Singapore Startup to Eliminate Fake Degrees with Blockchain

Asia Blockchain Review
September 29, 2019

Singapore-based startup Review Revise Renew Pte. Ltd. (RRR) has announced plans to create a platform that will reportedly connect “government accredited schools, students and hiring companies” over blockchain, combating the increasingly prevalent problem of fake degrees and diploma mills. 

Fake Degrees Complicate Hiring Process 

According to a report by Accesswire Singapore, RRR Founder Dennis Ba said that both the government and private sectors are facing difficulties in verifying the authenticity of degrees and certifications submitted by jobseekers, which has led to positions being filled by unqualified personnel. 

Even when the degrees are authentic, Ba stated that many certifications can be easily bought from private schools without completing the necessary coursework, with some ‘graduates’ not attending any classes.

Academic Records Made Accessible over Blockchain Platform 

RRR said the problem could be solved by creating an ecosystem linking together government-accredited schools, students, and companies. The platform it is developing will record academic activities on the blockchain, including attendance, grades, projects, and tasks.

Information stored on the blockchain platform would be immutable, meaning it cannot be altered after the fact. Companies would rely on RRR’s application to access a prospective employee’s academic records and verify his/her qualifications. 

RRR began operating in 2018 as a blockchain education provider, subsequently certified by the Singapore Workforce Skills Qualifications (WSQ) agency. The firm has plans to issue a native token, TREC, to be listed on a number of leading exchanges, including QB.com.

Source: https://finance.yahoo.com/news/ 


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