TrustED - The Academic Credential Verification on Blockchain

wbasket (-1)(1)in #blockchain • 6 years ago

INTRODUCTION

Cryptocurrencies are digital monetary units that operate independently of a central bank and is permission-less to use. Its transaction information, usually stored on a general ledger, is open and available for system participants to view. Additionally, cryptocurrencies generally do not appeal to authorities such as central banks, tax authorities, or judicial systems. This means that, generally, these entities cannot influence transactions of participants in the cryptocurrency payment system.

Furthermore, cryptocurrency transfer is irreversible; third-party entities cannot cancel, block, dispute or carry out a transaction unilaterally. Consensus rules and encryption techniques are used to regulate the generation and issuance of cryptocurrencies.

As more technological advancements are uncovered, TrustED, an academic credential verification service, that brings honesty, legitimacy, and convenience to the human resources industry came on board.

The TrustED platform helps overcome the currently dysfunctional system by enabling academic institutions to store credentials and certifications on a distributed global ledger, rather than centralized databases.
Employers can validate credentials of prospective employees without requiring third parties, or a lengthy process.

TrustED will invite credential issuing authorities, like academicinstitutions, to participate on the platform and issue credentials for their graduates in digital form through the TrustED platform

Credential holders and graduates will be able to create an account on the TrustED platform and have access to their verified credentials at all times.

Overview of TrustED

TrustED is an academic credential verification service, that brings honesty, legitimacy, and convenience to the human resources industry. The TrustED infrastructure enables universities, and online education and training Institutions to store, as well as authenticate grades, credentials, or certificates, leveraging the distributed ledger technology of blockchain. Permissioned parties will have the ability to confidently verify academic credentials of an individual through the TrustED platform, bringing an end to existing lengthy, expensive and manual processes.

The TrustED concept was conceived in 2017 in Adelaide, Australia when founder Kosta Batzavalis was put under the burden of having to find the paper copies of his academic credentials he received several years ago and present them to potential employers. From here on in, the concept of digitalizing academic credentials become apparent, and through innovative blockchain technology the TrustED concept poised to revolutionize the way we receive, share and verify our academic credentials. TrustED expanded significantly in the first 6 months, partnering with Californias NetObjex and Dubai’s BlockGemini to produce an all in one solution which enables academic institutions to store and issue academic credentials, students to digitally hold and share their academic credentials, and employers and other verifying third parties to instantly verify ones academic credentials.

Find below a Video presentation on TrustED

Why use TrustED?

If an institution shuts down or ceases operations due to wars or other calamities, the academic records of students are still accessible and verifiable.

Potential system downtime, or server issues with the current system will no longer be an issue.

24x7x365 accessibility to view and verify academic credentials.

Impossible to now fake certificates/diplomas.

Easy to use mobile application for verifiers to verify academic credentials.

The TrustED Token (TED)

The expression “ICO” remains for ‘Introductory Coin Offering’. This is designed according to the familiar securities exchange term ‘Initial public offering’, which remains for ‘First sale of stock’ and is utilized to signify the launch of an organization’s offers on the stock exchange when they are initially accessible to the general population.
ICO reserves are mostly in Ether (ETH). The project makes an Ethereum address for getting funds and shows it on a page. This resembles opening a bank account and showing it on a website page for individuals to send cash to. Investors send ETH to the published address, in exchange for the new tokens. As a result, there is an alternative term ‘INITIAL TOKEN OFFERING (ITO)’

For managing payments and receipts on the TrustED platform, the Ethereum mainnet provides a suitable solution. The TrustED Token (TED) will be based on the ERC20 standard. The motive behind utilizing this standard is due to its wide acceptance and interoperability as well as its ability to easily be implemented into other services. In order to minimize the high transaction fees and avoid the low throughput of the Ethereum network, the TrustED platform accounts for all transactions within the system using a utility token TCRD (TrustED Credits) that is hosted on TrustEDs private blockchain network. This yields significantly lower transaction fees and higher scalability of operations within the TrustED network.

ITO Details

Token Name :TED

Token Type : ERC20

Total Token Supply : 1,720,000,000.00 TED

ITO Token Supply 1,204,000,000.00 TED

ITO Duration Q1 2019

Soft Cap :$11,000,000

Hard Cap :$21,070,000

Price for one token : $0.02

ITO min purchase US$10

Private Pre-Sale Oct 1, 2018 — Jan 20, 2019

ITO Jan 20, 2019 — Mar 20, 2019

ITO Token Sale

20 % Bonus Round 301,000,000.00 TED

15% Bonus Round 301,000,000.00 TED

10 % Bonus Round 301,000,000.00 TED

5% Bonus Round 301,000,000.00 TED

Distribution of Tokens

*RoadMap

Q2 2017 – TrustED Concept Formed

Q2 2017 – Outline development & business outlook

Q3 2017 – Assemble team of University, blockchain & crypto experts

Q3 2017 – Discuss and Innovate on how to develop TrustED with experts from Academic Institutions

Q4 2017 – Begin development of the TrustED Proof of Concept

Q1 2018 – Further expand and network with Academic Institutions and potential users. On boarding our first 2 academic institutions to run the TrustED Proof of Concept

Q2 2018 – Final adjustments to The TrustED Proof of Concept

Q3 2018 – Initial trial phases of The TrustED Proof of Concept (On boarded academic institutions trial The TrustED protocol proof of concept)

Q4 2018 – Further expand and propose the TrustED protocol to academic institutions.

Q4 2018 – TrustED Private Pre-Sale

Q1 2019 – TrustED Public ITO

Q1 2019 – Begin incorporating The TrustED Proof of Concept into Mainnet for institutions.

Q1 2019 – Release first version of TrustED Quarterly Update, outlining the technical development progress, business progress and up and coming events.

Q2 2019 – Expansion and On-boarding Users and Institutions. Specifically targeting European, Asian, Australian and US institutions.

Q2 2019 – Release second version of TrustED Quarterly Update, outlining the technical development progress, business progress and up and coming events.

Q3 2019 – TrustED Mainnet Released to Public.

Q3 2019 + BEYOND – Geographical expansion and strategic marketing to grow the ecosystem + On-going TrustED Quarterly Updates.

THE TEAM