Blockchain Technology – Decentralising Traditional Business Models

1

Let us go back a few years.

The Internet!

When the internet was born it proved to be disruptive, changing the way we work and communicate. Blurring barriers between the physical and digital worlds, it led to unseen possibilities. Establishing global connectivity, the internet provided access to information and social interaction. And, social media empowered people, giving equal opportunities to be heard and seen.

The next big wave – Blockchain technology

18 years later, Satoshi Nakamoto invented Blockchain in 2008. The idea was to create a public transaction ledger for the digital currency – bitcoin. This growing chain of blocks is distributed across a network. Every block is a record and each block is cryptographically linked to the previous one. A peer-to-peer network that records every transaction without allowing any modification to data.

Blockchain records transactions between two parties, in a verifiable and permanent way.

The arrival of Ethereum blockchain

Launched in 2015, Ethereum is an open platform that is accessible globally. It allows anyone to write code. This means software developers can build new applications on the platform.

A characteristic feature of Ethereum – decentralised applications.

A decentralised application is an application that is built and spread across the blockchain network. It is secure. As once it is uploaded to Ethereum, the code will run as programmed. And, no company or person can control it.

Taking advantage of this, many developers are building decentralised applications never seen before. And, we have done the same.

Blockchain Technology Decentralising Business ModelsSpotlight – Certif-ID

Certif-ID is a networking platform built using Ethereum blockchain. It connects stakeholders in the educational and professional landscape. The platform supports:

  • Encryption of data like credentials of a training institute, candidates and employers. Once encrypted, nobody can tamper with the data.
  • Training or educational institutes on the platform to issue course completion certificates. As the platform is based on blockchain technology, when an institute issues a digital certificate on it – it is unchangeable. This removes the possibility of fake certificates.
  • Working professionals to browse the platform and connect with educational institutes and employers. Without a doubt, individuals can trust the institutions on Certif-ID to be legitimate.

Also read: Blockchain technology: The hub that the Indian Edtech sector needs – Read more: https://www.nationalskillsnetwork.in/blockchain-technology-the-hub-that-the-indian-edtech-sector-needs/

Recruiters in quickly sifting through multiple resumes at a time. And, selecting candidates based on the skills required for the job. Not only can recruiters source for candidates based on skills required but they can also verify a candidate’s skills.

The platform is built to focus on skills development and mobility. Using skills as the primary field, we are driving lifelong learning. And, connecting individuals with global employment opportunities.

Certif-ID provides the missing ingredient: trust.

As digital certificates issued on the platform can be verified, a recruiter can trust the candidate. They can rest assured knowing that the certificate presented is authentic.

You can check out the Certif-ID platform, built on blockchain technology, here.

If you would like more information, please feel free to email us or book a demo.

1 Comment

  1. Pingback: Why Blockchain Technology is Crucial in Education 4.0?

Leave A Reply