Learning Machine Technologies, a New York-based blockchain startup, has raised $3 million in a seed funding round led by PTB Ventures.
Other investors in the round include Omidyar Network and Learn Capital.
Learning Machine has been spearheading efforts in collaboration with leading institutions to put academic records on the blockchain. In a pilot project last year, the company issued digital diplomas using blockchain technology for MIT graduates. The University of Melbourne has also used the Learning Machine issuing system to issue its Melbourne Teaching Certificate.
In partnership with the MIT Media Lab, Learning Machine has developed “Blockcerts”. The startup said that its software “streamlines routine business operations, de-risks official credentialing practices and reduces both fraud and verification costs.”
“Blockcerts is the open standard for how to create, anchor, and verify records using any blockchain in a format that is recipient owned and that has no ongoing dependency upon any vendor or issuer,” Learning Machine CEO Chris Jagers explained in a blog post.
The company released the new Blockcerts Wallet mobile app (iOS/Android) last month. It allows people to easily receive, store, and share their official records such as electronic IDs, academic records, workforce training, or even civic records.
