The UCL Centre for Blockchain Technologies at University College London (UCL CBT) is launching a new pilot project for blockchain-based verification of academic credentials. MSc Financial Risk Management graduates are now able to display a verified qualification on their CV through a QR code based on the Bitcoin blockchain, which instantly provides tamper-proof, verifiable information.
“The pilot will show that blockchain technology can be used outside of the financial sector,” said Professor Tomaso Aste, Scientific Director of the UCL CBT. “It will boost the CVs of students, providing proof of concept for the future potential to reduce universities’ burden processing verification requests and cut down the cost and time to verify qualifications for employers.”
UCL’s pilot project has been developed in partnership with Gradbase, a London-based developer whose technology leverages the Bitcoin blockchain to reduce fraud and administrative costs for both prospective employers and academic institutions.
Gradbase, founded in 2016 in London by two Imperial College London alumni, is funded by Global Advisors, a cryptocurrencies investment fund co-founded by Daniel Masters. “We are delighted that a top-tier academic institution such as UCL has recognized the potential for blockchain technology to change the world,” said Masters. “We look forward to receiving valuable feedback from this pilot.”
“We are very excited to have collaborated with Gradbase on a pilot which is a U.K. first,” added Dr. Paolo Tasca, the Executive Director of the UCL CBT. “The UCL CBT is playing a leading role in enabling the use of blockchain technology in the education sector, and we believe that, in the future, such technology will become mainstream.”
Gradbase is inspired by the “U.K. Digital Strategy for 2017,” which promotes new ways to work with personal data with more control and trust, and applications of blockchain and smart contracts…