Verifiable Credentials on the Blockchain


Blockchain is a kind of a database that provides the potentiality to surmount bitcoin, the banking sector, credit cards, manufacturing industries and so on. A while back, this term “Blockchain” created a buzz in the market industry. You might be aware that this term came into existence when the cryptocurrency Bitcoin was introduced. This disruptive technology also acts as a register and has the potential to store databases or any information that is immutable. Well, a lot of smart financial people and other tech professionals are looking to implement this technology.

The blockchain technology first appeared in 2008 when a paper was published under a pen name Satoshi Nakamoto. The paper entitled as, “Bitcoin: A Peer-to-Peer Electronic Cash System,” described cryptocurrency called Bitcoin. This paper also speaks of how a new type of database was defined to store the Bitcoins transaction. The database was called – Blockchain.

The database allows many transactions to be done which further stored in blocks. Once the information or data is stored, using cryptography it is signed. The signed signature then generates a unique signature called hash. If another information is to be added in the database, an additional block gets added and the process follows likewise.

Evolution provides a strong testament to the fact that with changing times and changing market scenario, every skill-set or technology has merged as a credible career option. Also, there is a lot of hype about cryptocurrencies, the industry’s favorite topics include Ethereum or Bitcoin. There are some major trends that individuals are following to stay abreast and enter the blockchain space. To the same end, earning a verifiable certification can pose as one of the most disruptive career options today.

Figure out what you need to learn and then research on blockchain credentials. Earning a credible certification puts your onus of finding a job sooner than expected. The trail of credentials and achievements that we earn in life is proof of who we are. In return, this can open doors for potential employers looking to hire the relevant candidate with the right set of skills.

Not to forget, with the emergence of blockchain technology, there has been a rise in digital academic credentials as well.

What are verifiable credentials? Why we need them?

These credentials allow any verifier to verify the authenticity of the credentials. At present, it is difficult to express your qualifications, achievements, financial account details, university degrees, driver’s license and much other information at one go. These credentials serve as a good asset in the physical world, however, in the online tech space, it remains elusive.

Such specifications provide a standard way to express credentials online in a manner that is secured, maintains privacy, and that is machine verifiable

The blockchain credentials should consist of the information related to the subject, information regarding the issuer and the authority, related to specific attributes, a piece of evidence how the credential was obtained, and the expiration dates.

The growing lack of skilled professionals in blockchain is a concern. A report says that at the end of 2017, the growth of blockchain engineers grew to 400%. There’s a huge deficit for talent on blockchain technology. Even software engineers are short in supply, but demand for professionals in this new technology is acute. The demand just got bigger after tech giants like Facebook, Amazon, Microsoft, etc. started implementing these technologies in the development. In short, there’s a dearth of talent for professionals in blockchain technology, and the best ways to enter the market is by taking up blockchain credentialing. There are certain online providers with blockchain credentialing that comply with the Open Badges and Blockcerts standards. While performing a digital badging function, these providers decentralized systems do not have a central point for any kind of failure, hence, enhancing their security system.

At present, there are near about 2000 blockchain professionals in NFBCs and 2400 in the public-sector organizations. The report is of India, nonetheless, shortage of skilled talents is for real and can turn bad. There is a hope that with emerging online certification programs and training institutes, the industry will figure out a way to balance the talent gap and shortage of skills.

If you want to excel career in blockchain, you will need to keep up with the skills and ensure they’re upgraded.

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