Japanese company uses blockchain for virtual diplomas

Japanese company uses blockchain for virtual diplomas

A company in Japan is now giving graduating students the ability to receive their diploma on the blockchain.

The company in question is called LasTrust Inc., and it is using the CloudCerts platform to provide digital graduation certificates.

 

Virtual diplomas on the blockchain

The diplomas issued will feature the electronic signature of the individual educational institution that the student graduated from. The decentralized ledger ensures the authenticity of the original document, and students can enjoy the benefit of being able to submit their virtual diploma to online recruitment agencies when applying for a job.

Another tangible benefit of using blockchain technology in handling diplomas is that it reduces the need for face-to-face-contact during the ongoing COVID-19 outbreak.

The Japanese platform adheres to the global Blockcerts standard. This standard is also used for virtual diplomas issued by Harvard and MIT in the United States.

Japanese company uses blockchain for virtual diplomas

Marching onward

The use of blockchain technology by businesses, schools, and governments continues to increase. A number of areas in Japan are now using decentralized ledger technology to issue gift certificates.

 

Government-issued treasury bonds are now being issued via a blockchain-powered mobile app called Bonds.PH in the Philippines via a partnership between UnionBank, the Philippine Bureau of the Treasury, and the Philippine Digital Asset Exchange.

UnionBank CEO Edwin R. Bautista says the app is Asia’s “first retail treasury bond issuance to leverage on blockchain technology.”

Rosalia V. De Leon, National Treasurer of the Philippines, says, “The launch of Bonds.PH paves the way for all Filipinos, particularly the unbanked, to easily and affordably invest in the BTr’s newest retail treasury bond, RTB-24.”

The use of the mobile app for distributing bonds is important as it is estimated that a full 72% of the people in the Philippines do not have a bank account.

The creation of cryptocurrency, along with its underlying blockchain technology, is having a profound impact on the world. Even if people are not using virtual currencies, the reality is that distributed ledger technology and mobile technology are working together to provide new economic opportunities for millions of people all over the world.

Images courtesy of McElspeth, Olya Adamovich/Pixabay

Micky is a news site and does not provide trading, investing, or other financial advice. By using this website, you affirm that you have read and agree to abide by our Terms and Conditions.
Micky readers - you can get a 10% discount on trading fees on FTX and Binance when you sign up using the links above.