Benzinga | May 27, 2021 08:33AM EDT

Ambow Education Launches Blockchain-Based 'Career-oriented Skills Recognition System'

Ambow Education Holding Ltd. ("Ambow" or "the Company") (NYSE:AMBO), China's leading provider of educational and career enhancement services, today announced it has launched a career-oriented education skills recognition system (the "System"), based on blockchain technology.

The System is central to the Company's ongoing emphasis on technological advancement. As blockchain technology matures, an increasing number of companies are adopting and embracing it to empower the innovative development of their industries.

Under the traditional education model, a diploma or degree is the only proof of a student's knowledge, ability and learning experience. However, against the backdrop of deepening integration between industry practices and career-oriented education, a student's personal growth and development demands in career-oriented education are different in terms of complexity and particularity from other education types. Both vocational qualification certificates and academic certificates are important references for evaluating the abilities of career-oriented education graduates. Ambow's career-oriented education skills recognition system came into being in a bid to further improve and optimize the assessment of a widening talent pool.

With this blockchain-based System, all information is transparent, reliable, secure and safe. Students can save reports of their personal skills and competences on the System and use these reports to promote themselves widely among their peers and in the talent market, but they cannot alter the information. The System features the decentralization characteristic of blockchain, making it fair and just for further promotion and application. Ambow will first carry out trials of the System on approximately 30,000 students from 60 universities and vocational schools that closely collaborate with Ambow. Following the successful trials, the Company will further extend use of the System to millions of students in application-oriented universities and vocational schools across the nation. Looking ahead, the System's services for external users will be available at a reasonable rate. Meanwhile, the use of big data on the platform will drive student cultivation and enterprise talents strategy as part of the integration between industry practices and career-oriented education.

Dr. Jin Huang, President and Chief Executive Officer of Ambow, commented, "The combination of blockchain technology and career-oriented education demonstrates our ability to apply and utilize advanced technology as we pursue new ideas and methodologies to boost career enhancement services while improving the quality of career-oriented education for talent cultivation, vocational school management capabilities and the efficient utilization of educational resources. It also creates more possibilities to compensate for limited skills recognition systems as well as educational supervision and resources in the development of career-oriented education."