University of Basel Starts Blockchain Based Diploma Courses

The interest towards cryptocurrencies and blockchain has been reaching new heights. In the wake of this, certain universities are now materializing the interest by introducing Crypto and blockchain based courses. Last month, the Brazilian foundation Getulio Vargas (FGV) had created the first master’s degree in crypto finances at Major Brazilian university

Now the blockchain innovator Proxeus, with the help of its partners has partnered up with the University of Basel’s Center for Innovative Finance (CIF) by creating certificate courses in Blockchain and registering them on block chain. This will drastically reduce the processing time for the documents, keeping the University of Basel as the first in Switzerland to issue blockchain-based diplomas.

This registration would also aid in easy verification of certificates along with causing no damage to the certificates, ensuring authenticity and resulting in zero cases of fraud., Dr. Fabian Schär, Managing Director at the CIF, said

“Fraud is a problem in academia just as it is in any field,” Schär said. “By securing credentials on the Blockchain, we provide an extra layer of security for graduates and potential employers. These credentials can’t be faked, and can be easily verified online. It will introduce a new paradigm of security and offer value to all parties – employers don’t lose time checking credentials, graduates have an edge, and the institutions themselves reduce their reputational risk and a significant administrative burden.”

Not just this, but Proxeus has been actively working on similar solutions for different applications. In partnership with IBM and other companies, Proxeus is also working on speeding up legal registry of Swiss business, where they were successfully able to cut processing down from four to six weeks to less than three hours.

In fact, they say that in their test run, they were able to pull it off in only one hour and 37 minutes. Unsurprisingly, they nabbed the 2018 Swiss Fintech Award as the Early Stage Start-up of the Year.

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