Verify — A Niftron Case Study

Verified certification of any specific skill has become a benchmark standard by entities to measure the potential candidates. Paper-based certificate issuance and verification is an intricate process that is vulnerable to fraud and prone to errors. Verify helps academic institutions and other business entities to simplify and automate the certificate validation and publication process. Verify’s aimed to works towards making the certification less fraudulent, transparent, instantly verifiable smart certificates secured by blockchain technology in order to reduce the carbon footprint.

To achieve their goal The Verify network (Pvt) Ltd. created a platform named “Verify”, which issues trusted, secured and transparent smart certificates through blockchain technology. The technology ensures that the certificates are not tampered with enabling a less fraudulent and secured platform. The smart certificates can be verified by any entity hence the transparency. Full ownership of the certificates and data will be with the user than with the platform or third party. This automated system allows students and their prospective employers to access the certificates and academic credentials from any geographical location without any need of a physical certificate.

Few of the main selling points of verify includes

  • We are the pioneers
  • Affordable price tags
  • Custom packages
  • Pay as you go model
  • 24X7 local language support

Verify uses Niftron to attain various values that verify was founded on as Niftron provides its Blockchain as a Service platform to enable Verify to integrate blockchain easily and efficiently to improve trust, transparency, security, and ownership.

“Blockchain is not simple”. Building a blockchain application is completely different, compared to how we build other software applications. The same goes for integrating blockchain with your existing projects. In a blockchain project, 60% — 70% of the time is allocated for architecting the solution perfectly. While architecting, businesses need to think about how to maintain trust, transparency, decentralization, transaction management, how to build the app cost-effectively, wallet and key management, the security of data & key and the scalability of the solution. Verify’s Partnership with Niftron made blockchain simple by taking all these metrics from the developer side and providing them with an SDK with services and APIs which can be used to connect with the blockchain that they prefer. This provides them with the flexibility to switch to another blockchain just by a button click through our developer console.

The core of Niftron is tokenization and that helped Verify to tokenize the certificates as blockchain assets. This provides liquidity to the certificates and enables the certificate issuers to easily transfer the certificates to the users with full ownership. Users can receive the certificates in a form of a token and the data and token will be stored in the user wallet under their full controlled. Verify uses Niftron’s secure and user-friendly blockchain wallet for their users to accept and store their certificates. In addition, Verify uses Niftron’s blockchain-based approvals to get multiple people to approve upon issuing the token. Verify users or anyone who wants to validate the certificate can use Niftron’s explorer to validate and verify the issuer, receiver, dates and multiple other info in a secure and trusted manner.

Verify has done a pilot study with a local and an international entity and provided around 400 certificates via our verify portal. Currently, they are in progress with 2 private universities and 2 virtual international conferences as digital certificate partners. Also, emerged as a national finalist and second runners up of the globally renowned women entrepreneurship competition, “She Loves Tech 2020” Sri Lanka edition. Below are some posts shared by the students who received IIT Cutting Edge 2020 Certificates through Verify.

In the future verify hopes to work with more universities and institutes and become a globally trusted digital certificate provider to reduce the carbon footprint. We are really happy to see organizations like verify integrating blockchain with their products easily and cost-effectively to provide trust through transparency and security.

Niftron already has attracted local and international customers after the beta release. We have clients who are developing decentralized social media application, non-profit fundraising and traceability app, domain name issuing as well as issuing tickets and certificates through blockchain. The most attractive feature for the clients is our Pay as you Use model where they don’t need to invest a lot to integrate blockchain and they can pay based on their usage only. To learn more visit https://www.niftron.com.

Why Do We Need BaaS?

Every business, organization, startup , government and NGOs have one thing in common. All of them run based on the trust. Each of these industries work towards improving the trust as that will bring them more revenue/customers.

Based on history, the easiest and the most efficient way to improve trust is by providing transparency, ownership and security. Luckily, all of these can be achieved through blockchain and that’s the #1 reason for each of these entities moving towards blockchain. All the organizations, startups, nonprofit and governments are using blockchain to improve their trust by providing transparency, ownership and security.

Blockchain was introduced to the world in 2009. But the applications/projects started to integrate or run on top of blockchain from 2014 after the release of Ethereum. From that point onwards there have been many blockchains introduced to the world and many industries/organizations started to use blockchain. From 2014 to 2017 it’s only tried and used by tech enthusiasts and visionaries. After 2017 it grabbed the attention of the mainstream market or early majority.

Deloitte polled close to 1,400 senior executives from high revenue companies worldwide for their 2020 Blockchain Survey and more than 50% of global organizations view blockchain as a strategic priority where 88% of senior executives believe that blockchain technology will be adopted mainstream soon. Also 83% of executives agree they will lose their competitive advantage if they don’t adopt blockchain. The percentages were continuously increasing compared to 2018 & 2019. This is the perfect time for Niftron to enter the market as everyone is looking for a fast and efficient way to integrate blockchain with their projects/products in a cost-effective manner which can be perfectly fulfilled by Niftron.

There are two ways currently any projects or products use to integrate with blockchain; by developing the systems from scratch by using existing blockchains or integrating with a third party solution. This is the main reason for the low adoption rate of blockchain in the mainstream market.

Each of these methods have their own advantages and disadvantages. Above are the main disadvantages or roadblocks anyone will face when they want to transform or reinvent their product/projects using blockchain. These above-mentioned issues create a gap to integrate blockchain and that’s the main blocker for the blockchain technology to get adopted by the mainstream market.

When developing from scratch the gap is mainly created by the lack of blockchain knowledge/learning curve, time to develop blockchain applications from scratch and the high cost for blockchain developers. The other method to integrate with blockchain is by using third party applications/solutions. Many blockchain projects are developed and released into the market to solve particular industry needs such as blockchain based medical records, decentralized identity management, land record management blockchain based supply chain projects, etc. This will reduce the time, cost and resources needed to develop a blockchain based application from scratch. But, if any industry or organization uses these types of projects/solutions, they need to completely rely on these applications most of the time as well as they need to stick with their features and functionalities. Still there is a gap in the market to let the organizations itself transform to blockchain without relying on third parties and that is what Niftron is trying to solve.

We are not the first people who identified this issue. Already there are existing BaaS, PaaS and IaaS to bring the blockchain to the mainstream market. However, all of them are failing in one aspect: all these platforms are developed focusing on blockchain developers. Even though such platforms can help or support to solve these issues to some extent, they will slow the adoption rate.

After identifying these pain points we came up with Niftron. Niftron is a bridge to solve this gap by offering BaaS which can be integrated easily and efficiently to any existing or new project/product without changing their process/flow. The target audience of Niftron is anyone who wants to integrate blockchain with their products or services from a student to large enterprises. They can be programmers or non-programmers as well. Non-programming background users can use our user-friendly web platform, whereas programmers can use SDK to integrate any blockchain with their projects through our services. Niftron provides all the services that are needed for any type of blockchain project which includes secure user interfaces for signatures and login, services to add data, APIs to access data as well as verify the data, etc. We developed Niftron in a way to let each project/product/organization integrate and transform to blockchain independently without completely relying on us. Which will give them a freedom as they can develop whatever they need and own the data as well.

Niftron already has attracted local and international customers after the beta release. We have clients who are developing decentralized social media application, non-profit fundraising and traceability app, domain name issuing as well as issuing tickets and certificates through blockchain. The most attractive feature for the clients is our Pay as you Use model where they don’t need to invest a lot to integrate blockchain and they can pay based on their usage only. To learn more visit https://www.niftron.com.

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