Questions for BCDiploma’s CEO, Luc JARRY-LACOMBE, by Cryptocentral.io
1. Hi Luc, could you briefly talk about your professional background and the core team at BCDiploma?
I am a specialist in higher education, product owner of an ERP for the education world. My career path has enabled me to support a large number of schools in their transformations. Vincent, BCDiploma CTO, has 10+ years of experience in the education software market.
2. How big is the problem of fake degrees and diplomas?
It’s a worldwide problem, it concerns all schools, graduates and employers. Scandals are constantly emerging: Yahoo!’s former CEO Scott Thompson, or Melania Trump in the US. The LinkedIn social network exceeded the 500 million registered users in 2017: a very large majority of them have several diplomas on their profiles…and these millions of diplomas are unverifiable!
3. What is BCDiploma? How did the idea come about?
BCDiploma is presenting a breakthrough proposition, by making the best of Ethereum to offer a world-beating one-click diploma and data certification service. BCDiploma is an innovative framework that allows to certify data and share it through a simple url link.
BCDiploma meets a specific need of schools and universities. These Institutions are following technological evolutions to avoid forgery and degree counterfeiting. BCDiploma is aware of their concerns, and has accepted the mission to bring a solution adapted to the issues they’re facing, as fake certifications are strongly hurting their reputation and business.
4. Could you briefly explain the BCDiploma DApp model of issuing degrees on the blockchain?
The certification process takes place in four simple steps: first, the institution issuing the diploma is an institution whose existence and physical reality is certified. It deposits the diploma data (name, surname, date of birth, specialty, mention, etc.) on the blockchain via BCDiploma DApp. Then, the graduate student is given a URL and/or a QR code that he/she can show – if desired – to a third party (typically, a potential employer): this will make a fully authenticated diploma readable and verifiable.
5. How will BCDiploma secure the data on its network?
The blockchain is already, in itself, the assurance of having data circulating on a decentralized network that is much more invulnerable to cyber-attacks than a conventional network. Hacking data from a blockchain would require 51% of the network’s computing power, which is extremely difficult and, above all, extremely expensive in practice. The second element that makes our solution so robust is cryptography: we use a powerful encryption algorithm that guarantees total protection of the transmitted data.
6. Will BCDiploma charge a fee for this service? If yes, who will pay for this service?
Our clients will be the diplomas’ issuers: universities, schools, professional education institutions, and institutions delivering attestations such as TOEIC, SAT or graduating MOOCs. There will be no recurring cost, nor subscribing or conservation costs, only a “one shot” payment for issuing diploma. Our service will be free for the graduate, the employee or the citizen, without any time-limit.
7. Could you briefly point out the stand out features or benefits of the BCDiploma project?
BCDiploma will challenge the current blockchain solution by providing schools a better software product: more scalable (ethereum vs bitcoin blockchain), easier to deploy and use, and natively compliant with data rights and regulation.
Then, through innovation! Thanks to our framework, which stores the encrypted diploma’s data directly on the blockchain and certifies the school’s identity on Ethereum, the “MIT like” complex solutions based on document fingerprint are a thing of the past.
Finally, BCDiploma’s framework is designed to certify all kinds of data: certificates of competence, diplomas, certificates, professional registers, administrative data. The fields of application are countless, and BCDiploma’s simplicity of use aims to set it as the standard of certified data.
8. Are you concerned about the scaling issues plaguing the Ethereum network? Do you think these issues will get resolved by the time you launch your project?
Huge improvements have recently been made with the Metropolis fork, and other innovations such as POS or sharding will further enhance Ethereum’s ability to scale. Also, we are realistic, and our roadmap is in line with Ethereum’s future evolutions. But it is true that to believe in BCDiploma, you have to believe in Ethereum’s scalability in the medium term.
9. What is the native token in the BCDiploma network? What functions will this token have?
The native token in the BCDiploma network is the “BCDT Token”. It’s a “utility” token: the payment for issuing diplomas will be in BCDT tokens. Alongside with a “burn rate” system, it has been designed to gain value in proportion to the use of the solution. As BCDiploma will not create any new BCDT tokens after the ICO, BCDiploma’s token sale is a unique opportunity to join in and take part in the blockchain data certification revolution!
ICO related Questions
1. When does the main sale start and end?
Presale is running and will end when the softcap (1800 ETH, approx. $1.5M) is reached or on January, 18th.
ICO (rounds 1 and 2) will start on January, 31st and will end on February, 16th.
2. Is there a registration process (KYC & Whitelist) for participating in the main sale? Also, are there any regions that are prohibited from participating in the ICO?
Every contributors have to be whitelisted.
To invest 10 ethers or less, KYC consists to give Firstname, lastname and email. To invest more than 10 ethers, ID card/Passport scan and photo “selfie” have to be provided through the KYC procedure.
Canadian, Singapore or Chinese citizen, nor a “U.S. person” can’t participate to the token sale.
3. Are there any bonuses available during the main sale?
Presale: 20% bonus. The softcap rule includes presale.
ICO : First round: 10% bonus / Second round: no bonus.
Softcap rule: If the total amount raised during BCD’s ITS is below the softcap (1,800 ETH), investors will get the totality of their contribution back. These rules will be fully followed by BCDT’s token smart contract.
4. What is hard cap for the main sale?
The hard cap is 7,692 ETH (roughly $6.4M).
5. What is the total token supply?
150M BCDT are minted and 100M will be sold during the token sale.
6. Are the BCDT tokens utility tokens?
Yes, BCDT are “utility” tokens. As such, it has every chance of being placed on a large number of exchanges and not being constrained by the securities legislation.
7. Will the BCDT tokens be tradable on exchanges? If yes, which ones?
Discussions with exchanges have been initiated. As BCDT tokens aren’t securities, we have every chance of being listed on a maximum number of exchanges.
Learn more about BCDiploma at www.bcdiploma.com
Join our Telegram channel: https://t.me/BCDiploma
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