Blockchain enters into Academics!

BSV Global Blockchain Convention sets a new paradigm — it witnessed over 1000 attendees from the novel and regional fanbase. The first day was entitled “Academic Accreditation & Certification on the BSV Blockchain” by Dr. Mohamed Al Hemairy, the Head of Technology Transfer Office at the University of Sharjah.

Dr. Al Hemairy states that fake certificates and degrees were unnoticed largely in the world — by choice and by fault. A report in New York Times in 2015 states the worth of fake academic certificates market reported $1 billion and growing.

Problems and Solution

There are distinct issues are surrounded the academic certificates. The verification process is quite complicated while forging and digital certificate manipulation become common. According to Dr. Al Hemairy, there are 2 million fake degrees in circulation in the United States, in addition to more than 300 unauthorized universities.

At the same time, there are over 200 unauthorized institutes in the United Kingdom. To curb the malpractice, the United Arab Emirates government announced a new law in 2021 imposing a penalty worth up to AED1 million (US$2.7 million) and up to two years in jail for using and issuing the fake certificates in the country.

The University of Sharjah is working to get rid of this issue by collaborating with BSV Blockchain Association. A process is going on to eliminate the unethical practice by issuing and verifying the documents through BSV Blockchain. Dr. Al Hemairy further added in the statement that “The feature of immutability, decentralization, is used to verify the academic certificates at a very low cost.

We are using BSV for a number of open-source web development tools, and the reason we selected BSV is because of the largest block size in addition to the highest number of transactions per second. More so, the cost of each transaction is very low.”

Source: Coingreek

Originally published at https://www.linkedin.com.