It’s no secret that many countries around the world have their own cryptocurrency regulations, which has led to certain countries trying to seize on the opportunity by offering to provide a foundation for blockchain-based businesses. In fact, the entire Caribbean region has been a cryptocurrency haven, where the local economies are more concerned with innovation than regulation.
The Caribbean Examinations Council (CXC) will be issuing 24,000 blockchain-based certificates, or “Blockcerts”, for candidates who took examinations earlier this year. While the candidates will receive the traditional paper certificate, they will also receive their Blockcert through e-mail.
The candidates will receive their certificates through the Blockcerts organization, which markets itself as “the open standard for blockchain certificates”. Blockcerts was designed jointly by MIT’s Media Lab and Learning Machine, and empowers individuals to possess and take control of their own official records.
Natalie Smolenski, the business development vice president of Learning Machine, pointed out the convenience of the certificates, which can help both students and workers transition into new positions.
She stated specifically, “Having easily shareable, portable electronic credentials can speed up a verification process that usually takes weeks or months into a matter of seconds. This is a win/win for both issuing institutions and Caribbean citizens.”
This is actually not the first time that a country in the Caribbean region has utilized blockchain technology for academic certificates. That honor belongs to the Commonwealth of the Bahamas, which recently issued 78 blockchain-based certificates to students several months ago.
#TheBahamas has issued their first #blockchain certificates last month to all 78 students in their Mandatory Workforce Preparatory Programme graduating class which will be delivered under @the_IDB project as pre-#Apprenticeship! Read more about it here: https://t.co/wgGUAwZgyP pic.twitter.com/ce8nu8Eva3
— IDB Caribbean/Caribe (@IDB_Caribbean) August 3, 2018