For more than 100 years, the K-12 school experience has been captured and recorded as a series of grades and results from high-stakes exams as defined by the school itself in graduation requirements and/or external organizations like the AP, IB or Cambridge.
There are a lot of issues with this approach, from the lack of personalization, focus on discrete disciplines, and focus on academics as opposed to skills.
In recent years there has been more thinking across education about how to rethink credentialing and how to make it more student-centered, promoting transdisciplinary learning & 21st-century skills and more.