DynaQuest Technology Services Inc – Award Winning Blockchain Solutions
  • HOME
  • ABOUT US
    • Partners
    • Reaching Out
    • Events
  • INDUSTRY SOLUTIONS
    • FinTech
    • InsurTech
    • HealthTech
    • BPO
  • BLOCKCHAIN
    • Blockchain Integration
    • Blockchain Pilot
    • Blockchain Tokenization and ICO
    • Digital Identities
  • IMPACT TECHNOLOGIES
    • Decentralized Economies
    • Indigenous Project
    • Smart Cities
    • Sustainability Framework
  • BLOG
  • CONTACT
  • HOME
  • ABOUT US
    • Partners
    • Reaching Out
    • Events
  • INDUSTRY SOLUTIONS
    • FinTech
    • InsurTech
    • HealthTech
    • BPO
  • BLOCKCHAIN
    • Blockchain Integration
    • Blockchain Pilot
    • Blockchain Tokenization and ICO
    • Digital Identities
  • IMPACT TECHNOLOGIES
    • Decentralized Economies
    • Indigenous Project
    • Smart Cities
    • Sustainability Framework
  • BLOG
  • CONTACT
February 28, 2020  |  By dynaquest_admin In Blockchain, Blockchain Education, Digital Identity

Blockchain in Education: Smart Contract Diplomas in South Korea

finger-2081169_1280

South Korea is a country known worldwide as the origin of K-Pop, the hometown K-Dramas, and a popular tourist destination. But what the country offers are not limited to that. The country is also a major force when it comes to technology, with Samsung and LG becoming trusted global brands. No matter where you look, you’ll see homes populated with Samsung and LG products.

With this much technology at their hands, there’s no surprise that South Korea is eyeing to become a worldwide blockchain leader. So far, a university the Land of the Morning Calm is preparing to launch blockchain-stored diplomas.

Pohang University of Science and Technology, or POSTECH for short, is the first university to offer blockchain-stored diplomas in the country. According to the university, the decision is said to be influenced by the current novel coronavirus (2019-nCoV) outbreak, which now has an official name: Covid-19.

Health is an essential aspect of the human body—it’s central to a human’s happiness and well-being. According to news outlets, the virus has already spread to different countries, starting from China to other Asian countries, and even reached the United States and other western counties. So far, the death toll reached more than a thousand while at least 42,700 are infected in China. In South Korea, there are more than 20 reported cases of Covid-19.

As for POSTECH, the potential threat is too great to leave unnoticed; hence, the university resorting to awarding blockchain-stored diplomas via email instead. The 828 graduates will no longer need to leave their homes on graduation day as they’ll receive emails from the university containing a QR code that directs them to their blockchain-stored diplomas. In cooperation with blockchain-based certification service broof and Korean blockchain startup ICONLOOP, students can access their credentials wherever and whenever they want to. They can also adjust the disclosure of their credentials since the level of privacy can easily be adjusted.

 

How does Blockchain Diplomas Work?

Blockchain diplomas came into conception due to the increasing threat and activities of fraudulent certificates. Due to the move from the traditional to the digital landscape in earning certifications, job hunters have the power to alter their credentials, adding false information about their educational attainment and even personal information.

So, how does smart contract diplomas really work for universities?

Basically, all universities issuing blockchain-enabled diplomas get access to a platform where they can certify the diplomas through a smart contract. A smart contract is a contract embedded into lined of code that facilitate, verify, or enforce the transaction. Once conditions are met, the transaction will push through, removing the need for intermediaries or other third parties.

Universities create a smart contract list where they can upload the diplomas, which will be open for a specific period. However, universities can only add new diplomas, but not deleting or updating uploaded diplomas. Once all the diplomas are uploaded, the smart contract will close, and no more diplomas can be added.

 

What’s in it for employers?

Using POSTECH graduates and ICONLOOP for example, whenever a POSTECH graduate applies to them and shows a diploma with blockchain technology, they’ll need to look it up on ICONLOOP. If the smart certificate is authentic, the name of the graduate should show from the database that houses all the names of the students who attained the degree or certification from POSTECH.

Verifying information takes time and effort. With blockchain, employers can quickly check if submitted documents are authentic and valid since it passed through a smart contract. They will no longer need to employ more human resources so accommodate job applications with blockchain-enabled certifications.

blockchain blockchain in education digital identity
Previous StoryEnterprise Blockchain in the 2020s Faster Adoption Times
Next StoryAmerican Pharma Companies Requests FDA for Blockchain Adoption

Related Articles

  • ALA 1
    DynaQuest Wins Innovative Company of The Year & CSR Company of The Year in Asia Leaders Award 2022
  • Rising-Tigers-Ball-1
    DynaQuest At The Rising Tigers Magazine Ball 2022

Archives

  • December 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • April 2022
  • March 2022
  • February 2022
  • November 2021
  • September 2021
  • July 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • November 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018

Quick Links

  • ABOUT
  • INDUSTRY SOLUTIONS
  • BLOCKCHAIN
  • IMPACT TECHNOLOGIES
  • BPO
  • BLOGS
  • CONTACT
  • PRIVACY POLICY

Follow Us

DynaQuest is a member of:

Sponsored Child: N/A

Donation :      N/A

    Kid Name

    Amount

    Name

    Email

    By pressing "Submit" your choice for sponsorship will be finalized.
    Please double check before submitting and thank you for your generosity

    DESIGNED AND DEVELOPED BY
    GLOBAL WEBFORCE
    COPYRIGHT © DYNAQUEST