10 Roles Of Blockchain In The Education System
Blockchain technology was introduced with Bitcoin — the first cryptocurrency and even today many believe that blockchain = cryptocurrency. Blockchain is a technology that is used as an application for cryptocurrency to function, similarly, blockchain can be used in various other industries too, such as, Healthcare sector, Banking, Tourism, Law enforcement, and so forth.
In this blog, we are going to discuss 10 roles of blockchain in the education system:
Blockchain technology is a decentralized distributed ledger. It is a secure platform, needs consensus, eliminates intermediaries, immutable, smart contracts, and so forth. The elements of blockchain can be a beneficial approach to the education system. For instance, every node has the exact copy in the network, which is constantly verified along with the old transactions while adding the new block in the blockchain. It helps sustains the effects of compromises otherwise made by a centralized technology.
- Maintaining a record of all the academic transcripts is time-consuming, consumes extensive work, and requires a manual job for every entry placed in the database. It also involves maintaining a complete record of the students from the beginning of the institution and has to be shared with the other institutions and universities, and when not maintained properly and correctly it can create a lot of hectic and chaos in the system. On the other hand, blockchain can help resolve this chore as all the data stored in the blockchain is verified, and the user will be able to view all the data ever added to the system.
- Blockchain technology can also enable to add of the student’s academic record, certificates, and achievements in the system.
- Blockchain can also be eco-friendly as usually when all the institution has to share the student’s record to other institutions or universities, it involves paperwork and paper copies. With blockchain, the data can be shared through the link.