Last month the Frankfurt School of Finance & Management became the first university in Germany to award certificates for a course of study at Blockchain. In parallel with their new course offerings, the university is using their own blockchain based system of forgery-proof certificates for its diplomas.
The authenticity check for identity and educational certificates costs time and money for administrations and citizens. Further, the document holders, the students are individuals, do not actually have full control over the credentials obtained. This kind blockchain based method creates permanently available data at the discretion of the holder that is also compliant with data protection regulation.
"With the Blockchain you can safely store personal data such as a CV or identity card, just like in a picture book. With our project we show how easy and comfortable that can be for the user. " - Professor Philipp Sandner, head of the Frankfurt School Blockchain Center
The Frankfurt School Blockchain Center
The university’s newest research focus is highlighted by an entire new department. The think tank and research center investigates all aspects of blockchain technology for governments and the function of private businesses as well. I serves as a platform for managers, startups, technology and industry experts to share knowledge and best practices. The result is an ideal place for developing prototypes like their new system for IDs and certificates.
The Center covers the range of trainings for students through executives. In line with the research areas of the university as a whole, banking, mobility, “Industry 4.0” and the energy sector are primary concerns, but ultimately it is a foundation to build a strong community of blockchain experts, corporates, industry experts and entrepreneurial talents.
First Hand Blockchain Experience
To lay the groundwork for novel blockchain technology projects and further research, the center has already compiled and processed the data on patents related to cryptocurrencies and blockchain technology worldwide. The report was conducted in partnership with a German patent law firm, KNH Patentanwälte. It highlights:
● Analysis of important patents
● The open source nature prevents patents on the core technology
● Patent activity is growing quickly in additional applications
● U.S. financial companies have filed most
For the forgery-proof system, the university worked with the Etherem development organization, Consensys. One of the primary developments through Consensys has been their decentralized app for self-sovereign identities. This is an identity created by the user, and stored on the blockchain to provide the same benefits of holder control and universal access. The pilot project is lead by Veronika Kütt, a research associate at the Frankfurt School Blockchain Center.
"In the future, certificates or certificates can be displayed digitally. We are doing pioneering work here. Our students find it a privilege to be involved in a new technology so early on. It's a bit like the programming of the first public Internet sites in the mid-'90s. "
World Class Education
Frankfurt School of Finance & Management is a private, non-profit university offering bachelors, masters, MBA, doctoral, and executive degrees. It is consistently ranked in the top business schools in the world. They placed 28th in the Financial Times Global Masters in Finance Pre-Experience Ranking 2017, and was also ranked 41st in the world for the Financial Time's Masters in Management 2017 ranking.
"Certified Expert in Digital Finance": Students learn about the emerging digital landscape and the new market participants and products. Graduates can expect to successfully deploy digital technologies in their organization and leverage digital financial services in target markets.
"Certified Blockchain Expert": from October 24, 2018 to January 21, 2019 in Frankfurt: Tailored for acquiring IT or business skills in blockchain technology, the course is split for focusing on one or the other. They utilize the Ethereum and the Hyperledger platforms to practice writing smart contracts and decentralised applications (DApps). The business perspective provides an understanding of the variety of use cases and business models.
By: BGN Editorial Staff