SINGAPORE, June 14, 2018 /PRNewswire/ --
CREDITS CEO and Founder Igor Chugunov and Business Development team took part in StartAP Awards, an annual ceremony that honors the most successful entrepreneurs in India. The event was held in Visakhapatnam, Andhra Pradesh, an informal blockchain capital of the country.
CREDITS used the occasion to present a unique blockchain-based solution that can prove to be a breakthrough improvement in the human capital management system to the Government of Andhra Pradesh represented by Ganta Srinivasa Rao, Minister for Human Resource Development and J A Chowdary, Advisor IT and Special Chief Secretary to Chief Minister. The technology implies that a State Data Register with client ID will become a reliable storage system for the educational, research, and labor-related documents. The system would be accessible to recruitment agencies, social services and related state bodies. The systematic approach, common document format, safe information storage, guaranteed document authenticity and easy access to them given only to authorized personnel can play a key role in labor market development of an Indian state with a population of 53 million people.
As a result of the meeting it was suggested to set up a working group including CREDITS experts along with Indian universities.
Following the meeting CREDITS team visited Gandhi Institute of Technology and Management (GITAM), one of the leading research centers of Andhra Pradesh, chosen as a potential testing ground for the pilot project. Having made a tour of the university, CREDITS in depth discussed the opportunity to develop a blockchain training program and sponsor a hackathon among local students.
Singapore-based CREDITS is a public blockchain platform with an open source code, capable of performing up to 1 million transactions per second. It offers the processing speed of 0.01 of a second while the commission rate is as low as ≈ $0.001. The extended functionality of CREDITS smart contracts makes it possible to set cycles and create schedules. This instrument implemented in the form of API with the SDK kit will enable the platform users from finance, IoT, health care, tourism, gaming industries to implement their in-house fully autonomous and self-executable service apps.