REVIEW ICO TRUSTED( TED)
Academic credentials are an established means for employers to evaluate
the capability of a candidate’s prospective job performance. However, the
accuracy and credibility of these credentials are increasingly becoming
questionable. In the current digital landscape, websites such as LinkedIn,
widely used to publicize one’s credentials, does not perform any background
checks on user profiles, and is fraught with individuals either embellishing
their qualifications, stretching the truth or lying outright1
. The same could
be said of Career Builder, Glass Door or Monster. Given the nature and
physical form of academic credentials, they are always vulnerable to forgery,
and the intensity of incidents related to facts distortion and fraud in
credentials are numerous. A recent survey of around 5000 resumes
conducted by the Risk Advisory Group concluded that 80% of CV’s contained
some form of discrepancies, with 57% of these discrepancies being
academic background related and 12% of CV’s containing outright falsified
TrustED is the first-of-its-kind academic credential verification service, that brings honesty, legitimacy, and convenience to the education and human resources industry. TrustED leverages cutting edge blockchain technology to mitigate many of the problems faced in the process of academic credential verification and storage.
TrustED cryptographically secures and stores academic credentials issued by universities on their network. Students now have a secure network to preserve, access and share their academic qualifications at their own discretion, as well as the immutable assurance that their private data will be immune from removal, alteration and/or unauthorized access.
The TrustED platform helps overcome the currently dysfunctional system by enabling academic institutions to store credentials and certifications on a distributed global ledger, rather than centralized databases. These institutions act as the verifying authorities, ensuring that each academic credential is authenticated directly from the source.
Verification Simplified
Employers can validate credentials of prospective employees without requiring third parties, or a lengthy process. TrustED offers governments a reliable source of document verification for immigrant workers, and furthermore, it brings to light any fraudulent claims much more efficiently than currently possible.
TrustED enables employers to validate credentials of prospective employees
without requiring third-party intermediaries, or a lengthy process.
Additionally, it offers governments a reliable source of document
verification for immigrant workers, and furthermore, it brings to light any
fraudulent claims much more efficiently than currently possible. The
primary value offering of TrustED is that it provides a technologically
advanced solution to individuals looking for a platform that can securely and
indefinitely store their academic credentials, and those looking to verify or
validate the same. The platform features all the advantages leveraged by
using Distributed Ledger Technology including cryptographically secured
data, real time sharing, transparency, immutability and a decentralized
token economy. The platform stores grades, degrees, assignments and test
results, and various other industry or professional certifications that can
include Health and First Aid related certificates, Project Management
Professionals, and many others. The core requirements for TrustED we
expand on below:
• Storing Credentials
TrustED will invite credential issuing authorities, like academic
institutions, to participate on the platform and issue credentials for
their graduates in digital form through the TrustED platform. These
credential issuers will need to be verified by relevant government
agencies before they can be a part of the TrustED system. The
credentials issued by verified institutions will be cryptographically
secured and stored on TrustED’s distributed network. Additionally,
credential holders will also be allowed to upload their credentials to
the platform, but these credentials will remain unverified until
validated by the respective credential issuer. Credential holders who
opt to store their own academic credentials onto the platform will
have the option to pay a fee to TrustED, whereby TrustED will work
with the corresponding credential holder on verifying the academic
credentials with their corresponding credential issuer.
• Accessing Credentials
Credential holders and graduates will be able to create an account
on the TrustED platform and have access to their verified credentials
at all times, while having complete control over the distribution of
these credentials within the system. The credentials holders will
need to be KYC verified in order to prove their identity to the system,
so they can be assigned their respective credentials and subsequent
TrustID. While the credential holder retains complete access to the
documents, modification or updates to the credentials can only be
authorized by the relevant credential issuer.
• Verifying Credentials
Those looking to verify credentials of an individual can do so in a
matter of minutes by creating an account on the TrustED platform
and requesting the same on the platform. The verification process
on TrustED will initially remain free, however, will change to a
14
payment model once the TrustED mainnet launches as per the
current roadmap. The platform allows payments to be made in both
fiat and TED tokens. While the conversion from TED to TCRD for the
purpose of processing the transaction is managed by the systems
conversion smart contract, the fiat payment is processed through
integration with a third-party payment service provider like Stripe.
Once the required fees are paid, a request is sent to the credential
holder for approval, after which, on receiving approval, the verified
credentials are shared with the user requesting the same. Fees paid
on the platform to verify ones academic credentials will be set at a
constant rate, whereby the fees will be split amongst the credential
issuing institution, and TrustED.
• Tokenized Transactions
TrustED will employ the use of TrustED tokens (TED) an ERC20
compliant token to facilitate the purchase of Trust Credits (TCRD)
which is a native token to TrustED, utilized for all payments and
transactions within the system. The wallet balances of TCRDs on the
TrustED platform will be managed by Hyperledger. The use of a
tokenized system brings with it multiple benefits in the form of
instant transactions, micropayments, cross-border remittances,
minimal transaction fees and more.
Token Name :TED
Token Type : ERC20
Total Token Supply : 1,720,000,000.00 TED
ITO Token Supply 1,204,000,000.00 TED
ITO Duration Q1 2019
Soft Cap :$11,000,000
Hard Cap :$21,070,000
Price for one token : $0.02
ITO min purchase US$10
Private Pre-Sale Oct 1, 2018 — Jan 20, 2019
ITO Jan 20, 2019 — Mar 20, 2019
ITO Token Sale Breakdown
ITO Stage Tokens Released
20 % Bonus Round 301,000,000.00 TED
15% Bonus Round 301,000,000.00 TED
10 % Bonus Round 301,000,000.00 TED
5% Bonus Round 301,000,000.00 TED
Roadmap
Q2 2017
TrustED Concept Formed
Q2 2017
Outline development & business outlook
Q3 2017
Assemble team of University, blockchain & crypto experts
Q3 2017
Discuss and Innovate on how to develop TrustED with experts from Academic Institutions
Q4 2017
Begin development of the TrustED Proof of Concept
Q1 2018
Further expand and network with Academic Institutions and potential users. On boarding our first 2 academic institutions to run the TrustED Proof of Concept
Q2 2018
Final adjustments to The TrustED Proof of Concept
Q3 2018
Initial trial phases of The TrustED Proof of Concept (On boarded academic institutions trial The TrustED protocol proof of concept)
Q4 2018
Further expand and propose the TrustED protocol to academic institutions.
Q4 2018
TrustED Private Pre-Sale
Q1 2019
TrustED Public ITO
Q1 2019
Begin incorporating The TrustED Proof of Concept into Mainnet for institutions.
Q1 2019
Release first version of TrustED Quarterly Update, outlining the technical development progress, business progress and up and coming events.
Q2 2019
Expansion and On-boarding Users and Institutions. Specifically targeting European, Asian, Australian and US institutions.
Q2 2019
Release second version of TrustED Quarterly Update, outlining the technical development progress, business progress and up and coming events.
Q3 2019
TrustED Mainnet Released to Public.
Q3 2019 + BEYOND
Geographical expansion and strategic marketing to grow the ecosystem + On-going TrustED Quarterly Updates.
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WEB : https://ico.trusteducation.io
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