The Newest Economy: Welcome to the Credential Currency Revolution

Credential Engine and Velocity Network Foundation are operating together to assist with the possible creation of an Amazon-like system that links all the stakeholders, but they can’t do it alone. That’s where a newly formed collaboration, called the “Credential Alliance,” between CE, VNF, the National Laboratory for Education Transformation (NLET), the Southern Regional Educational Board (SREB), GoEducate, Inc., and other future collaborators comes into play.

 

The ecosystem requires “two critical bridges.” Bridge One, facilitated by Credential Engine (CE), connects education and training providers with employers. Bridge Two, facilitated by the Velocity Network Foundation (VNF), connects credential earners with employers. CE is a nonprofit that provides web-based services inside a Credential Registry that houses current information about all credentials. CE uses a common descriptive language, called CTDL, “to enable credential comparability, and a platform to support customized applications to search and retrieve information about credentials.” VNF is the cooperative, non-profit behind an “Internet of Careers” service, which is a blockchain-based utility “for organizations to issue verifiable, immutable trusted career credentials straight from their system of records, and for individuals to claim their credentials, own them, and selectively share them with employers and labor market stakeholders across various use cases.”

 

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