A local news agency, auf Deutsch, published in one of its article the intention of Frankfurt’s school of finance to offer students the ability to prove their qualifications using blockchain technology.
The certification process will run on a blockchain service in the sense that, all the efforts and grades obtained by the students during their stay in the course of study will be recorded and kept on a blockchain network for reference purposes.
The school of finance intends doing all these in collaboration with Consensys, one of the leading software companies in the blockchain field, responsible for the development of a decentralized app (DApp) which can serve as a self-sovereign identifier. In this case, certificates are not necessarily published on a blockchain, but only copied to the computers of numerous network participants.
The copies can be encrypted so that the owner of a particular node in the respective network can decide on a case-by-case basis which certificates he or she makes visible to other network participants. Thus, the blockchain actually makes credentials physically portable for the students.
The Research Associate at the FS Blockchain Center and Head of the pilot project, Veronika Kütt referred to the new method as ‘Enticing’ In her speech:
We are doing pioneer work here. Our students find it a privilege to be involved in new technology at an early stage. It’s a bit like the programming of the first public Internet sites in the mid-’90s.
It is however worthy for us to note that the German school of finance is the first educational institution in the country to offer its students blockchain-based certificates, although, this new system is already in use in Switzerland at the University of Basel.