Fraudulent credentials are a global problem that costs billions of dollars each year. The intense competition in the job market is a major driver of this problem, as individuals are motivated to enhance their qualifications or obtain specific certifications to stand out from other candidates.
Blockchain technology has the potential to revolutionize the way that skill credentials are verified, making the process more secure, efficient, transparent, and cost-effective. This could help to protect the public, businesses, and individuals from financial losses due to skill-role mismatch and employee incompetence. It could also help organizations to comply with regulations. Currently, verifying credentials is a long and costly process. Blockchain could help to streamline this process and make it more accessible to everyone.
Infosys Blockchain has come up with a robust offering to address this challenge – the Infosys Blockchain Skills Verification Solution. This solution is powered by blockchain technology and provides transparency in the independent verification process of badges and certification credentials for job seekers.
We have implemented the Blockchain Skills Verification Solution in the Infosys Wingspan platform. This solution allows companies and individuals to verify the credentials of badges and certifications independently. With this solution, holders have complete control over their credentials. Learners can share a badge with their employer or client, who can then verify it on the Verification Portal without needing any additional information.
