Blockchain isn't just a buzzword anymore. Although it first became widely known some years ago as the digital backbone of Bitcoin, it has now come to be associated with plenty of other technological innovations, some of which are beyond the scope of cryptocurrency. People can utilize blockchain technology in countless different ways, from secure online voting to validating property ownership to self-executing documents.
Blockchain - more than just an innovation
At first glance, the concept of Blockchain seems challenging to understand. But if you think of it as a database, it will make more sense. We need to look at blockchain as a type of database that maintains a list of records in groups called blocks. Each block contains data about an individual transaction, including the sender, receiver, and amount.
Blockchain technology is making waves across all industries. From international money transfers to healthcare record-keeping. Blockchain has become the ultimate solution for the disintermediated transfer of information.
Blockchain in Education - will it be a success
Education is one of the industries that is changing with the times and growing at a rapid pace. Traditional educational models are being revolutionized by technology, and online education is a booming field. Despite all of this growth, there are some significant problems present in the industry:
- Access to educational records and transcripts
- Authentication of certificates
- The transferability of those credentials from one institution to another
Blockchain aims to solve all of these problems.
Academic transcripts can be a time-intensive task for any institution. Before a transcript can be issued, a student's grades must be manually checked to ensure that everything is accurate. This process can take weeks upon weeks, rendering it inefficient and ineffective in the modern age. With help from blockchain technology, verification can be performed instantaneously, working brighter and much more efficiently to stay up to the needs of today's high-paced society.
Certificates and diplomas
Instead of having to wait for universities to provide verified copies of academic certificates, graduates can instantly access blockchain-based certifications from anywhere with an Internet connection. This would save students and employers a lot of time and effort and prevent students from falsifying documents in order to get a job earlier.
Blockchains and smart contracts can be used to create complex functionality that makes complex processes easier. For example, a teacher could establish a custom blockchain and smart contract that automates the process of creating individualized lesson plans for students based on their particular needs.
Lower costs for institutes and students
Thanks to the innovations in education, many schools and universities can now provide their students with an interactive learning experience without requiring any physical space. This leads to lower overhead expenses for schools and universities, which could translate into savings for students, who may not need to spend years paying off loans. Students can buy Bitcoin Cash and pay for their tuition and avoid the hefty transaction fees from payment processors, as well.
Equality for all students
One of the major problems in education, in general, is that not all schools are created equal. If you're poor, you can't get to the good teachers or get into the best schools, leaving you forever at a disadvantage. By applying Blockchain, these students might get access to really great teachers or educational resources, making them equal to students who are born into privilege.
Academics in the sciences and humanities constantly generate insightful research. But the road to publications is a hard one — in fact, much of this insightful research is rejected by the journals it's submitted to because of its impact factor or insufficiently rigorous methodology. Blockchain helps solve this problem by assisting labs to publish their content directly to communities that are ready to consume it.
What could Education bring to Blockchain?
We usually spend much time highlighting blockchain use cases in education. The truth is - if Blockchain helps education, education can return the favor. It can raise awareness of the cryptocurrency market's potential to establish new projects and refine blockchain technology. Students are the best investment in the digital world.
A new generation of students with high education levels is the key to the future success of blockchain technology. Students are an invaluable resource for creating a better tomorrow, and businesses can help them get started by investing in student-run projects.
Today, blockchain technology is being used for considerable initiatives in the education and banking sectors. Blockchain is already being used in the education sector or is on its way to being used to improve bespoke learning — allowing students to move through educational programs at their own pace and ensuring they'll receive assistance when they need it. It is here to make a change. And it is already making it.