02-09-2020 icon

South Korean University Avoids CoronaVirus; Issues Blockchain-Stored Diplomas

By Sagetwriter

The Pohang University of Science and Technology (POSTECH), South Korea is set to issue blockchain-stored diplomas to its new graduates.

According to the university, the current threat of the coronavirus makes it medically unsafe to have students travel and host a graduation ceremony under the same roof.

Rather than postpone the event, the school authorities have given students the option to get their diplomas online. Details say the new graduates will receive an email letter with a QR code linked to their blockchain-stored diploma.

An official of POSTECH explained:

“In the aftermath of the new corona (Wuhan Pneumonia), it is impossible to hold a graduation ceremony on time…Now, even if a student does not visit the school to receive the diploma, they can get an online digital degree secured by blockchain technology.” 

The initiative is made possible through a blockchain-based certification service called “Broof” owned by Korean firm ICONLOOP. The Broof service allows users to issue, manage and view online certificates via a public blockchain network.

POSTECH had previously used the Broof technology in June 2019, when it issued blockchain certificates to graduates of its blockchain CEO course.

Blockchain Technology and Cryptocurrency: The Healthy and Trusted Alternatives

In health emergencies such as those of the current coronavirus in China and other parts of the world, cryptocurrency and blockchain technology have further proved a healthy option.

Since cryptocurrency such as Bitcoin is peer to peer and digital, payments can be made instantly, anywhere across the globe. This is in contrast to cash which requires face to face transactions (hand to hand or breath contamination); and when it doesn’t require this, the issue of failed transactions with banks become an issue as banks close up during these times.

The crypto market is also a 24/7 industry unlike fiat, so payment and transfers in emergency or late hours are no problem at all.

For blockchain technology, use cases in issuing and verifying documents are increasing. In Malaysia, schools are issung certificates via blockchain meaning the certificates cannot be forged or altered. Also, recipients and employers can access the information via an encrypted path.

Are Bitcoin and blockchain technology the perfect health alternatives? Share in the comments.