DEFI MOOC Course Uses Privacy-Preserving NFTs On Oasis Network

DEFI MOOC has awarded its students NFTs and badges as credentials for pursuing a course. The great thing about NFTs handed over to the students is that they are privacy-preserving and powered by Oasis Network.

They leverage Parcel to verify the credentials while keeping the user information private. The Parcel is Oasis’s secure data governance API, and the functioning behind keeping the user information private is pretty interesting.

MBuddy stores the achievement badge as a Soulbound Token. This is a permanent and non-transferrable NFT that can be obtained by students only by providing a randomly generated UUID string to the team of DEFI MOOC. Once provided, the UUID String becomes a credential ID which is stored with MetaMerror in the respective Parcel account.

The interlinking between the two remains private, and it is directly uploaded to a user’s parcel account, which is then protected by TEE, short for Trusted Execution Environment technology.

NFTs and badges are issued to students with the help of MetaMeta, which runs its algorithm inside Parcel to access the mapping. Meanwhile, Parcel enforces privacy through TEE. MetaMirror and Parcel collaborate on another level where MetaMirror calculates the certification attribute followed by Parcel signing the result to prove that the MBuddy attribute has been calculated in Parcel.

Non-Fungible Tokens, famously known as NFTs, have taken over the market as digital assets hold the majority of the growth potential in the future. As the world moves towards decentralization and Web3, there is a growing need to have NFTs with more functions, including protecting the holder’s privacy.

DEFI MOOC is young, with the first lecture presented in August last year by dignified personalities including Professor Song, Dan Boneh from Stanford, Christine Parlour University of California (Berkeley), and Andrew Miller (University of Illinois Urbana-Champaign).

The course has gained tremendous traction now as it has successfully attracted thousands of students from 30 countries across the world. Lectures have over 130k views at the time of writing.

The verifiable proof of completion remains intact, while users can keep their data private from teaching staff and others who view the NFT certificate. With times changing and the world moving towards a more advanced future, there is a dire desire to have a tradable NFT and a non-tradable certificate.

NFTs are the digital assets that have come out in a strong manner for artists to support their endeavors. The meaning of NFT is now evolving with a rise in utilities and real-life applications.

Privacy-preserving NFTs are touted to change the world for something better. There is still a question if the functionality will remain restricted to the current project or if it will expand to other projects.

Needless to say, NFTs will take the generation by storm in the times to come, with more functionalities being added almost every month. Assuming privacy-preserving functionality is implemented on a wide scale, one can expect more such functionalities to make their way into the industry.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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