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For a couples of week I've been reading about blockchain, more specifically hyperledger composer. I want to build a blockchain based academic certificates using hyperledger-composer like one of these:

None of the above blockchain technology uses hyperledger, except for SonyGlobal Education.

To begin with, I've 2 participants the Institutes and Students, I've 2 assets called Certificate and Request. The student first creates a request asset through a transaction, upon receiving a request, the institute creates a certificate of the student.

My dilemma is whether this approach is correct or not. If not then what could be an asset in this case, who all will be the participants, how do I generate private keys and public keys to check the authenticity of the certificate.
Please guide me through the approach. Also, all the material I find just gives an abstract of the technology and none goes deep. Please suggest some docs/tutorials of hyperledger-composer with good examples in real project scenario.

Edit: Just came to know about Hyperledger Indy. As per my requirements, shall I be using Hyperledger Indy instead of Hyperledger Composer ?

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Your initial modeling ideas with Assets and Participants seem to be quite reasonable.

Hyperledger Composer has a series of Tutorials starting with the Web-based playground tutorial. While using Playground, you will see that there are 10 Samples that you can browse for experience and ideas.

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