Press release. Long queues and ten euro stamp fees: The authenticity check and certification of a certificate cost time, money and nerves – for the applicant but also for examiners and issuers of certificates such as citizen offices or universities. They must also regularly fight against forged evidence and the associated reputational damage. On the other hand, the recipients do not have full control over the diplomas and credentials obtained.
That is why the Frankfurt School of Finance & Management is the first university in Germany to award certificates for a course of study at Blockchain in August. With this new technology, forgery-proof certificates and certificates can be issued and made permanently available without restriction – and in compliance with data protection.
The Economics University is working with Consensys, one of Blockchain’s leading software companies, for the pilot project. Consensys has developed a decentralized app (DApp) for so-called self-sovereign identities: an identity created by the user that is stored on the blockchain and thus forgery-proof. Data and financial statements can then be managed centrally by the user. The loss and re-certification of credentials and certificates are a thing of the past.
The pilot project is headed by Veronika Kütt, a research associate at the Frankfurt School Blockchain Center.
“Blockchain-based certificates are fascinating. In the future, certificates or certificates can be displayed digitally. We are doing pioneering work here, “says Veronika Kütt. “Our students find it a privilege to be involved in a new technology so early on. It’s a bit like the programming of the first public Internet sites in the mid-’90s. “
Professor Philipp Sandner, head of the Frankfurt School Blockchain Center, adds:
“With the Blockchain you can safely store personal data such as a CV or identity card, just like in a picture book. With our project we show how easy and comfortable that can be for the user. “
The first students to receive a blockchain certificate from the Frankfurt School also dealt with future technology in their certificate course. The eleven students have completed the Certified Blockchain Expert course, which is part of the Business University’s continuing education program. The specialists and executives from the finance, IT or consulting industry developed basic knowledge and IT knowledge about various applications of blockchain technology in several block events. They can use what they have learned to harness the potential of the new technology for their companies.
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