As a digital ledger technology that stores information, perhaps the best property of the decentralized system is its immutability. Data, once entered on the ledger, is not editable, let alone deletable, unless the majority of the nodes agree to roll back. This specific property has its uses, especially where authentication and verification is of paramount importance.
Authenting Credentials
TrustED is an Australian decentralized platform that utilizes the immutable nature of blockchain technology to record the issuance of academic credentials, such as degrees and diplomas. The platform allows partner universities and other academic institutions to store their degree data, issue the said degrees and allow verification on the TrustED ecosystem.
The use of blockchain for such an endeavour brings in a lot of ease when it comes to verifying educational certificates. Today, firms and organizations all around the world are ever more focused on ensuring that the employees are being truthful with their resumes. Verification of certificates is a complex and time taking procedure. Authentication becomes even more difficult when employees are from different countries. TrustED simplifies the procedure, with anyone able to verify authenticity of issued degrees at lightning speed. The immutable nature means that the data uploaded cannot be changed, so users know that what they are viewing is original, making authentication easy.
TrustED Platform on Binance Chain
TrustED has partnered with Binance, the largest cryptocurrency exchange, to launch their Token Generation Event (TGE) on their propriety blockchain ecosystem, the Binance Chain. Binance Chain offers one of the fastest block time of 1 second, resulting in a near instant transaction speed.
TrustED will be one of the first platforms to launch on the Binance Chain, utilizing its top of the line security, speed and efficiency. TrustED’s CEO, Kosta Batzavalis, was very excited about partnering with Binance:
“Being one the first projects on Binance Chain is not only an honor but also a massive stepping stone for the TrustED project.With Binance technology behind us, TrustED can deliver on SLAs and security requirements necessary to make a blockchain-based academic solution enterprise-grade.”
Ted Lin, Binance Chain’s Chief Growth Officer was also happy about TrustED’s decision to utilize Binance Chain for its academic certificate verification system
“Binance Chain and the introduction of the Binance DEX enables thousands of crypto tokens and companies to utilize the technology in an efficient and effective manner. We’re excited to have TrustED be one of the first startups to utilize Binance Chain and look forward to the growth that is to come in further bringing cryptocurrency mainstream.”
TrustED Future
TrustED was launched in 2017, with a single minded focus of bringing academic certificates on the blockchain for authentication and verification. The platform is also planning to hold its TGE in the coming future. The platform will be the first to launch on the Binance Chain and will utilize the BEP2 token protocol.
The TrustED platform also provides educational material to institutes to learn about blockchain and how can they use the platform to store and issue their certificates.
For more information on the academic credential verification platform, visit their website: https://www.trusteducation.io/
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