The use of cryptocurrencies and blockchain technology has become common practice in a number of countries, albeit in a small capacity. It was a slow start to decentralized technology, but 2020 seems to have brought massive changes to space.
According to legitimate sources, it has been confirmed that the country of Georgia is planning to adopt Cardano for storing and verifying educational credentials.
Local newspapers reported that Charles Hoskinson led IOHK, the Georgian Ministry of Education and the Free University, and the Business and Technology University of Tbilisi had jointly signed a Memorandum of Understanding [MoU]. The three organizations will work in tandem to help Georgia create the world’s first credential verification system in the field education.
Reports said that IOHK’s Cardano will allow Georgian schools and universities to store their data on the blockchain. The system is designed in such a way that clients can confidently access a student’s academic qualifications. Additional features include the authentication of the mark and the credibility stamp.George Shekriladze, the Georgian IOHK representative said:
“Today we use centralised data systems. What does that mean? Any digital data is stored in any specific server, or cloud, or someone’s computer …. Different from this, blockchain (which is also called DLT ‘distributed ledger technology’) enables us to save data not only in one localised place but in several places.”
IOHK added that using blockchain technology, data could not be deleted. This was important in a sector where student data was of paramount importance. Students will be provided with a secure network to preserve, share and access their academic qualifications. The Cardano-backed system will also comply with the General Data Protection Regulation [GDPR].
Georgia was selected to be a base for Cardano because of its open legislation and leaders who are conducive to new technology. This adoption makes Georgia the first country in the world to use blockchain technology in the state sector. Cardano has been scanning multiple regions in the European Union out of which Georgia came out as the winner.
At the time of writing, Cardano claimed that the alpha version was ready and the Ministry of Education was in the process of integrating it into various departments. Data about diplomas and certificates are also stored on the MoE’s server, which will be copied to the blockchain system. Georgia also revealed that they were not footing the bill on the project with IOHK aiming to launch as soon as possible.
IOHK also plans to support new businesses in fintech as well as provide aid for supply chain implementations. Apart from this, the company will integrate smart contract functionality into the Georgian government.