How Blockchain Industry Create Impact on Education Sector

Back in the day, “blockchain” was not a common term. The financial industry is using it at an exponential rate this day. It has been expected to use the terms blockchain and cryptocurrency interchangeably. Do blockchains have applications in other fields, such as education? Yes. Blockchain is often linked with digital currencies such as Bitcoin. The data entered into a blockchain are kept in blocks that are chronologically linked, making it easy to track the origins of the data and confirm its validity.

Blockchain is useful in healthcare, land documents, and education, as it is a safe global ledger. Blockchain in education has two benefits: data security and protection. This industry can be transformed by blockchain technology. In this article, Let’s look at how blockchain technology can revolutionize education.

Blockchain And Education: The Future - eLearning Industry

How Blockchain is Affecting the Education Sector?

As the world becomes increasingly digitally advanced, disruption is inevitable in the education sector. EdTech has been a boon to us for the last twenty years. This has led to a modernization of the education system. Now is the time to use blockchain technology in a big way. Textbooks are rapidly replaced by technologies such as the distributed ledger blockchain, Artificial Intelligence, and Machine Learning (ML). See how blockchain technology can impact teaching and learning.

1. Helps with the Verification and Accreditation of Student Information

Blockchain technology is transforming the archive of student certificates and qualifications at schools and universities. This technology eliminates the need for intermediaries when verifying qualifications, licenses, and diplomas.

Blockchain technology is used to support the accreditation of academic institutions. It is challenging for many countries to certify all or most educational institutions. Blockchain technology has made it easier than ever to verify the standard and qualifications of education provided by most academic institutions.

2. Digital Badges and Credentials

Blockchain is used to create secure digital certificates and badges that can be displayed and verified on digital portfolios. Smart contracts can facilitate and incentivize peer-to-peer collaboration and learning. Students are rewarded for participating in online discussions or providing feedback to their peers. It can create an interactive and engaging learning environment and encourage students to develop critical thinking and communication abilities.

3. Ultra-Modern Learning

The days of students sticking to their school curriculum are gone. The education system is evolving as the world does. Today’s students want a more advanced learning experience. This type of education is not available through the traditional education model. The blockchain-based educational technology allows students to learn about the topics/subjects that are currently in fashion.

4. Incentivization of Education

Blockchain professors will soon be able to reward students with cryptocurrency if they do well or finish a specific major. Academic institutions will motivate students to pay off their student loans on time. The gamification element of the tokenization teaching methodology can also change the learning-teaching process.

5. Keep Student Records

Fake certificates based on counterfeit degrees have become more common with the rise of online education. Many businesses and educational institutions are concerned about this issue. A blockchain is a great way to solve the problem of certification management. Students can easily share these credentials using the exact URLs within their email signatures and social media profiles. Many blockchain development companies offer certificate and identity management solutions. As blockchain is decentralized and transparent, all documents are stored there.

6. Online Education Decentralization

Students worldwide can now enrol in online courses offered by educational institutions. Students can enrol in online classes at any school. Accuracy and credit are essential factors to consider when choosing an online program.

Many educational institutions have their standards and guidelines. Many inform their students about the number of credits and mandatory courses. Educational institutions can use blockchain technology to ensure an open online education. Blockchain decentralization of online education will allow students to control their courses, fees, and the alignment between the institutions. They could receive a degree such as a Bachelor’s without being limited to just one or two institutions.

7. Universal Access and Lower Cost

Blockchain technology allows universal access to educational resources such as books, podcasts, and movies in the public domain. These resources are freely used and redistributed, supporting lifelong education. Blockchain allows for the secure and affordable sharing of educational resources on a public network. Students from remote locations can also take digital exams and courses through blockchain. Educators can grade the students on the blockchain.

8. Convenient Learning

Learning should be easy and simple when students need help accessing certain educational materials. Education has been made easier with the use of modern technology – namely, blockchain. Modern devices such as smartphones, laptops/desktops, and iPads make it easy to access information.

Metaverse, a technology other than blockchain, is also responsible for creating an immersive learning environment. It is a way to enhance learning in the virtual environment with captivating graphics. These graphics are in 3D and help students thoroughly understand the subject.

Conclusion

As blockchain records are permanently stored, documents like degrees and certificates of completion are verified and secured, even if a user cannot access the institution’s system for record-keeping. Blockchain has the potential to revolutionize education. Leading lights must begin experimenting and understanding the technology, individually and in a consortium. Only some institutions are prepared to invest heavily in the blockchain. However, starting the conversation internally and with academic colleagues will allow them to be ready when opportunities arise, which could impact business and learning.