Blockchain and NFTs in the Education sector (Part 50)

Welcome to the 50th part of the 100-part series on Blockchain.

Education is an amazing tool that can be used to change the world and facilitate one’s purpose in life. Blockchain technology and have the potential to revolutionize this field as well.

NFTs in replacing paper documents

The biggest advantage of blockchain in education is storing the education credentials in digital format in a safe and secure way. In the traditional education system, all the education qualification certificates, including school certificates, higher education certificates, and other skills certificates, are kept on paper. Having all of these documents on paper poses many challenges. Imagine a scenario where your file containing all these certificates gets lost or stolen. In such a scenario, the first risk you may face is unauthorized use of your documents. The second biggest challenge will be running from one department to another to get another copy of your documents. Won’t it be great if you could store your documents online safely and securely? This can be done by document tokenization, which means converting documents into digital tokens known as NFTs and recording them on a Blockchain network. However, storing all the credentials on Blockchain is very expensive and consumes a large amount of electricity. Therefore, the certificates are stored on decentralized IPFS, and their ownership provided in the form of NFTs, is stored on the Blockchain. The smart contract of NFTs contains a link to the education qualification certificates stored on IPFS. The NFT awarded to each student will be unique and different from others. Once stored on Blockchain, NFTs become immutable and can never be lost or replaced.

Duke University is among the first institutions that has provided educational credentials as NFTs to the students who have completed their Blockchain course on Coursera in 2022.

The NFTs representing credentials like diplomas, degrees, etc., are stored in a digital wallet that serves as a person’s educational profile.

NFTs in verifying documents

Getting proper education is obligatory for obtaining a job. Each employer has specific qualification criteria for each job that they float into the market. As a job candidate, you have to show your credentials and certificates to prove your qualifications. And these days, frauds and forgery of education credentials to match one’s qualifications are on the rise. These cases of frauds and forgeries can easily be mitigated with the help of Blockchain technology as the data stored on the Blockchain is immutable and can easily be verified. The candidate can share NFTs (representing the education credentials) with the employer by encrypting some, or all, of the data held within the NFTs to provide privacy-preserving features. To view data within the token, the employer requires a code to decrypt the NFT, which could allow read-only and single-use access rather than allowing him to edit or grant indefinite access. In this way, the employer can verify the legitimacy of a candidate before hiring him or even before considering him for an interview. An additional advantage is that it stops anyone from falsifying their academic certifications. The NFT token would act as a unique digital fingerprint.

NFTs in Online learning

Blockchain technology can revolutionize the whole education system. Today students not only receive education in formal settings of schools and university lecture halls, but the informal educational settings have been widely adopted by the student community. There are a plethora of online courses, workshops, conferences, boot camps, and a lot more to enhance one’s skills. The platforms offer certificates in printed form or as a digital badge; the biggest challenge has always been verification, as well as assessing the value of the credential. But what if online platforms and universities offer course completion certificates in the form of NFTs? These educational NFTs do not have a monetary value, but they prove the student has passed the course and contain unique details about the course syllabus and the performance of the student.

If you liked this article and want to know more about Blockchain, NFTs, Metaverse, and their applications, click the below link.

Happy learning!

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