Over the last few years, blockchain has become the latest buzzword in the IT industry. The meteoric rise of Bitcoin could have inspired your interest in blockchain technology. It is, without such a doubt, radically modern, exclusive, and realistic use of cryptography and mathematical techniques. Or more formal words, blockchain is a public archive or an open server, that can be used by anybody that has access to the internet. This unified, public database can be used to handle any transaction involving value, assets, products, land, or even votes.
The innovative Blockchain Technology
You may have learned about Bitcoins, but this online ledger, also known as the blockchain, is included in a variety of other utilities, including credits, certificates, and credentials. This technology has a plethora of applications. Many analysts suggest that the blockchain will be used to raise taxes in the near future. With blockchain technologies, sending and exchanging money across borders would be a breeze.
Since any transaction is registered in a shared distributed ledger or a decentralized archive, the chances of transactional fraud are greatly reduced. Since it offers more safe, effective, and open ways of managing transactions, blockchain technology has the potential to become a global, decentralised source of confidence.
Real estate, stock exchanges, online computing, email technology, and authenticated voting are only a few of the promising applications for blockchain technology. The education business is another big field where blockchain technology has a lot of potentials. The remainder of this essay will discuss how implementing blockchain technologies in the education sector will benefit both students and educational institutions.
The various possibilities of blockchain Technology in the education field
- Creating a strong and better peer network
Regardless of how many educational forums or networking networks emerge, the education sector also lacks a well-organized structure that allows tutors and students to communicate with one another. Blockchain technology has the potential to close this void and provide a more reliable and open peer-to-peer network. The network would be much more reliable and authentic.
Technology specialists may build a network that allows students to communicate directly with tutors from all around the world. The blockchain platform will underpin the transfers and interactions. As a result, we should anticipate it being a far more stable and efficient network.
This could open up new horizons and opportunities for e-Learning. In such a forum, students would be able to freely communicate with tutors and request online dissertation assistance. In the same forum, they will study new disciplines, advanced topics, and fundamental concepts.
Students and teachers will connect for tutoring sessions and set their own time, cost, tasks, and other words. The smart records of such deals can be kept secure using block chaining. This will totally eradicate the need for a third party in the middle, saving all parties resources and time.
2. A solution to more credible credentials
To a large degree, online education has now become a feature of the college profession. More online courses on different subjects and disciplines are being developed by educators. Fake certifications and degrees have become more common as online education has grown. Fake certificates can occur regardless of how diligent educational institutions are.
Block chaining could be a viable solution to this problem. Blockchain technology will also be used to save the degrees that the students will get. As a result, the risks of forgery of the original degree or certifications granted by different educational establishments will be reduced.
3. A global assessment system
You may think of this as an extension of the previous use of block chaining technology. Learners can find it helpful to create a virtual copy of their degrees and certifications if they want to apply for university admissions, change careers, or relocate to a new country. Blockchain technology would allow for the safe online storage of records. Since the records will be accessible online, employers, immigration agents, and educational agencies will be able to evaluate them more easily, improving the evaluation process.
Brugu has taken the first step in this direction. They’ve created a block chaining-based technology for openly exchanging academic documents and other qualifications. Chainscript is a technology developed by the University of Texas. Its key goal would be to use blockchain technologies to build an indisputable portfolio for students. The e-portfolio would keep track of all of the students’ academic milestones, including e-credits, micro-certifications, degrees, and other skills. This would save a lot of money and time at the colleges when it comes to awarding and verifying licences and degrees.
4. The introduction of cryptocurrency
Universities and educators are getting serious about accepting Bitcoins as a form of payment for tuition. In reality, the University of Nicosia and King’s College in New York have already begun to recognise cryptocurrency as a form of payment for tuition fees. While there are only a few students in this group who have paid their fees in Bitcoins, we should assume this to be the way transfers in the education sector are done in the future.
It should be evident from the above use of block chaining technology in the education sector how immense the possibilities of this technology are. This breakthrough would be applicable to teachers, colleges, schools, universities, online learning, corporate, apprenticeships, and information bases in all sectors of the education industry. The introduction of blockchain technologies does not imply that institutions can play no part in the relationship between teachers and students. It can always improve the learning and teaching process, but education will always be a matter of faith in the end.
In other words, a school’s or college’s prestige would be significant. No matter how accessible the learning channels become, the instructional style and experience of teachers will remain critical. Furthermore, educational values and cultural norms may continue to be an obstacle to innovation. The implementation of blockchain technologies necessitates money, and whether or not a single organisation is able to spend appropriately is entirely dependent on them. As a result, we can conclude that educational growth is occurring, but not at a rapid rate. What are your thoughts? Is it possible for blockchain to transform the education industry?