Next Generation Credentials Platform with Blockchain

Developing a Next-Generation Credentials Platform, Ernesto.AI provides new educational experiences that stimulate learners’ curiosity. We’ve identified the need to create a more comprehensive, open, and trusted system for recording the education and training credentials of US citizens and across the globe.

Our system accurately records how individuals perform in academic and training settings and then controls access to this information. This gives businesses and educational institutions a more complete picture of candidates’ backgrounds and help them pick the most qualified individual for each project, job opportunity and program admission.

The Benefits of Utilizing a Credentials Platform with Blockchain

The goal of Ernesto.AI is to secure the authenticity of transcripts and allow them to be safely shared within a trusted network. We’re looking ahead at the next decade and creating a system that can improve education and training by basing improvements on comprehensive and trustworthy data.

1. Greater Transparency

Transaction histories are becoming more transparent through the use of blockchain technology. As blockchain is a type of distributed ledger, all learners are network participants and share the same documentation as opposed to individual copies. That shared version can only be updated through consensus, meaning everyone must agree on it. To change a single transaction record would require the alteration of all subsequent records and the collusion of the entire network. Thus, data on a blockchain is more accurate, consistent and transparent than when it is pushed through paper-heavy processes. It is also available to all participants who have permissioned access.

2. Enhanced Security

There are several ways blockchain is more secure than other record-keeping systems. Transactions must be agreed upon before they are recorded. After a transaction is approved, it is encrypted and linked to the previous transaction. This, along with the fact that information is stored across a network of computers instead of on a single server, makes it very difficult for hackers to compromise the transaction data.

3. Improved Traceability

If your company deals with products that are traded through a complex supply chain, you’re familiar with how hard it can be to trace an item back to its origin. When exchanges of goods are recorded on a blockchain, you end up with an audit trail that shows where an asset came from and every stop it made on its journey. This historical transaction data can help to verify the authenticity of assets and prevent fraud.

4. Increased Efficiency and Speed

When you use traditional, paper-heavy processes, trading anything is a time-consuming process that is prone to human error and often requires third-party mediation. By streamlining and automating these processes with blockchain, transactions can be completed faster and more efficiently. Since record-keeping is performed using a single digital ledger that is shared among participants, you don’t have to reconcile multiple ledgers and you end up with less clutter.

5. Reduced Costs

For most businesses, reducing costs is a priority. With blockchain, you don’t need as many third parties or middlemen to make guarantees because it doesn’t matter if you can trust your trading partner. Instead, you just have to trust the data on the blockchain. You also won’t have to review so much documentation to complete a trade because everyone will have permissioned access to a single, immutable version.