Everyone knows the role of quality education, specially the younger generation. The knowledge you receive today will translate into something bigger tomorrow once you know how to use the skill set, specially after you receive your degree from a premium university. However, the hurdles that stand in the way of securing education often go unaddressed, specially when it comes to the tuition fee, which even some of the most brightest students can’t afford.
To cater to this problem, Sernez.io, blockchain startup from Kochi, India is now supporting this cause by introducing the world’s first revolutionary peer-to-peer lending platform for education loans and scholarships.
Sernez is a NEM Blockchain powered peer-to-peer student education loan lending and scholarship platform. Sernez endeavours to provide most accessible and affordable educational loans based on the skill profile of the student rather than collateral.
Sernez.io co-founder Rahul R Pillai said,
“Sernez endeavours to provide the most accessible and affordable education loans based on the skill profile of the students rather than collateral security. It has been envisioned to help students achieve greater financial wellness. In this era of globalisation, where finance and talent acquisition are still not globalised, Sernez transcends geographical borders to democratise finance and opportunities for students all over the world,”
Sernez.io is now the first blockchain company in the world to implement a blockchain-based scholarship program in a live environment. The blockchain company has just signed a Memorandum of Understanding (MoU) with Saintgits Group of Institutions.
According to John Jacob, COO, of Saintgits Group of Institutions, implementing Sernez will help over 3,500 students in our institution gain access to scholarships from around the world on the blockchain and bring transparency and authenticity in the scholarship process by reducing human intervention through the use of “../what-are-smart-contracts/” target=”_blank” rel=”noopener noreferrer”>smart contracts.
The main objective of the collaboration with Saintgits is to implement scholarship programs and process them through a blockchain enabled platform. Through the platform, students can easily apply for various scholarships and are ranked eligible using its Student Performance Quotient (SPQ).
SPQ is a proprietary AI algorithm developed by Sernez which assigns a value to each student based on their academic and performance attributes.The first-of-its-kind initiative comes as a giant leap in integrating the education sector in India with the blockchain.
Source: News Indian Express
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Rohit Kukreja
Rohit Kukreja is a Commerce graduate with Financial Markets expertise involving Stocks, Forex, Futures & Options Market and now Bitcoins & Cryptocurrency Markets. Blockchain Enthusiast but not a techie, Rohit is an active member of various Blockchain & Crypto communities all over India.
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