The professional scene is always constantly evolving. There was a time when a University degree certificate was enough to get a job or move up the career ladder. Now, with so many different knowledge areas being developed, a University degree certificate just isn’t enough. There are all manner of professional certifications and membership certifications that it can be sometimes hard to keep track of. Some of these certificates are prerequisites for obtaining other certificates. This puts a great deal of importance on being able to prove the fidelity of any tendered document.
There is no denying the importance of certificates in today’s world. However, the methods by which certificates are handled leaves a lot to be desired. Despite being in the digital age, there is still a lot of emphasis on paper certificates which places a great deal of burden on storage requirements. Anything from fire, water, or even theft can lead to the loss of a paper certificate. The process of obtaining a new one is extremely difficult involving affidavits and a host of other tedious activities.
The emergence of the digital age and the sophisticated computer programs that allow for complex image altering and manipulation also raises the issue of certificate forgery. Scanned copies of paper certificates can be altered and manipulated. Organizations are aware of the possibility of forgery and as such, individuals have to go through a lot of hassle to prove the authenticity of scanned copies of certificates. This brings up the need for notaries and validation from the issuing body which can either be tedious or expensive or even both.
The issues and problems associated with certificate verification lead to a significant amount of downtime in the corporate and academic world. It is for this reason that the ChainID project has decided to leverage the power of the blockchain to the problem of certificate authentication and storage.
ChainID Project Overview
The ChainID project is an intuitive application of blockchain technology to certificate storage and authentication. Certificates of users are stored on a secure distributed ledger on the blockchain. The blockchain is theoretically immutable which means that any certificate stored on it is safe from hacking, theft, and forgery. Being a decentralized system, participants will be able to verify any certificate stored on the blockchain.
The project is designed to be a certificate management system that is hosted on a blockchain. Participants of the system can store their certificates and other documents on the blockchain. In a way, a certificate can become a blockchain asset which means that it will be timestamped and stored within a safe network. The ChainID blockchain is free for individual users as well as certificate-issuing bodies.
How the System Works
A user registers on the ChainID website with a name and some other personal details. The user can then upload his or her certificates unto the platform and this generates a unique user card which is then stored on the blockchain. The maximum data size of the user card is 2KB. The general information section of the user card has a size of 200 bytes leaving the remaining 1.8KB for storing certificates and other documents. The data size of each uploaded certificate is 100 bytes which means that up to 18 certificates can be stored per user card.
In order to ensure the fidelity of the system, there is an identity verification feature on the platform. Users can verify their names, email addresses, and even phone numbers. Once a specification identification parameter is selected for verification, an email is sent containing a verification link. Once the ID verification is complete, a “verified” badge is shown adjacent to that ID that has been verified. This adds a layer of quality assurance to the operation of the ChainID blockchain.
By signing up for the service, a user gets a unique blockchain address that contains information about the certificates in a user card. Each address is tied to a specific user card. When sending certificates for any number of purposes whether academic or job-related, a user can send the blockchain address to the receiving body. With the blockchain address, the receiving body can check whether the candidate has such a certificate. Users can send full or partial addresses.
The ChainID Ecosystem
The ChainID project features a robust ecosystem that is made up of individual users, businesses, ChainID website, and certificate provider portal. These four components interact with one another within the construct of a seamless decentralized blockchain.
The individual user can create a profile on the blockchain which generates a user card that has up to 18 certificates. Businesses can quickly confirm the validity of the certificate of an employee, contractor, or client. By simply querying the blockchain via the address provided by the user, the business can know for sure if the certificate is genuine. Businesses can also install ChainID widget on their website for quick registration of users. Certificate providers make the final piece of the puzzle. By registering with and integrating with the ChainID project, they can make the certificate verification process to become easier and more efficient.
The ChainID Token
The ChainID (CID) token is the name given to the native cryptocurrency of the ChainID project. The CID is used to facilitate all certificate storage, query and authentication transactions on the project. The project runs on the Ethereum blockchain which means that the CID token is an ERC20 compliant token.
1 CID = 0.001 ETH
The ChainID Project Team
The ChainID team is a mix of blockchain and business experts. Ruslan Bugorsky and Ruslan Ryaboshtan are co-founders of ChainID. Ruslan Bugorsky is the CEO while Ruslan Ryaboshtan is in charge of implementing blockchain algorithms. They are both experienced professionals. Other members include Vipul Patel and Luka Pregelj. Luka Pregelj is a Legal and Business Consultant at Lex Lucas Consulting, he is an active member of Blockchain Task Force at AmCham and involved in various projects in the field of blockchain and emerging technologies. For ChainID, his role will be ensuring that they are working not only on technological side of the problem of storing documents into blockchain, but will also help to cover legal aspects, making these blockchain records legally significant.
There are a number of blockchain-based document storage projects. Many of them focus on secure cloud storage and transfer for legal transactions. The ChainID project focuses on an area of blockchain utilization that is, unique authentication. If the project is able to get the major certificate-issuing bodies to partner with it, then it has the potential to be a massive hit.