A Private Research Institute in South Korea, Sungkyunkwan University has announced its plans to issue out Non-Fungible Tokens (NFT) Certificates to certain outstanding graduates as awards during its graduation ceremony, one of which is a pharmacology student with the name Moon Kyung-won.
The announcement was released on Monday 14th of February and noted that the graduation ceremony should be held this week, for history to be made in both the education sector and the blockchain space.
Sungkyunkwan University awarding certificates to graduates in the form of NFT is certainly the first of its kind, as we’ve only known NFTs to be associated with files like; music, artworks, games, and videos, but not to hold academic certificates on a blockchain.
This is certainly a new thing to the blockchain space. Just so you get the drill of this, NFTs are unique elements of data engaging technology that allows digital components in the likes of videos, songs, and images to become logged and authenticated on cryptocurrency blockchains, essentially Ethereum.
We’ve seen in the past years the massive adoption of blockchain technology in many sectors globally, but this new turn to presenting an NFT certificate has not seemed to cross minds. Sungkyunkwan University is arguably making a name for this.
South Korea is Putting Cryptocurrency in The Frontline.
As intriguing as you think this is, imagine what effect this would have on the crypto space in South Korea. In addition to the regulation of cryptocurrency trading in the country, this would be a step to crypto gaining huge ground or standing in the country, and possibly spreading to its neighboring countries.
Although South Korea ranks 3rd with crypto participation and bitcoin mining according to a reported analysis, still, this innovation in implementing blockchain technology into its educational sector and system came truly as a shock. Nonetheless, this certainly stirs an encouragement to show how much potential is hidden in the blockchain sphere.