NFT, the most popular industry in recent years continues to pique the interest of individuals and institutions from all walks of life. This trend did not go unnoticed by universities. At its graduation ceremony, Hoseo University in South Korea announced that all of its 2,830 graduates will receive NFT.
News of the Day You can stay up to date on developments by following us on Twitter and Telegram.
The University anticipates that switching from paper-based diplomas to NFTs will ease access to administrative services, allow for diploma changes, and prevent fraud. The institution thinks that switching from a paper-based degree to an NFT will improve administrative services and prevent degree fabrication or change.
NFTs have been adopted by a wide number of sectors and entities in South Korea, with the country’s largest companies, Samsung, SK, and LG, integrating NFTs in their newest line of goods and services.
The idea behind digital certificates is something that is treated in the past. An increase in the number of fake documents, fake certificates, and other forms of fraud is seen. NFTs are by design built to combat this. As long as the certificates exist on the blockchain in their non-fungible state, there is room for verification regardless of their immutability. With NFTs in the picture, the period of having physical papers faked and a large number of frauds committed is quickly fading away.
With more people voting in favor of the information’s uniqueness, a trust is built, and people can have more faith in the project process. Let’s say the paperwork (in the form of NFTs) claims he has 5 years of programming training experience, and this document is purportedly authentic.
There’s no way to lie now because the blockchain keeps track of who you are, who coined the NFT in question, when it was minted when it was issued, and to whom it was truly issued (in the instance of stolen assets). This is the concept that is now being debated, and there is a lot of power in this framework.
NFTs will aid in the prevention of many fraudulent operations, but for the time being, let’s just keep buying and selling JPEGs for millions of dollars. It’s worthwhile to wait till the world realizes something more significant in its design…
Sungkyunkwan University, which is supported by Samsung, hosted its graduation ceremony earlier this week. It was mentioned that he presented three pupils with NFT certificates.
In South Korea, a wide range of sectors and organizations have begun to include NFTs into their newest product and service lines, including the country’s main businesses like Samsung, SK, and LG.
Also read: Kraken says the company cannot protect you from the Canadian government’s crypto-freeze
