Learning Machine, a company that aims to put diplomas on the blockchain, just secured $3 million in funding. The project works in partnership with the Massachusetts Institute of Technology. This fact played a decisive role in the fundraising campaign, which managed to attract such prominent investors as PTB Ventures, Omidyar Network and Learn Capital.
The platform utilizes open-source Blockcerts standard and has the ability to insert academic certifications into different blockchains, which is done to prevent the spread of illicit diplomas. The developers give the customers a choice which blockchain to use. Both private and public blockchain are supported.
Vice president of business development in Learning Machine Natalie Smolenski explained:
“We don’t want to pick winners with blockchain. We do generally recommend users pick blockchains with a proven record but ultimately you don’t want to prescribe to customers which blockchain they should use. If they have strong feelings about ethereum, they should use ethereum; if they have strong feelings on bitcoin, they should use bitcoin; if they have strong feelings on a private blockchain they should use a private blockchain.”
Smolenski predicted that in the future the majority of universities will embrace new technological developments and expressed her hope for the prevalence of open-source projects.