SINGAPORE / ACCESSWIRE / November 18, 2020 / Smart contract platform TomoChain has landed an exclusive agreement to provide blockchain services for Vietnam's Ministry of Education and Training, aka MOET.
The National Qualifications Archive program will ensure that all certifications achieved by the country's students in High School and Higher Education are uploaded to the TomoChain blockchain, enabling transparent, immutable verification. The initiative will form Vietnam's largest exploration of blockchain technology to date and marks the first instance of a public blockchain being adopted at national level by a major government.
The nationwide system is set to be implemented for the 2020-2021 school year. After the successful trial, all types of diplomas granted by training units under the Ministry of Education and Training will be gradually entered into the National Qualifications Archives system, amounting to around 1.5 million diplomas per year.
Currently, qualifications are self-granted and self-managed by training institutions, resulting in lengthy verification processes by recruitment agencies and HR units.
"The qualifications archive with blockchain technology has been researched and adopted by TomoChain for over one year," explained Long Vuong, Founder and CEO of TomoChain.
"We are very honored to cooperate with the Ministry of Education and Training to deploy this technology to Vietnam's education system, contributing to the elimination of the prevalent issue of counterfeit diplomas, and making access to diplomas easier.
"Currently, storing data evidence on a public chain is a global trend due to its economical, security and confidential advantages. I strongly believe that this system lays a solid foundation for adopting cutting-edge digital technologies in e-government 4.0 in Vietnam, helping us walk alongside other innovative, progressive countries around the world."
"Diploma and certificate management is an issue that needs to be resolved by technology, which is significant for the whole of society and also cost-efficient for the diploma management system in particular, and education in general," added Nguyen Van Phuc, Deputy Minister of Educationand Training.
TomoChain recently acquired Lition, a German company that provides public and private blockchain services, and in doing so expanded its own Division for Blockchain Solutions for Government and Enterprises.
Prior to entering this partnership, TomoChain's enterprise experience included the development of solutions for the healthcare, energy and automotive industries.
TomoChain's EVM-compatible blockchain launched in December 2018 and is notable for its speedy confirmation time, low transaction fees and double validation, with the ability to process 2,000 transactions per second (TPS). Although headquartered in Singapore, TomoChain has additional offices in Vietnam and Japan.
Earlier this year, TomoChain launched TomoX, a layer-one protocol that enables the fast launch of permissionless DEXs. TomoChain also released its own decentralized exchange named TomoDEX, powered by the aforementioned protocol.
TomoChain is a scalable, low-fee public blockchain powered by proof-of-stake voting consensus. Based in Singapore, the project's mainnet launched in December 2018 prior to the release of additional products such as TomoX, TomoZ, TomoDEX and LuaSwap. TomoChain's technological solutions are used commercially by companies throughout the world.