Nationwide College of Mongolia to Receive Soulbound Tokens on PoS Chain

In an uncommon transfer into increased schooling, the workforce behind Polygon, the Layer 2 blockchain, is planning to let college students on the Nationwide College of Mongolia (NUM) obtain their diplomas as Soulbound Tokens on-chain, the venture said on Thursday. 

“In a world where fake diplomas are problematic, it is commendable that NUM,… along with the Ministry of Education & Science are connecting diplomas with blockchain,” Polygon tweeted.

Educational Credentials

Soulbound Tokens are a sort of non-transferable and non-financialized NFTs that had been proposed in Might by Vitalik Buterin, Ethereum’s co-founder and chief scientist. Buterin mentioned SBTs could possibly be used to determine on-chain repute and provenance, suggesting the tokens could possibly be used for tutorial credentials, web3 credit score rankings, or on-line memberships.

The venture plans to supply the tokens on the Polygon’s PoS Chain, which is a sidechain designed to supply low-cost transactions in comparison with Ethereum’s mainnet. It has a complete worth locked of $1.3B, based on DeFi Llama.

The information comes the day after Meta introduced it’s going to quickly launch a toolkit enabling Instagram influencers to create and promote Polygon-based NFTs. Instagram and Fb additionally rolled out options permitting customers to share Polygon, Ethereum, and Movement-based NFTs in August.

Polygon additionally introduced that NUM launched a digital headquarters on its chain dubbed Meta College in collaboration with Octagon Market, an NFT Market, Guyuk Metaverse, an area web3 open-world venture. Students, graduates, and workers can mint one in every of six totally different NUM NFTs depicting anthropomorphized birds of prey to make use of as an avatar within the digital area.

Making Strides

Octagon, an area NFT and digital asset change, additionally minted 30,000 NFTs that will likely be distributed to NUM college students. The scholars are inspired to share the NFTs on Instagram. Polygon added it has lined up related plans with different high universities in Mongolia.

Whereas Mongolia has usually lagged in crypto adoption, knowledge from the blockchain intelligence agency Chainalysis signifies the nation’s web3 sector has been making strides over the previous 12 months.

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