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Bitcoin Global News (BGN)

February 27, 2019 -- ADVFN Crypto NewsWire -- Sony and Fujitsu just announced a joint-partnership to evaluate the utility of the blockchain for the verification of records like transcripts and exam grades. CoinDesk has already panned this news as if it is something truly unique.

The fact is, this report illustrates the importance of the mantra that runs the careers of most successful blockchain investors. Never take any news in the blockchain space at face value. This idea is identical to the saying that has been repeated across Reddit forums and Twitter threads since Bitcoin’s inception.

Do your own research. If an interested investor were to look a bit deeper into this claim, they would find that the Massachusetts Institute of Technology already has a live platform for verifying records, including even diplomas. Given that MIT is perhaps the most trusted university in terms of blockchain research, it is reasonable to accept that their solution will gain traction.

Then there’s Blockcerts, which has gained the trust of the University of Bahrain, as well as other universities like Georgia Tech, that are piloting it. While arguably, Sony and Fujitsu might have more overall capital to spend on such a project, this does not mean that they will allocate enough funds to outpace the adoption of all other existing solutions from competitors.

Even so, perhaps the idea that these two solutions will be competing is a fallacy. According to CoinDesk’s report, Fujitsu and Sony’s solution is being especially geared towards foreign students who plan to study in Japan, at least at first. Furthermore, Blockcerts is not a for-profit project.

 It is however, an open-source protocol, which means that at this point, even Fujitsu and Sony could use it to fulfill their needs, at least in theory. In the end, perhaps this announcement is less of an echoing of the importance of doing your own research, and more of a reminder of the importance of building upon that which others start. Sometimes breaking news is not exactly breaking news.

By: BGN Editorial Staff