CBS Moneywatch just called digital badges for learning and Mozilla’s Open Badges project “a thrilling and much-needed development that could shake up the monopolistic higher-ed world.”

The traditional college degree may not be as necessary in the future if the concept of so-called digital badges takes off. People who earn digital badges signify to employers what their skills and knowledge are regardless of whether or not they possess a degree.

The digital badge endorsers, including Mozilla, which is involved in the effort, envision that badges could be awarded by online and open-courseware providers, companies, community organizations, professional groups and even colleges.