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University College London finds Solution for CV Frauds with Bitcoin verification

Jan 29, 2018 Posted /  5262 Views

University College London finds Solution for CV  Frauds with Bitcoin verification

You might have witnessed several cases when a more professional and capable person lost job title to someone who faked his professional positions and deliberated a better academic record rather in reality that person was not really worthy. This happens a great number of times and probably you might have also gone through this once in time. In fact, the practice is more prevalent in those parts of the world, where proper document validation is way more costly. Nonetheless, Bitcoin is now providing solutions for this kind of frauds and making sure such practices do not happen in future. There is going to be Bitcoin-based CV Verification which will ensure there is no swindle in the coming times.

Now Bitcoin will verify your records

The Centre for Blockchain Technologies at University College London (UCL) has proclaimed that it concluded a pilot program in which MSc graduates in Financial Risk Management could offer immediate validation of their academic records with the help of bitcoin. A start-up named as Gradbase facilitated in the completion of this project. In the program, all graduates from the year 2016 and 2017 were asked to register their degree information on the platform developed by Gradbase and the school verified the data.

It happened as the school validated the information, the system issued a transaction which verified and authenticated the degrees through bitcoin. All the participants in this project were given a QR code which they can place on their resumes, business cards, or any professional profiles through which any employer can scan their credentials.

The company’s co-founder, Cédric Colle, explained: “Academic fraud is a global issue which needs a global solution. The ambition of Gradbase is to become the first platform for easily and trustworthily verifying any qualification around the world.”

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It is noteworthy that University College London was founded in the year 1826 in the core of Britain’s capital city, London and id the third largest university in the UK in terms of total enrolment and by far the biggest akin to postgraduate enrolment. The university is quite popular and is rated among best in the country with roughly 38,000 students from 150 diverse countries as well as more than 11,000 staff.

The UCL's Centre for Blockchain Technologies (CBT) works as an academic interdisciplinary research centre for bitcoin and associated innovations, as well as a philosopher correlating developers and regulators. It presents consultancy aids to industry segments, intellect-transfer ventures and in-house solutions.

“We are very excited to have collaborated with Gradbase on a pilot which is a UK first. The UCL CBT is playing a leading role in enabling the use of Blockchain technology in the education sector, and we believe that, in the future, such technology will become mainstream,” said Paolo Tasca, Executive Director of UCL CBT.

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