ADELAIDE, Australia, May 24, 2019 /PRNewswire/ — TrustEd, an Australian start-up dedicated to bringing transparency to verification of academic credentials via blockchain, and Binance, the world’s largest cryptocurrency exchange and developer of proprietary blockchain Binance Chain, have entered an agreement to launch TrustED on Binance Chain.
The world’s largest cryptocurrency exchange Binance has recently launched the main net for Binance Chain, a blockchain software system initially developed by Binance and its development community. Boasting one second block times, transactions that take place on the innovative Binance Chain can be confirmed in nearly an instance. Binance Chain is poised to be a revolutionary stepping stone in the bid to bring cryptocurrencies and blockchain technology to the masses.
TrustED, a startup out of Adelaide, Australia was founded in 2017 with the aim to on-board academic institutions such as universities and trade schools. TrustED offers educators the technology and training in order for them to store, issue, and verify academic credentials such as diplomas and certificates through blockchain technology. Blockchain technology offers immutability and permanency of data, hence storing and issuing academic credentials using the technology poses a great advantage in the efforts to digitize credentials and prevent the creation and issuance of fraudulent and falsified documents.
TrustED was initially poised to utilize the Ethereum blockchain for its application use case, however, with the introduction of Binance Chain, TrustED is excited to announce the agreement with Binance to offer to be one of the first startups to utilize Binance Chain.
Kosta Batzavalis, TrustED CEO, commented on the importance of the partnership, stating:
“Being one of the first projects on Binance Chain is not only an honor but also a massive stepping stone for the TrustED project. With Binance technology behind us, TrustED can deliver on SLAs and security requirements necessary to make a blockchain-based academic solution enterprise-grade.”
TrustED will be among the very first tokens to be launched on Binance Chain. Ted Lin, Chief Growth Officer at Binance stated:
“Binance Chain and the introduction of the Binance DEX enables thousands of crypto tokens and companies to utilize the technology in an efficient and effective manner. We’re excited to have TrustED be one of the first startups to utilize Binance Chain and look forward to the growth that is to come in further bringing cryptocurrency mainstream.”
In addition to utilizing Binance Chain and the accommodating support to establish the TrustED application, TrustED plans to conduct a public token offering in the near future to assist with further fundraising and community building. TrustED will be the first Initial Token Offering to take place with the native Binance Chain BEP2 Token standard.
Conceived in 2017 in Adelaide, Australia TrustED digitalizes academic credentials through innovative blockchain technology. TrustED revolutionizes the way we receive, share and verify our academic credentials. TrustED partnered with California’s NetObjex to produce an all in one solution which enables academic institutions to store and issue academic credentials, students to digitally hold and share their academic credentials, and employers and other verifying third parties to instantly verify academic credentials.
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