How Blockchain can Redefine the Dynamics of Education
“Education is the only business still debating the usefulness of the technology.” — Rod Paige
The current evolution of Blockchain technology has made a substantial impact on a lot of industries. With more and more sectors willing to accept the advancement with open arms, it becomes imperative to reimagine and reanalyze how it can transform the fundamental root of anything- the traditional education structure.
Efficient management and recording
Blockchain has already found its applications in the world of education. In 2017, the University of Melbourne started issuing degrees to students using Blockchain, enabling them to share it securely with employers and other third parties. This practice is, in fact, the most ambitious execution of Blockchain in education. Blockchain can promise a more efficient way of keeping records of degrees and certificates. It can then be directly shared with students safely, securely, and easily digitally, thus eliminating the need for an intermediate for verifying purposes. Technology will also end up making the management department of any institution more proficient.
Increased transparency and simplicity
It is not unknown that during employment processes, CV deception is highly prevalent. Blockchain will be utilized to make a digital summary of all achievements in a prospective employee’s record, making the entire procedure fair and square. The same operation will also be making transfers between universities, cities, and even countries more straightforward. Even here, the need for an intermediate for verification purposes is eliminated, creating a transparent and better-governed environment.
Smart Contracts
DLT can be used to automatically hang agreements once a set of specified conditions are met. These “smart contracts” have been hidden to reduce paperwork in many sectors, including education.
A list of student and teacher “check-ins” are crucial to achieving a set of smart contracts that approve attendance and assignment completion. A check-in could be as simple as clicking a button on a phone app, but it runs a smart contract that pays the teacher and provides micro-credits to the student.
DLT could facilitate distributed learning schemes. A state or institution could capital a student’s account using blockchain-based smart contracts and provide all the funding up-front. The smart contracts would release it when specific criteria are met.
Enhanced institutional models
Blockchain can help achieve a more orderly educational model for schools and institutions. Via Blockchain, administrative tasks can be automated. It can assist in securing the data of students and teachers. Recruitment can become easier due to data feed in the Blockchain. The outcome will help reduce cost, generating lower student fees and, perhaps, higher faculty wages. Woolf University is already aspiring to be the first blockchain-run university in the world. They have stated that in terms of finance and management, Blockchain will also help evaluate student projects and assignments through Blockchain Spectrum that will guide a teacher in determining whether a student’s work is adding any real value or not.
As a company, we have been working towards adding value to India’s blockchain ecosystem by contributing not only through our enterprise solutions work but also through our learning and development division. We have built platforms to accommodate multiple use cases and deliver our solutions through robust partnerships with industry leaders.
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By Pragya Sharma
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This is a post in our on Medium blog, ‘Blockchain for Everyone’.
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