South Korea-based public blockchain project ICONLOOP (ICON) is poised to receive mainstream attention as according to January 15, 2020, report by Mineable, ICONLOOP’s BROOF platform will be used by Postech University for the issuance of graduation diplomas.
ICONLOOP’s Offering Put to Use
If 2019 was the year of all the hard work and dedication put in by blockchain projects into their products and services, 2020 can be called the year of fruition.
ICONLOOP, a South Korea-based public distributed ledger technology (DLT) project that aims to disrupt process-intensive industries with emerging technology recently announced that one of South Korea’s top-ranking universities – Postech – will soon begin issuing blockchain-based graduate diplomas using ICONLOOP’s BROOF platform.
For the uninitiated, BROOF is ICONLOOP’s DLT-enabled platform for the issuance and storage of certifications. Blockchain technology’s immutability makes it a perfect tool for the issuance and storage of data that is highly-individualistic in nature. In short, BROOF can be considered one of ICONLOOP’s major services that could push the use of blockchain technology among the mainstream audience.
As a result of this partnership, authorities such as the Seoul Metropolitan Government, Citizen’s Hall, and Postech will be able to vastly mitigate the costs associated with issuing and storing paper-based documents.
In the same vein, the DLT-based diplomas will also help the students in that it will make it easier for them to prove the document’s authenticity as it will be issued on a secure blockchain. Further, it also eliminates the risk of material damage or loss of the certificates.
Blockchain and Universities
Universities the world over are rapidly warming up to the myriad potential benefits of putting blockchain technology to use.
BTCManager reported earlier last year how crypto-friendly country Malta was mulling using DLT to issue all educational certificates on the blockchain. The University of Bahrain followed Malta when it announced that it would begin issuing certificates on blockchain to circumvent issues like forgery, damage, and bring more transparency to the entire process.
On a more recent note, in September 2019, BTCManager informed its audience how a Singapore-based firm named Review Revise Renew Ltd. had developed a DLT solution that aimed to permanently solve the problem of fake degrees and enable firms to hire the most qualified candidates.
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