pleased that students find advantages to be part of the new technology in the beginning stage of it.
The head of the FS Blockchain Centre and professor Philipp Sandner stated, “Our project can be a mirror to foresee how easy and comfortable the blockchain can be as a storage of personal data including CV and identity card.”
FS is the first educational institute in Germany which publishes blockchain-based certificates to its students. The new technology is also being utilized at University of Basel in Switzerland. The Centre for Innovative Finance (CIF) publicized course certificates registered on the Ethereum blockchain at the end of April.
Author: Jieun Lee