What is Blockchain?
Blockchain is a scattered database which spreads across several computers. It does not have any central control. Â Utilization of blockchain in education sector can transform organization functioning, economy and business.
Each block can represent recorded transactions. These are transparent but tamper-proof. Â Thus, there is no need to rely on others for the proof. One can have the date, time and other relevant details included with each transaction that can be verified through smart mathematics.
Ways to use Blockchain in education sector:
It is one of the most effective inventions which can be utilized in education sector. Here are some of the ways in which one can observe the transformation through the utilization of blockchain in education sector.
Digital Certifications and Degrees
It is easy to make fraudulent degrees with latest technologies these days. Such fraudulent degrees are undetectable. Blockchains can issue unique digital assets which can authenticate the credentials of academic certifications and degrees. Therefore, utilization of blockchain in education sector can support in identification of digital certifications and degrees.
In such way, potential employers can validate the certifications and degrees along with saving money and time. To address such issues, Learning Machine is working since ten years. Stampery and Gradbase are some of the competitional projects.
E-Transcripts
Slow speed and high fees are some of the issues associated with requesting transcripts. Working through Blockchains can save money as well as time and this would be the tamper-resistant method to store susceptible information.
Transcripts can be protected even in case of natural disasters or server failures. Therefore, every institute is preferring blockchain in education sector these days. For instance, IBM and Sony Global Education are working to develop a platform which can utilize Blockchain to share and secure student records.
Cryptocurrency as payment method
Facilitation of payment without any middleman was the foremost thing associated with the development of Bitcoin. This was the reason why some of the universities such as Simon Fraser University in British Columbia, King’s College in New York have started receiving payment through cryptocurrency. Use of blockchain in education sector as payment methods reduces time and money as there is no involvement of middleman.
Management of Identity
Blockchain in education sector can help in management of identities of students. It can help in prevention of fake school IDs.
Cloud Storage
Educational sector is known to impart cloud storage online to faculty and students in order to encourage collaboration. The existing cloud storage platforms such as Amazon Cloud and DropBox are expensive and this cost is generally transferred to students in form of tuition fees.
If an institute starts using Blockchain based storage, it would reduce the price of cloud storage. For instance, Filecoin and SiaCoin are known as Airbnb due to its low cost in comparison to the traditional forms of storage platforms.
Conclusion
Blockchain in education sector has diverse applications due to which it is being preferred these days. It can save money and time along with providing tamper-proof identity. One can trust the degrees and certifications developed through Blockchain as each has a unique ID. It can also be used to provide cloud storage.