PM Modi launches blockchain-based digital degrees at IIT Kanpur

Tags: National News

• The technology has been developed by IIT Kanpur under the National Blockchain Project.
• These digital degrees can be verified globally and are unforgeable.
• The blockchain system works on the principle of decentralization. This means that the control is not in the hands of a central agency, but in a distributed network of nodes. This will help in keeping the data safe even if any specific node is compromised.
• Also, the information in a blockchain is recorded and stored sequentially along with an exact timestamp. The previous information can’t be altered, only amended by adding a new block. This makes tampering with a transcript very hard.
• Blockchain technology can simplify the tedious task of maintaining the records of students by making them digitized. Also, the students will be able to access their records remotely.
• Blockchain technology will simplify the verification process. Any institute can do so with a few clicks instead of going through lots of paper documentation, in cases of transfer students, or sharing records with employers, or issuing degrees.