What is the technology behind your platform for secure, tamper-proof digital documents?
LegitDoc makes use of both permissioned blockchain networks (Eg: Hyperledger Fabric) as well as permissionless blockchain networks ( Eg: Ethereum and Polygon) technology to render security and tamper-proofness to digital documents.
LegitDoc is an Ethereum-based software application for issuing and verifying tamper-proof digital documents. It uses a patent-filed, blockchain-based system that makes it free from any kind of central failure, security lapses, and budget constraints. Documents issued by LegitDoc can be verified from anywhere around the world, in just a matter of 10 seconds. It reduces human intervention, ease of accessibility and cost-effectiveness.
What is the nature of your partnership with Maharashtra State Board of Skill Development (MSBSD)? Why is it such a key technology milestone in Indian education?
We had received a work order from the Government of Maharashtra as a winner of Maharashtra Startup week challenge 2020 to implement blockchain based digital certification system for Maharashtra State Board of Skill Development (MSBSD).
Our implementation with MSBSD is a key technology milestone in Indian education. Blockchain-based, tamper-proof, instantly verifiable certificates are becoming a norm across the developed countries due their superiority over paper certificates and traditional digital solution based educational certificates (Eg: Digi-Locker, NAD). Top Ivy league colleges like MIT have switched to blockchain based digital diplomas for their graduates. Global governments which are at the top of the global innovation index such as Singapore, Malta and Bahrain have come up with their own blockchain standards for education certificates such as OpenCerts and Blockcerts, and have made successful implementation of the same. With the LegitDoc implementation, India too has come on par with these advanced countries in successfully implementing such disruptive technology for the education sector. LegitDoc implementation makes India the 4th country to achieve this feat behind Malta, Singapore and Bahrain.
Are you really implementing the world’s largest blockchain-powered educational credential system?
Yes, we have already successfully issued nearly one million digital diploma certificates to the students of MSBSD making it the largest implementation in the world for blockchain based education certificates surpassing Malta, Singapore and Bahrain.
In which ways can blockchain revolutionise India’s education sector? Where do you foresee the maximum implementation?
There are mainly three avenues where blockchain can revolutionise the Indian education sector:
– Blockchain-based tamper-proof digital education certificates can solve the menace of forgery of documents by making the entire process of verification immutable and instantaneous.
– Using the concept of social tokens backed by blockchain technology, students across India can self-fund their higher studies, projects etc.
– Web3 i.e., Blockchain based suite of technologies is said to be the internet of value. Web 3 is already a US$ 2 trillion industry and has created a parallel financial system. Web3 is witnessing a faster adoption rate than the internet and is environed to evolve into a US$ 200 to US$ 300 trillion industry in the next 10 years. Even though India missed the bus on the internet, leveraging and building Web3 based open technologies can generate millions of highly paid jobs and wealth in India , which the education sector can be a huge beneficiary of.
What are Legitdoc’s strategic plans for the future in the education sector?
– LegitDoc aims to onboard several private and public education bodies, government departments in India and abroad in the education sector.
– Develop an on-chain based social token infrastructure of Indian students that could aid the student community to self-fund their studies.
Which countries are you looking at for your global projects, and which sectors?
We are looking at GCC, South African and North African countries for global projects in the domain of Education, Banking, Governance, Healthcare, Quality Assurance and Trade certification.
Any other significant factor?
LegitDoc is now in talks with four other state boards, a local body, and a Navratna public sector company to implement a similar document issuance and verification system on blockchain.