If edtechs are planning to grow fast then they need to adapt digital credentials.
Well, to understand how, we need to understand what. So, Let’s understand Digital Credentials Digital credentials are digitally secured and encrypted versions of credentials. It means that before they are printed in any format, they are stored in digital ledgers & databases through various encryption methods.
For example, in blockchain-based digital credentials, the grades of a credential along with various details of the student are entered into the blocks along with time stamps.
At the end of a course, all these details are consolidated into one digital entry and it’s given a public and private key. Once a credential is established on the blockchain, all that an issuer needs to do is create a visual format of the credential.
This can be done in various ways such as pdf, XML, or any other protected format.
Now the student can share this visual copy of the credential with recruiters and other institutes who can verify their authenticity in a matter of minutes.
Even if the student loses the visual copy of the credential, they can share the public key address of their credential and all details can be retrieved from the blockchain database for verification. Applications such as TruScholar provide these verification options.
The best part about blockchain-powered digital credentials is that once they are established on the digital network, they can never be removed, tampered with, or manipulated.
They will remain secure forever and make it easier for issuance & verification for all the stakeholders involved.
How does this make a difference?
Currently, EdTech is on a growing trend. However, there is a lot of competition.
At the same time, there is an increase in the number of fake credentials in India.
Also, EdTech companies give out their certifications and credentials in pdf copies. The problem with this is that they can be easily manipulated or forged.
This will result in a lot of damage to the institute’s brand value over time.
So, in order to stay ahead of the competition, protect the value and increase brand awareness, edtechs need to adapt blockchain-based digital credentials immediately.
That’s the way ahead.
However, what kind of growth will edtechs experience because of this?
The Resultant Growth
Word of mouth is currently the most important way that edtechs gain prominence.
The moment an edtech starts providing robust digital credentials, the word of it will spread like wild fire and in a positive way.
Because, as mentioned earlier, digital credentials are futuristic, simple and easy to use. It makes the lives of students easier.
So, they will spread the word to near and dear.
Also, word of mouth is primary driver for EdTech adoption according to INC42’s latest edtech survey. At the same time, marketing and advertising efforts can now display the new advancement.
As a result, EdTech institutions will see a great growth in enrollments, onboarding, and graduates.
TruScholar To Enable the Growth
TruScholar is India’s first platform that is designed to address the credential issues of universities, institutions, and edtech companies across India.
We are on a mission to digitize credentials with blockchain technology and also remove fake credentials completely.
Our platform is revolutionary where we combine multiple technologies to create a user-friendly application. Institutions can use the web front to manage their operations and credentials. Students can use the mobile front to stay in touch with the institutes through the course and then access their digital credentials from the app.
It saves a lot of time and creates ease in operations. Students can then share these credentials at the click of a button to verifiers and recruiters.
Recruiters enter their email addresses and gain access to the digital credential.
That’s how simple and easy it is.
We can definitely show you how it works in reality. Schedule a free demo with us today.
Talk to you soon. Have a nice day!