Russia: Financial University to Store Diplomas via Blockchain
A state university in Russia has announced that it will store diploma records using blockchain technology, the institution announced in an official statement June 26.
According to the statement and a tweet from the Financial University under the Government of the Russian Federation, the institution has recorded âall diplomas issued over the past ten yearsâ using distributed ledger technology. The reported goal of the move is so that starting September 2018, potential employers will be able to check the authenticity of any digital diplomas on the universityâs website.
According to the statement, all diplomas have acquired unique identificators encrypted with the SHA-256 algorithm, a Secure Hash Algorithm that serves as a base for Bitcoinâs (BTC) networkâs proof-of-work (PoW) algorithm.
The Moscow-based Financial University, ranked 5th among the âstrong estâ universities in Russia, is reportedly the first higher education institution in the country to provide publicly encrypted digital diplomas using blockchain technology.
In October 2017, the Massachusetts Institute of Technology (MIT) became the first university in the world to provide digital diplomas using blockchain.
The Russian government is set to soon pass its major crypto and blockchain-related bill, âOn Digital Financial Assetsâ on July 1. In late May, Russiaâs parliament, the State Duma, unanimously approved the first of three readings on upcoming crypto regulations that define cryptocurrencies and tokens as property, and provide general instructions for dealing with crypto and its underlying technology, blockchain.Source: Google News Russia | Netizen 24 Russ ia