Learning Machine has raised $3 million in a funding round led by PTB Ventures. This comes months after the Massachusetts Institute of Technology (MIT) had announced that it was partnering with Learning Machine on the digital diploma project based on the Blockcerts standard.
With Blockcerts, academic achievements and professional certifications can be put into different blockchains so they can be verified in an effort to eliminate fraudulent practices like degree forgery.
Rather than setting a specific blockchain for its operations, Learning Machine opted to allow its clients to choose whatever blockchain they want. Commenting on this, Learning Machine Vice President of Business Development Natalie Smolenski said:
“Right now in part I think because blockchain technology is still relatively new, there are a lot of high or strong emotions about which blockchain is better than another and blockchain has kind of engendered these fierce loyalties.”
In an interview with CoinDesk, Smolenski explained that she hopes that other educational institutions will follow suit with exploring open-source projects:
“By 2020, most institutions will be using the blockchains in some way, shape or form and the question we have to answer right now is are the solutions going to be open-standard or are they going to be proprietary?”