R3D Global (ASX: R3D) is hoping to spread the application of blockchain technology in the Philippines.
Recall that blockchain, which is more widely known as the engine on which digital money runs, particularly cryptocurrency most popular of which is Bitcoin, came to being just over a decade ago through a man or group of persons named Satoshi Nakamoto.
But blockchain, according to Computer World (www.computerworld.com) only “began to emerge as a real-world tech option in 2016 and 2017…(and) is poised to change IT in much the same way open-source software did a quarter century ago.”
Computer World defines blockchain as “a distributed ledger technology (DLT) that allows data to be stored on thousands of servers — while letting anyone on the network see everyone else’s entries in near real-time).
In the Philippines, a few organizations have already started developing applications for blockchain, one of them for Sovereign ID.
There’s also the Blockchain Association of the Philippines (BAP), which is trying to introduce the technology to a wider audience. But much still has to be done to make the technology widely used and applied.
Then there is R3D Global, an Australia-based investor relations company, and a proponent of blockchain technology, including for the education sector.
The company has recently introduced DigiCerts ™ which it described as a revolutionary, next generation blockchain-based universal certification platform.
R3D Global is also promoting a new pilot program for issuing educational certificates to graduates on the blockchain network. Among the first institutions to onboard the program are De La Salle University (DSLU) Animo Labs Foundation Inc., Siliman University (SU), Samar State University (SSU), and the University of Southeastern Philippines (USeP)
DigiCerts™ is the latest technology project embraced by R3D Global. It utilizes a blockchain technology protocol, which is a secure and tamper-resistant platform.
Users of DigiCerts™ are given ownership of their digital assets and will be able to share directly with anyone who requires access. The system replaces traditional paper-based certificates, providing security, permanence and accessibility while abating potential fraud cases.
“DigiCerts™ will allow educational institutions to issue digital certificates as proof of achievement or completion. We are excited to cater Digicerts™ in the Philippines and add value to the global certificate issuance process for the universities and their students,” said Florence Fang, CEO of R3D Global.
“The EduTech market is a huge opportunity with over 2,300 university and colleges in the Philippines alone,” she added. Educational fraud is prevalent and one in four resumes contain inaccuracies about educational background.
She added the global upsurge of educational fraud threatens to devalue higher education and undermines academic integrity whilst harming institutional reputations. DigiCerts™ fosters security and trust without the need for an intermediary to validate transactions in the education sector. At the same time, it transforms job applications as DigiCerts™ allows employers to check on a new hire’s credentials through a secure registry of academic qualifications.
“The certificate that the University issues is proof of a student’s award and is a unique and valuable document. Every year, especially during the graduation period, the amount of time spent on preparing certificates and transcripts is laborious. Furthermore, requests for R3D Global Limited replacement certificates and transcripts can only be issued if the original certificate has been lost or damaged, and the University reserves the right not to issue a duplicate. Certificates are signed individually by an official in the University,” said Dean Meddy Mangaring, of the College of Engineering of Samar State University.
“With DigiCerts™ in place, we look forward to labor-savings and a fast, efficient and secure way to issue certificates that are the most valuable to a graduate,” he added. (R3D Global)