Very few people can recall hearing the term blockchain a few years back. However, the increased implementation of this technology in the financial sector has made us familiar with it. Blockchain is often interchangeably used with cryptocurrency.
The implementation of blockchain technology to execute cryptocurrency prices and trades on a cryptocurrency exchange makes it a critical component of the new-age currency. Numerous players use blockchain technology for distributed ledgers. It allows the transactions to take place securely without the oversight of a regulator and in real-time.
Blockchain is one of the primary reasons for the popularity of cryptocurrencies. The seamless transactions and easy verification process available during digital currency transactions are due to the blockchain.
However, many people wonder whether an application of the technology beyond cryptocurrencies exists. The answer to that question is yes, it exists.
There are numerous ways that blockchain can help facilitate certain functions across industries. The same is true for the education sector.
This article highlights how blockchain can help provide greater security, reduce identity theft, and cut administrative costs in education.
Seamless Data Handling
Any institution that provides education, from pre-primary to post-graduate programs, has to process a large chunk of data. Maintaining such large volumes of data often becomes a tedious and expensive task.
Upgrading the prevailing systems through digitization can cut the time and money required for data handling. Blockchain technology can help maintain that data effortlessly and share any transcripts or update grades for the students as and when the need arises. The process is secured using distributed ledgers placed across the blockchain network.
In existing systems, any particular certificate or degree is presented in the form of a physical document on paper. However, universities and institutes can issue digitized copies of their student’s diplomas or degree documents without hassle using blockchain technology.
It is worth mentioning that the technology can also help cut short the time required for recruitment processes. Institutions can verify the documents and onboard new educators effortlessly using blockchain.
It is essential to note that the premier educational establishment, MIT, has been issuing digital diplomas since 2017 using blockchain technology.
A Better Repository
Educational institutions have to store a lot of data related to:
- Regulatory documents
- Course curriculum
- Employee records
- Financial record-keeping
- Other information about courses and students
Colleges and universities can use blockchain-based cloud services to take care of these tasks.
Educators can use smart contracts to put forth the tasks students need to complete for a course. They can ensure adherence to various steps using this tool of blockchain technology.
After completing every step, the smart contract will verify that task and only allocate the next one if all the parameters of the last ones are in place.
The COVID-19 pandemic has led the entire educational landscape to change. The way education is imparted today differs a lot from the pre-pandemic era. There is a greater reliance on digital tools to help students access education and evaluate their growth.
Educators can use blockchain technology for course delivery and student evaluation. They can create examination papers with scoring patterns and answer keys using smart contracts. Grades get automatically assigned by the system after a student completes the test.
During a student’s transfer from one institution to another, data sharing becomes effortless using blockchain technology. The receiving institution can access all necessary details with a few clicks. It helps get a glimpse of entire student data, whether academic or personal.
As you can see, there are numerous areas where blockchain can get implemented in the education sector. Its implementation can help tackle the challenges that schools, colleges, and universities face today.
There are various guidelines related to data protection regulations around the world. The ones pioneered by the European Union get implemented across various countries of Europe.
Other countries like India have also tabulated their personal data protection bill to reduce data misuse. The implementation of all these regulations will take place using blockchain technology.
A bottleneck comes into the limelight, especially when segregating personal and academic data. The storage on a distributed ledger solves this problem with ease.
It is essential to note that the above use case scenarios are only a few found to date. Several other applications can happen as researchers and educators delve deeper into the subject. Whatever comes out of such research, the future of education looks promising due to the application of blockchain technology.