Here’s the sad news: an increasing number of certificates in the labor market are forged or issued by fake institutions. Even though employers can check the authenticity of a local diploma, it’s not that practical. Blockchain solution has the potential to revolutionize the process of ascertaining qualification because the technology behind it is almost impossible to fake.
What’s the problem?
More than 6% of Bachelor’s degrees are falsely claimed, and the number even gets to over 35% of Associate’s degrees. If one is caught using a fake diploma in the workplace, the consequences may send them to prison. Even so, the numbers of risk-takers are growing fast. As long as we have diplomas with value, there will be somebody who will fake, print, and sell them.
Two options are popular in the black market: you can buy a fake certificate with real university credentials or an original certificate from a fake university. Correct serial numbers and falsified student records will seem trustworthy because the fakers manage to get inside the university systems.
How can we fix it?
BitDegree has started issuing blockchain certificates (OpenCerts) for completing online courses, and these certificates are as impossible to counterfeit as Bitcoin itself. “This means that someone who wants to produce a fake blockchain certificate would have the same problem as taking someone’s Bitcoins from their wallets … which is highly unlikely,” says Andrius Putna, BitDegree’s co-founder and CTO.
Every blockchain certificate is associated with a unique digital code which is then stored in the blockchain. All the information, such as student records, is attributed to the certificate. The system will check and guarantee that a recognized institution has issued the document so you can be sure it’s valid.
What’s the scope of OpenCert applications?
Blockchain-based records can be applied not only for academic credentials but also for professional certifications, workforce development, public records, etc. They are issued and verified with no middlemen, which is directly peer-to-peer with no need to contact the issuing institution. Since all of the data is kept on the blockchain, there is no way to substitute anyone’s details with false information.
The revolutionary solution is already in action!
The ability to have a secure, fraud-proof system is the historical moment when we can create and use a global ecosystem of interoperable and enduring digital records. Imagine how much time and money companies will be able to save. Risk-taking will be reduced when organizations have a handy tool to check their potential employees’ records. OpenCert is close to impossible to counterfeit, and it provides the opportunity to verify students’ (or employees’) records with much lower cost – time and moneywise.