A state university in Russia has announced that it will store diploma records using blockchain technology, the institution announced in an official statement June 26.
According to the statement and a tweet from the Financial University under the Government of the Russian Federation, the institution has recorded “all diplomas issued over the past ten years” using distributed ledger technology. The reported goal of the move is so that starting September 2018, potential employers will be able to check the authenticity of any digital diplomas on the university’s website.
According to the statement, all diplomas have acquired unique identificators encrypted with the SHA-256 algorithm, a Secure Hash Algorithm that serves as a base for Bitcoin’s (BTC) network’s proof-of-work (PoW) algorithm.