Building a Skills-Driven Economy with Digital Credentials

Q: How did the idea for Acreditta emerge, and what specific problem does it aim to solve in the management of academic and professional credentials?

A: The creation of Acreditta follows my experience as a Venezuelan migrant in Colombia and the trouble I faced in obtaining a work certificate. Acreditta facilitates this process by allowing individuals to take control over their credentials. We transform traditional certificates into digital, verifiable credentials that are portable, globally accepted, and easily accessible. These credentials give individuals ownership and control. They comply with global technological standards, making them universally accepted and verifiable in real-time. 

Q: How does Acreditta leverage blockchain technology to ensure the security, authenticity, and scalability of the digital credentials it issues? 

A: Many associate blockchain with cryptocurrency, finance, or Bitcoin. However, its use in education, particularly for certificates, adds a layer of trust. Blockchain ensures that credentials are immutable, making them resistant to hacking or manipulation. Another key feature is the decentralization of verification, which means that a third party can verify the credential at any time, without needing to contact an academic registry or HR department.

In traditional systems, verification relies on a specific person who responds to calls or emails when they are available. With blockchain, the verification process becomes decentralized so anyone can view them and confirm they are authentic. Blockchain also turns credentials into a digital asset owned by the student or professional, not the institution. If a university or company ceases to exist, the credentials remain registered on the blockchain and can be verified at any time.

Q: What reasons are driving the adoption of digital credentials?

A: Digital credentials are increasingly becoming the new standard. Acreditta began working on them in 2018 when they were still relatively unknown. Over time, this approach has gained traction, and universities and academies are realizing that professionals need a digital record of their achievements tied to global standards. Unlike traditional certificates, which typically contain only a title like "Administrator" or "Engineer," these digital credentials provide much more detailed information. They include the name, description, skills developed, the steps taken to achieve the credential, certification criteria, and even supporting evidence like a portfolio of completed projects. This makes the credential not only portable and shareable on professional networks like LinkedIn but also a verifiable record of the individual's abilities and concrete deliverables.

As recruitment processes increasingly incorporate AI, digital credentials become essential. AI agents cannot process physical diplomas or certificates, but they can read interoperable, digital documents, enabling efficient filtering and selection of candidates. This makes these credentials compatible with recruitment bots and algorithms.

As of February 2023, over 74 million Open Badges had been issued globally. Since 2018, we have grown from just one client to over 200 organizations in 15 countries, working with more than 80 universities. As the market continues to adopt this model, new use cases for digital credentials are emerging every day.

Q: What trends are driving the growth and adoption of Micro-credentials in Latin America?

A: Microcredentials certify skills or competencies as students advance through their education programs. The goal is to allow students to demonstrate their competencies, such as teamwork, leadership, or technical skills like Python programming, to the job market before they graduate. This way, they do not need to wait four years for a formal university credential to prove their abilities.

This shift addresses a major issue in Latin America: skills gaps. Graduates often struggle to find work, not because they lack the skills but because they cannot demonstrate them. Traditional degrees do not reflect essential socio-emotional skills like creative thinking or conflict resolution, which employers increasingly seek. Micro-credentials thus help students document and communicate their competencies in a way that employers can trust, ultimately improving employability.

Acreditta is helping bridge this gap by not only certifying traditional degrees but also offering Micro-credentials for social and technical skills that can be stacked to form larger certifications. Some regions are beginning to develop laws to regulate Micro-credentials, such as Guanajuato, with Acreditta playing a role in this process. The model is maturing and gaining regulatory support, with countries like Mexico and organizations like UNESCO and the Inter-American Development Bank (IDB) providing frameworks.

Q: What are your plans for expansion in Latin America and beyond?

A: Acreditta is strongest in Mexico and Colombia, which together account for nearly 50% of the company's revenue. The company is also expanding across 15 other countries in Latin America, including Ecuador, Chile, and Peru. It also started operations in Brazil, Spain, and Portugal. The company focuses on Latin America due to its large population, which includes over 300 million workers. While Brazil is part of Acreditta's expansion plans, the primary goal is to strengthen our position in Mexico, which has immense potential.

This year, Acreditta plans to increase its revenue by 40% to 50% compared to last year. Acreditta currently has 182 clients, including 80 higher education institutions. By 2025, the company expects to expand its university client base to over 100. We not only focus on the number of clients but also on the impact and the audience within these universities, especially public institutions in Mexico and Colombia. These institutions are seen as crucial for addressing the social mobility needs of students who may not have access to more prestigious private universities.

Acreditta is prioritizing public universities, where the demand for digital certifications is highest, helping students gain employment and improve their social mobility. The company also aims to significantly increase the number of credentials issued, potentially doubling the amount from the previous year.

Q: What type of strategic partners is Acreditta seeking to expand the adoption of its platform in Latin America?

A: Acreditta has formed strategic partnerships across various sectors to enhance its impact and reach. In Mexico, the company has collaborated with higher education associations, such as the National Association of Universities and Higher Education Institutions (ANUIES) and ASCUN in Colombia, which represents a wide range of universities. Acreditta also partners with HR associations to ensure that the value of digital credentials is recognized and incorporated into recruitment processes.

Technological collaborations include a key alliance with LACChain, which provides the blockchain infrastructure. Additionally, Acreditta can be integrated by virtual learning platforms, automating the issuance of credentials when students meet specific learning criteria. This integration helps universities streamline their processes by connecting Acreditta with the various educational platforms they use, eliminating the need for isolated systems.

The company also seeks to expand its visibility and audience through marketing partnerships with other education or HR startups. The company also maintains relationships with the public sector to further its mission and explore growth opportunities.

Q: How does Acreditta envision the evolution of the credential management system in the coming years?

A: The market is evolving toward the development of the Comprehensive Learner and Employment Record, a dynamic and verifiable profile that combines academic and professional achievements. This record will allow individuals to store all their accomplishments in a single, online, and real-time format. It will include everything from school diplomas to university degrees, professional certifications, and achievements from various courses and bootcamps. This integrated profile will replace traditional resumes and become a more standardized, verifiable format for showcasing a person's life-long accomplishments.

HR software systems are already moving away from traditional resumes in Word or PDF and are connecting directly to digital credential wallets, automating the recruitment process. This transition is driven by the rise of AI-powered recruitment tools that prioritize verifiable credentials over unfiltered resumes. The market is shifting toward a skills-based approach, where certifications in specific technologies or platforms may be more important than a traditional degree.

As recruitment becomes increasingly automated, HR professionals are focusing on verifiable credentials to avoid being overwhelmed by automated applications from bots and AI tools like ChatGPT. This shift represents a move away from degree-based qualifications to a broader emphasis on skills, micro certifications, and a collection of digital credentials that reflect a person's real-world capabilities.

Q: What steps is Acredita taking to drive this evolution across Latin America?

A: About 46% of universities in Latin America are already offering microcredentials. Of those that do not offer them yet, 75% plan to do so within the next five years. This indicates that this trend is not only growing but is proving also essential for providing evidence of the abilities individuals acquire. Therefore, higher education is increasingly focusing on enhancing employability, not just through content, but by providing globally accepted evidence.

While adoption has not yet reached critical mass, the shift is inevitable. Our commitment is to continue influencing policymakers to create a common recognition standard across Latin America. Ultimately, we aim for a shared language around skills, rather than solely focusing on undergraduate degrees.

Acreditta is a leading Latin American platform for issuing blockchain-secured digital credentials that are easily shareable and verifiable.