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5 Things Blockchain could Change the Face of the Education Industry

As you’ve landed on this blog, you probably know what Blockchain is. But if you don’t know, just click here for its super-easy explanation. In the previous blogs, we covered the industries that are set to be revolutionized by the mighty force that is Blockchain technology. We were thrilled to get amazing response from our readers. Taking our previous posts further forward, in this blog, we’re going to talk about the disruptive effect of Blockchain could have in the Education sector.

Let’s see the five distinct ways of Blockchain for education industry.

Indestructible Paperless Records

The thing about Blockchain is that once you store data using keys, it cannot be deleted/modified by any unauthorized entity. In other words, it’d stay there forever. This characteristic of Blockchain could prove to be highly beneficial when it comes to storing student records. Instead of storing it in a centralized system, Blockchain could help securely store data such as degrees and certificates.

In some parts of the world, such data is still stored in hard copies. This is harmful from an environmental point of view as well as from the security point of view. What if the whole record-keeping building gets burned down? It sounds funny, but it could happen. If the records are stored cryptographically through Blockchain, such disasters could be avoided.

Verification of Records

Remember Mike Ross from the TV Show ‘Suits?’ Well, had the Harvard University stored all the records via Blockchain, Mike Ross wouldn’t have got the job and the show wouldn’t have been created. Jokes aside, bogus degrees or bogus certificates are certainly a reality. Even with the stupendous rise of technology, we haven’t been able to deal with such forgery of degrees.

Enters our hero, Blockchain.

With Blockchain all the data can be stored cryptographically in a centralized database and the verification of degrees and certificates could be done in a second. Institutions and companies could potentially verify a person’s degree with a single click.

And you know what? This is already happening.

Sony Corporation and Sony Global Education, with the use of IBM Blockchain, have made a system in which they’ve stored data of students from different schools. The recruiters can verify the details of the applicant with a single click. That’s the power of Blockchain, my friends!

Decentralization of Education

In the past decade, the education industry has moved leaps and bounds. If anyone wants to develop a new skill, he/she just has to Google it and can get tons of options to choose from. As good as this system is, there are still flaws in it.

Most of the courses have one teacher per course. It means that one teacher teaches the class from start to finish. But that teacher has to enroll for that particular website the same way a student does. The student pays the fees and a good part of his/her fees goes to the website – the middleman. This increases fees considerably. With Blockchain, this middleman can be eliminated up to a great extent.

There is an idea called ‘On-Demand Education Marketplace (ODEM)’ floating around. This idea/technology, using Blockchain, could potentially remove the gatekeepers in the middle, allow the students to contact the teachers directly, and decrease the fees significantly. Sounds awesome, doesn’t it?

E-portfolio of everyone

If you’re an employer, there must be a concern in your mind regarding the legitimacy of a candidate’s achievements and credentials. Sometimes, a candidate can list a thousand things on his/her resume and there is no way to verify them. Using an e-portfolio, a student’s credentials apart from graduation could be updated. Details such as extra courses, projects, internships, volunteer work, etc. could be uploaded to a centralized database and verifying them could become a piece of cake. Interesting, right?

Easy payments

This might seem a bit far-fetched and rightly so. But there is a strong possibility that cryptocurrencies will become a reality. If they do, they could make the entire payment process much easier for the students.

If the institutes start accepting payments in cryptocurrencies, the intricacies of opening a bank account, and currency rates could be circumvented. For international students, this could turn out to be a boon.

Comments ( 9 )

  1. This is so interesting. I would never have thought of using blockchain for education. It could alleviate so many problems.

  2. This kind of technology is fascinating! It’s interesting that universities use it in recruiting. I’m sure in the end, it’s very helpful.

  3. So interesting! I teach part time, so this intrigues me for sure. It seems convenient for a school to have!

  4. I think this would be very beneficial to everyone. It will make online transactions safer and verification of records would take the least amount of time. No more long waits, and less fraud.

  5. The e-portfolio was something always present on my career as a nurse and they really make sense. Not sure about the cryptocurrencies, they still very confusing to me!

  6. This is really insightful, i have never really looked at things that have to do with cryptocurrencies twice because of the bad experience i had the first time i went into it. Thanks for the insight.

  7. I’ve never heard of blockchain before. Its really insightful and can really help alot of families and older students. A really interesting post!

  8. Oh this is so interesting! I have never heard of the e-portfolio before so this really opened my eyes thank you!

  9. Wow… this post is clearly enlightening me about the progress of our information technology. So many points make sense to me like ‘E-portfolio of everyone’. Thanks for this great post!

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