Blockchain is used interchangeably with cryptocurrencies, but both are different terms.
The blockchain is the technology where the data can be stored on the nodes and is further trackable and unaltered. And cryptocurrencies are the coins that are majorly known as Bitcoin or Ethereum.
Blockchain and cryptocurrencies have been impacting many sectors, and one of them is education. The education sector adopted digitization during the pandemic. And blockchain technology in education holds the potential to revolutionize it by securing the data. Moreover, students and teachers can collaborate and manage academic records through Distributed Ledger Technology (DLT) with transparency and accountability.
The article is about the Top uses of blockchain in education and the benefits of blockchain in education –
What is Blockchain Technology?
A blockchain is also referred to as a Distributed Ledger Technology (DLT). Through cryptographic hashing and a decentralized network, it helps to create a history of a digital asset that is once saved on the nodes; the data is transparent and unalterable.
The Role of Blockchain in Education –
The role of blockchain in education can be used for record keeping. Verifying virtual students’ academic credentials is time-consuming.
With the help of Blockchain Technology in education, the time-consuming process can be made more accessible by streamlining verification procedures, saving time for educators and administrators. Suppose an institution started taking the role of blockchain in education seriously. In that case, the transfer student’s record could be verified, and the data for the completed courses could be obtained in a few clicks.
The same concept is relevant for employers and digital transcripts, which can provide data related to attendance, courses the students have taken, specific exams, and how students have performed; everything can be viewed in a few clicks.
Benefits of Blockchain in Education System –
There are two popular cryptocurrencies in the blockchain: Bitcoin and Ethereum.
Cryptocurrency is a digital asset that can be transferred between two-person wallets if the wallet address is shared with another person.
The benefits of blockchain in education expand to the completion of courses that can provide tokens, and further, those tokens can be exchanged with the coins like Bitcoin or Ethereum.
With the help of blockchain and education, educators can set up entire exams through smart contracts for grading. Further, their grades are recorded on the Distributed Ledger Technology (DLT) when the students take the tests. The data of their grades are encrypted on the nodes of the blockchain in education.
The detailed benefits of blockchain in the education system are below –
1. Self-Acquired Data –
With the help of blockchain and education, there is a potential to transform blockchain in the education system, and thus, it can verify the users and data and track their ownership. The blockchain helps to secure the data by making it unaltered and traceable.
The blockchain organizations which promote education include the Blockchain Chamber of Commerce, Learning Economy Foundation, Colorado’s C-Lab, and Texas Blockchain Council.
Those organizations are working on creating an open data exchange protocol so that students and institutions can share academic records and data securely.
2. Enhanced Security –
With the help of blockchain and education, the authors of the open educational resources will be given credit for their work and can secure their collaborations. The authors cannot edit their data on the blockchain because the data on the blockchain is unaltered.
3. Better System to store Lessons and Courses –
Institutions use hard drives to save digital academic records and curricula but hold security concerns.
Blockchain technology in the education system is secure for storing digital academic records and curricula in the storage. Educators can implement smart contracts and distributed ledgers in the classroom.
The lessons and courses can be programmed into the blockchain system, and with the help of smart contracts, the lessons and courses could be tied up with the student and teachers. Once the lessons and courses are completed, both could get crypto tokens.
Top Use Case of Blockchain in Education –
1. Blockcerts –
MIT Media Lab collaborated with Learning Machine to create Blockcerts. The Blockcerts was founded in 2016 and is based in Cambridge, Massachusetts; a platform focused on developing, issuing, and verifying certificates with the help of blockchain technology. The company can review the credibility of any document using blockchain technology by creating records like academic credentials and transcripts. The Blockcerts can store academic achievements like grades, diplomas, and transcripts.
2. APPII –
APPII has a fully remote workforce and was founded in 2016. The company verifies the academic credentials of students and professors through machine learning, blockchain technology, and smart contracts. A user has to create their profile and fill in the details. The APPII blockchain verifies the user’s details, and then the data is locked on the blockchain’s nodes.
3. Parchment –
Parchment was founded in 2003 and is based in Scottsdale, Arizona. The company offers services to students, employers, and academic institutions. Parchment provides 2 kinds of services –
1. K-12 educators can upload any development progress on the Parchment blockchain.
2. Higher education institutions use the Parchment blockchain to process applications, review merits, and produce diplomas.
4. Sony Global Education –
Sony Global Education has partnered with IBM, which was founded in 2015 and had an entirely remote workforce. The blockchain of the platform allows multiple institutions to add students’ information and academic achievements on a ledger to maintain a record of the students who have transferred or advanced their education. The blockchain saves all the data provided by each student.
5. ODEM –
ODEM was founded in 2017 and had an entirely remote workforce. The platform is a decentralized marketplace that connects students, educators, and professionals for educational products and services on blockchain technology. Students and professors can agree on specific courses through smart contracts.
Blockchain in Education system is promising because of solving problems around data records, security, and verifying data in a simplified manner. And the possibilities listed above are only the start as blockchain technology is getting advanced day by day, and it will positively impact the education sector in the future.
And, with the introduction of cryptocurrencies, students and teachers will get a boost in whatever they do as there will be rewards set up in the blockchain technology for teachers and students.
Blockchain technology in education holds the untapped potential to change and upgrade the relationship between academic institutes and students.