South Korea-based University of Science and Technology (POSTECH) will begin issuing diplomas stored on the blockchain, local news outlet MBN has learned.
The blockchain for diplomas is reportedly developed by the South Korean well-known blockchain provider ICONLOOP. It is expected that on February 7, over 800 POSTECH graduates will receive their blockchain-based diplomas. The diplomas are digitalized thanks to the blockchain-based certification service "broof," developed by ICONLOOP.
The decision to use blockchain technology is linked to the recent outbreak of coronavirus, which has already infected all of China.
"Due to the new coronavirus, it is impossible to hold a graduation ceremony. From now on, even if students does not visit the school to receive the diploma, they can get an online digital degree secured by the blockchain technology," a POSTECH official told MBN.
Earlier iHodl reported that ICONLOOP (ICX) signed a strategic Memorandum of Understanding (MOU) with Korea Productivity Center (KPC), the first educational consulting firm in Korea, to build a blockchain-based industrial ecosystem.
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