Can Blockchain for education realm become a revolutionary idea? Let’s try to get an insight of it. The Internet has bestowed us all the best way to connect with billions of people around the world. People are able to communicate easily and collaborate online. However, the internet is not intended for securing data and information. However, blockchain offers an independent, secure, safe and transparent platform on which higher education institutions can create a worldwide network for higher learning.
Blockchain can change the way higher educational institutes work. The technology has come to the forefront having its potential in businesses, governments, e-voting, financial transactions and it can also aid in higher education.
There are some categories in which blockchain decentralized have possibilities in higher education.
Keeping records of students and their identity
The methods we use to identify students, save privacy of each of them, record, and credentials their accomplishments, and keep all these records secure.
Customized teaching solutions for each student and the ways to create new models of learning.
Higher education is becoming more diversified, decentralized and democratized. It is also going to eliminate the need for middlemen or intermediaries. Higher academic institutions need to be alert to maintain their status and the people’s trust in the degrees, certifications, and education. And that’s when blockchain comes into play.
What is blockchain?
The blockchain is a decentralized open public ledger system which stores information in a secure database. It consists of a series of blocks that are interlinked with each other using cryptography. Here, one needs to become dependent on powerful intermediaries to exchange things of value on the internet of information.
Why should we give attention to blockchain decentralized?
Governments, banks, digital platforms (e.g., Amazon, eBay), and colleges and universities engage in creating our identity, keeping our trust in them and supporting us to obtain, exchange, transfer assets and settle the transactions. Currently, they make use of centralized systems which are prone to hacking. These intermediaries are sometimes unreliable and often slow.
With blockchain technology, it can create a secure and online ledger of academic qualifications and degrees.
A graduate’s degree on blockchain will help students for searching jobs. More importantly, it will also provide a secure and fully examined information source for HR to consider in future. The structure of degree certification is not secure. Our degrees are the most crucial documents that we hold throughout our lives. But, keeping this essential documents by the conventional way is vulnerable to fraud, misplacement or loss.
The blockchain is an integrated system which is beneficial for students when they are moving between international jurisdictions and they don’t hold physical copies of their degrees. Amazingly, Blockchain-based online credentials can follow them, despite their address or record-keeping.
Blockchain technology also offers a simple and easy payment method for admission, tuition and graduation fees to students in higher education. The traditional financial transactions utilize third parties who charge their own fees. This payment system will end the need for making added payments. This technology serves you simplified payment system for students. They don’t have to wait and face problems related to administrative delays in case of transfer of fees through international banks. There is so much data related to students which are private and sensitive. The blockchain is the answer for storing all their records with security.
The blockchain technology provides privacy with the data stored which holds great importance.
To sum up, Blockchain for education not only provides trust between students and universities but also between graduates and the corporate world.