India Blockchain Alliance to champion the deployment of Velocity Network in India to accelerate local job market into the future.

Denver (April 18, 2024) – Velocity Network Foundation®, a global non-profit technology consortium driven by the largest and most influential organizations in the space of workforce and education, announced today a strategic collaboration with India Blockchain Alliance (IBA), a not-for-profit organization that promotes evidence-based adoption of Blockchain and Distributed Ledger Technologies (DLT) across the public and private sectors in India.

Velocity Network™, the Internet of Careers®, is a purpose-built decentralized protocol and blockchain network that forms a public infrastructure for privacy preserving exchange of verifiable, trusted, and globally interoperable career and education credentials. Velocity Network enables a world where individuals can claim their career and education credentials from primary sources (i.e., their school, past employers etc.) as immutable, globally interoperable proofs, stack them as they navigate their careers and use them whenever they need to prove their qualifications.

IBA and Velocity Network Foundation will work together to empower technology researchers, practitioners, and thought leaders in the region to build cross-border, interoperable, and solution-agnostic trust systems that fosters seamless exchange of career and educational records across borders, leveraging Velocity open-source protocol, blockchain network and software.

“Streamlining the exchange of proofs of qualification between individuals and organizations holds immense promise for powering up the Indian labor market. “, says Dror Gurevich, CEO of Velocity Network Foundation. “We are thrilled that IBA, a trailblazing non-profit dedicated to responsible innovation and embracing transformative technologies in India and across Asia, has taken the lead in advocating for the implementation of Velocity Network in India. This initiative promises to propel the local job market into the future, accelerating progress and opening new avenues of opportunity for all.

This strategic collaboration is expected to elevate India’s standing as a global hub for ethical technology adoption, marking a pivotal stride towards IBA’s mission of propelling responsible innovation and embracing transformative technologies in India and across Asia.

“We are thrilled to join hands with Velocity Network in our endeavor to drive responsible innovation and adoption of transformative technologies in India,” said Raj Kapoor, the founder of India Blockchain Alliance. “This collaboration aligns perfectly with IBA’s mission of empowering individuals, businesses, and educational institutions through cutting-edge solutions that prioritize trust, transparency, and compliance.”

Velocity Network™ represents the most ambitious collaborative endeavor ever undertaken by labor market stakeholders. Over 90 software vendors to worlds of work and education are collaborating in developing and deploying the Internet of Careers®, alongside employer and education associations, staffing industry associations, and other global nonprofit and multilateral organizations representing large job market stakeholder groups.

In the few months since the launch of Velocity’s Mainnet, this initiative gained impressive traction and sparked enthusiasm across the HR and Education software industries. Numerous organizations, including universities, employers, and training vendors, have seamlessly issued millions of tamper-proof credentials to hundreds of thousands of individuals that have been embracing Velocity’s career credential wallets.