UPDATED 15:14 EST / FEBRUARY 05 2020

BLOCKCHAIN

Content delivery firm Hyland acquires blockchain-credential startup Learning Machine

Hyland Software Inc., an enterprise content services provider, today announced the company’s acquisition of blockchain-anchored document credential solutions startup Learning Machine.

Learning Machine is a startup that has pioneered the use of distributed ledger blockchain technology to authenticate documents and content. Using its credentialing solution, companies can create and share blockchain-secured digital records that are controlled by the recipient and independent of vendors and verifiable anywhere.

Blockchain technology provides a trustless infrastructure by securing transactions in a distributed ledger that uses consensus among multiple parties to make records tamperproof. Blockchain technology also uses advanced cryptography to verify transactions, which can be attached to documents using cryptographic hashes to show that the document has not been tampered with since it was inserted into the blockchain.

The Learning Machine Issuing System allows any organization to attach verification to records, import recipient data, issue records and manage their entire credentialing lifecycle. The system is designed for any organization in need of security at scale including governments, companies and educational institutions.

“This acquisition is a major step toward our goal of revolutionizing the way organizations electronically exchange trusted records,” said Bill Priemer, president and chief executive of Hyland. “The addition of Learning Machine’s digital credentialing solutions to Hyland’s content services platform will enable our customers to generate and manage digital documents that are both easily shareable and instantly verifiable.”

Hyland provides case-by-case content management solutions and process automation between different parties that often need to authenticate secure documents.

Using blockchain technology, it’s possible to record the authenticity of a document in a transaction so that it can be verified later. Every time the document is modified or changes hands, that becomes a transaction added to the blockchain, creating a digital provenance that greatly simplifies record-keeping and lowers errors.

“The use of blockchain technology for digital credentialing has become an increasingly urgent need as governments, educational institutions and organizations seek to combat fraud, mitigate risk and relieve administrative burdens associated with the exchange of content,” said Chris Jagers, chief executive of Learning Machine.

One common use for Learning Machine’s technology is the issuance of digitally secure diplomas and educational transcripts. Hyland already provides services for more than 900 such institutions and these organizations will benefit from Learning Machine’s blockchain platform and authentication technology as a result.

The two companies declined to release details on the amount of the acquisition.

Hyland will continue to support blockchain platform development by Learning Machine and the company’s current solutions for customers even as it integrates the technology into its own products and services.

Photo: Pixabay

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