KOCHI: In today’s goal-oriented world, education is undoubtedly the most valuable asset for the younger generation. However, the hurdles that stand in the way of securing education often go unaddressed. This is the thought that led to the founding of Sernez.io, a blockchain startup from Kochi that has introduced the world’s first revolutionary peer-to-peer lending platform for education loans and scholarships.
“Sernez endeavours to provide the most accessible and affordable education loans based on the skill profile of the students rather than collateral security. It has been envisioned to help students achieve greater financial wellness. In this era of globalisation, where finance and talent acquisition are still not globalised, Sernez transcends geographical borders to democratise finance and opportunities for students all over the world,” says Sernez.io co-founder Rahul R Pillai.
Sernez.io recently signed a memorandum of understanding with Saintgits Group of Institutions, making it the first blockchain company in the world to implement a blockchain-based scholarship programme in a live environment.According to John Jacob, COO, of Saintgits Group of Institutions, implementing Sernez will help over 3,500 students in our institution gain access to scholarships from around the world on the blockchain and bring transparency and authenticity in the scholarship process by reducing human intervention through the use of smart contracts.
The association with Saintgits is aimed at implementing scholarship programmes and processing them through a blockchain enabled platform.Through the platform, students can easily apply for various scholarships and are ranked eligible using its Student Performance Quotient (SPQ).
SPQ is a proprietary AI algorithm developed by Sernez which assigns a value to each student based on their academic and performance attributes.The first-of-its-kind initiative comes as a giant leap in integrating the education sector in India with the blockchain.