Malta has been dubbed the blockchain island with good reason. The island is one of the most blockchain-centric islands in the world. The goal has always been to promote the development of blockchain technology in Malta and make it the first stop for blockchain businesses. The good thing about Malta is that it isn’t just creating an environment for external businesses to thrive, it is also using the technology to improve the quality of life of its citizens. The most recent move by the island was the launch of a system that stores education certificates on the blockchain.
Malta Launches System That Stores Education Certificates On a Blockchain
According to a major news outlet in Malta MaltaToday, the island has decided to store all educational certificates on a blockchain. This is one part of a two-year-old initiative to include school certificates on the blockchain. All national, independent and church schools will have their state-issued certificates posted on the blockchain. The Maltese government is doing this in collaboration with Learning Machine, a software company.
At Castille, during the signing ceremony, Joseph Muscat, the Prime Minister of Malta said that Malta is going to be the first country in the world to post all education certificates on a blockchain. He also made reference to the prediction that Malta will become a blockchain Island in 2017. In his words:
“We said that Malta is going to become a blockchain island in 2017 and it did.”
This isn’t the only move the Maltese government is making in the blockchain space. Last July, the lawmakers passed many bills that were all aimed at creating a good regulatory framework for the cryptocurrency and blockchain industry. This provided legal certainty for all businesses related to cryptocurrencies and blockchain technology. One of the executives of the Ministry of Financial Services, Innovation and the Digital Economy, Silvio Schembri, said the bills will regulate the technology in the island. In his words:
“All three bills are going to regulate DLT and they have been approved by the nation’s Parliament. They have been enacted into law. Malta, is the first wield jurisdiction to offer clear legal terms in the blockchain space.”
Malta Isn’t The First To Store Education Certificates On A Blockchain
While the Maltese government is the first to store all state issued education certificates on a blockchain, it isn’t the first to integrate blockchain technology in the educational sector.
Last month, the University of Bahrain announced that it would be issuing diplomas via blockchain technology. This is part of the university’s blockchain initiative and digitization strategy that will promote mobile learning.
In 2017, the Massachusetts Institute of Technology (MIT) issued digital certificates to using a blockchain-based system to more than 100 graduates. These certificates were issued through an app that allows graduates to share verifiable, tamper-proof digital versions of their certificates with third parties.
In the year 2016, Kanya started using IBM’s blockchain technology to manage it education system making it more transparent and immutable.
Do you think issuing education certificates on a blockchain is a smart move? Are there any key benefits of this move? Share your thoughts in the comment section.