From 2020 to 2021, the crypto revolution in India was in full swing, with crypto investment in the country increased by almost 19,000 percent. This massive increase drew the attention of officials who are considering imposing a crypto ban in the nation.
There has been an increase in diploma document fraud in India, with fraudsters attempting to counterfeit certificates. The Maharashtra State Board of Secondary Education (MSBSD) chose to address the issue head-on using Ethereum blockchain-based diploma certificate verification.
LegitDoc, which has gained a lot of attention for their potential company idea, will verify diploma certificates.
The Ethereum Chain is used to verify diploma certificates
The Ethereum blockchain has been the focal point for several decentralized finance projects, and this latest initiative is no exception. The organization’s CEO, Neil Martis, appeared upbeat about the diploma certificate verification initiative.
LegitDoc, a company, is in negotiations with the Maharastra government, while the governments of Karnataka and Telangana have expressed interest in using blockchain technology to authenticate papers.
As a result of the Indian government’s decision, India is now one of the few countries that have selected blockchain technology for verification reasons. MIT was also one of the first universities to provide digital certificates.
In India, prestigious universities such as the National Institute of Technology, Surathkal, have chosen to use blockchain technology to combat the spread of document-related fraud.