Using blockchain as a tool for tracking and verification of official degrees: business model

Abstract

While the number of universities, tertiary education students and number of graduates per year constantly increase, the need to easily verify degree certificates generates new business opportunities. The irruption of blockchain, and its implementation based in the blockcerts software, provides a straightforward solution that demands to explore plausible business models. In this paper we project two financial models balancing where the price for the service is balanced between the graduate and the employer as the main stakeholders of that service. Students demand a proof-of-certification at low cost and easy to check, employers also demand quick and trustable verification of degrees when recruiting. Both models are projected for several geographic markets and shares to explore plausible ways to develop that business in the European Union.