TrustED, an Australian academic credential verification platform has joined forces with Binance crypto exchange to launch its ICO on the Binance Chain.
TrustED, a platform focused on fostering transparency in the verification of academic certificates has allied with Binance exchange, the creator of the Binance Chain blockchain network, to launch TrustED on Binance Chain.
The newly launched Binance Chain network boasts of one second block times, allowing transactions to get confirmed almost instantly on the platform.
Binance Chain is determined to promote the widespread adoption of crypto assets with its intricate properties.
TrustEd was established in Adelaide, Australia in 2017 and its main goal is to onboard academic institutions like universities and trade schools. TrustED provides educators with the technology and training needed to store, issue, and verify academic credentials via blockchain technology.
The immutability property of blockchain technology makes it the best solution for storing and issuing academic certificates since it fosters permanency of data, thereby curbing fraud and falsification of documents.
TrustED originally had plans to go live on the Ethereum blockchain, however, the introduction of Binance Chain has given it a more exciting choice since it will now be among the pioneers of the platform.
Commenting on the matter, Kosta Batzavalis, CEO of TrustED reiterated that:
“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.”
Ted Lin, Chief Growth Officer at Binance stated that:
“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.”
TrustED partnered with California’s NetObjex to create the highly functional solution that enables academic institutions to store and issue credentials, while also making it easier for students to digitally hold the certificates and share it with employers and other third parties for instant verification.
TrustED plans to launch its token generation event in the future, in order to gather funds for community building. TrustED will be the first initial token offering to be launched on upon the native Binance Chain BEP2 Token standard.