In the last two decades, the Education and Training sector has been transforming itself quite significantly with digitization across various areas starting with ERPs, Digital Learning, Micro Credentialing, Learning Analytics and so on. &nbsp;While the change is on, there are some areas which are still crying out for innovation. &nbsp;In this first Blog for our Veri Once platform, I am going to focus on a possible role for blockchain in Credentialing of Knowledge and Skills.<o:p></o:p><o:p>&nbsp;</o:p>

Despite all the transformations, Academic Credentialing across the world is still a paper-based ecosystem, for the most part. &nbsp;Given the importance of prior learning in decision making organizations, education providers and employers resort to verification of these credentials before accepting them as a part of an employment or admission application.&nbsp; Obviously, this verification can only be paper based, as the source itself is on paper.&nbsp; <o:p></o:p>

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Despite everyone’s best efforts, neither the paper-based credential nor the process that is used as verification can ensure its authenticity. Verification methods used today are quite inefficient in terms of time and cost.&nbsp; Due to this, many organizations avoid such verifications while risking poor admission or hiring decisions.&nbsp; While others, due to compliance related realities, do verify, despite low authenticity and efficiencies.&nbsp; Given the challenges involved, verification as a process is outsourced to intermediaries.&nbsp; Obviously, that does not make the process any more efficient or easy. <o:p></o:p>

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There have been efforts in the past by governments, apex bodies and some entrepreneurs to digitize credentialing at different levels.&nbsp; Such initiatives have had a small impact at regional, sectoral or country levels. &nbsp;Nothing global so far.<o:p></o:p>

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Can this world be re-imagined? &nbsp;What if there is a digital platform that connects schools, universities, training institutes and professional bodies across the globe? What if employers can also be part of this digital community? &nbsp;I can already hear some of you screaming “Security”, “Privacy”, “Single Point of Failure”, “Vulnerability”.&nbsp;&nbsp;&nbsp; I respect that!&nbsp; Let us add some attributes to this digital platform so that we can address some of these concerns. <o:p></o:p>

This digital platform should be decentralized with nodes at each participating institution.<o:p></o:p>

It should be permission based so the owner of the credential can decide who can get access. &nbsp;<o:p></o:p>

It should be secure enough in such a way that all the data stored is encrypted. <o:p></o:p>

It should be strong enough to ensure that one single instance can change a credential in isolation without rendering it useless. &nbsp;&nbsp;<o:p></o:p>

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For those of you who understand blockchain, you already know where I am going with this. &nbsp;<o:p></o:p>

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What is blockchain?&nbsp; It is a decentralized, distributed, and oftentimes public, digital ledger consisting of records called blocks that are used to record transactions or track assets. &nbsp;Immutability, Decentralized storage, Encryption, Permission-based access etc. are some of unique features of blockchain. Hence, blockchain, by definition, can be an ideal technology choice to digitize credential storage and sharing.<o:p></o:p>

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One of the use cases of blockchain in this context can be to get all institutions, that offer credentials, across the world to be part of a global blockchain network.&nbsp; Here is a pictorial view of what this world will look like<o:p></o:p>

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Any skill recorded anywhere in the world will be hashed and stored in nodes across the network, in line with principles of blockchain.&nbsp; Permission based access will be provided to players in the blockchain and other external players to view data in the chain. &nbsp;That would make it Decentralized, Authentic, Secure, and Immutable. &nbsp;Perfect!&nbsp; Isn’t it?<o:p></o:p>

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Not so fast!!!<o:p></o:p>

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To be honest, this idea is quite old.&nbsp; &nbsp;Despite several articles, blogs and POCs published out on this topic, it is yet to find its mainstream usage. Why??

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<img alt="Degree" data-entity-type="file" data-entity-uuid="edfe4363-a55f-49ea-bd09-b548e96fbd9b" src="https://drupal-v6rsh7lg4cnmfxpwogkrgtiptbe2skxs.verionce.com/sites/default/files/inline-images/Degree.png" />

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It is my view that there is no global consensus (at least none that has been made public) amongst the issuers of credentials to get on to a platform of this nature. <o:p></o:p>

Governments globally have been sceptical about blockchain as a technology possibly due to one of its major use case, Cryptocurrencies. In my view, this could also be impacting the adoption of the technology.<o:p></o:p>

Given the diverse nature and demographics of this space, it could be challenging for organizations globally to be part of such a blockchain network due to costs involved, availability of infrastructure, geo-political realities etc. <o:p></o:p>

Perceived lack of maturity in blockchain as a technology could also be one of the entry barriers as well for such a large global initiative.<o:p></o:p>

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So, what is the way forward? &nbsp;Is there any other way to circumvent some of these challenges and still use blockchain to digitize credentials globally? <o:p></o:p>

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The answer is “Yes”. &nbsp;The Veri Once Team is looking at this problem from a different angle to come up with a student centric digital credentialing platform.&nbsp; In my next blog, I will talk more about how Veri Once will use blockchain to transform Credential Verification, Evaluation and Transfers. <o:p></o:p>

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Stay tuned!!<o:p></o:p>

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