Currently, it is a known factor that Bitcoin has become a well-known virtual currency in the world. One time, its value was more than $19,000 per coin. But it does have a huge legacy and moreover, it does not have to do with its value. Its value, as well as advantage, lie in the type of network and the blockchain development technology it uses.
Blockchain Fame – Gaining Popularity Among All Sectors
Over the past few years, blockchain technologies have gained a huge amount of fame. All this is due to its superior cybersecurity capabilities. This has instigated various industries to think about security seriously. Among the most common industries are finance and healthcare. Now the potential usage of blockchain development will somewhat extend more than its current applications. Most importantly, this can make a huge difference in the classroom one day.
Like finance and healthcare, the education sector is significant too. Moreover, there are various areas present in this sector which can be improved using this tech. Frankly, the market for education and technology are growing at a faster rate. It is estimated that it will reach about $93 billion globally by 2021. There are tools like personalized learning and virtual reality that are assisting students in learning at all levels.
Here even smart classrooms aren’t far off too. There are chances that blockchain technology in education might become an integral part of multiple schools globally and that too within a few years. However, the only concern is how this system can benefit the students as well as administrators. For having a basic understanding on the potential impact blockchain development has on the educational system and how it can affect the lives of students and teachers, you must have a knowledge about how other sectors will help in improving their process. In the same way, schools can follow their footsteps.
Can Blockchain Assist Educational Sector Or Is It A Fad?
There are various studies done around the world regarding the affect blockchain technologies has over the educational sector. Among the various ones conducted, there were some that confirmed the relationship between education and blockchain. While this is in an embryonic phase and provides a series of recommendations. Now this will encourage the development of this particular technology.
As per the researchers, there are certain advantages of having blockchain technology in education. It refers to the immutability of the records present in the blockchain. So, it means that once they remain there, then it will have the potential applications which can guarantee to provide digital course and even online certificates.
The various entries stored in the blockchain development can be verified using a single click of the mouse. So, this will easily lower the workload of students. They won’t have to endure the inconvenience of preparing the paper copies of the certificates. Even they won’t need to go through the procedures of requesting for a course in the educational institutions. Plus, it makes it easy for them to verify the credentials of an individual as well as organization.
How Blockchain Technologies Make Education Student-Friendly & Futuristic?
Let’s check –
⚫ Diplomas & Certificate
Here the academic record of the students containing diplomas, notes, and titles obtained can be protected. Basically, this detail will be stored (you can say available) in the chain of a block and is always out of danger, even if the institute loses the files.
Furthermore, it encourages the reinforcement of security so that the diplomas don’t get modified. There is another option which is the delivery of the certificate using blockchain technology.
⚫ Library & Information Services
One of the biggest advantages of blockchain development is an easy method of tracking and storing information. These can easily be used for enhancing the library and the information services present in schools. Even though there have been few libraries who have started experimenting on the blockchain technology in education, there are even certain schools who have got a good amount of grant to start the discovery process.
⚫ Security In The Archives
It is common in virtual education that there could be plagiarism or theft. This is done by those who want to present their information as the new one. Blockchain technologies can be useful where the files and documents prepared by students or institutions will be safe. In this case, there won’t be any theft or forgery of the digital signature.
One of the important aspects of education is getting students to school. In the future, there could be ridesharing apps that are based on blockchain technology. And these could be used for organizing carpools for students especially ones with special needs.
Frankly, this will be quite significant as the roadways will be congested and carpooling will become a huge necessity. With the development of blockchain, the burden is relieved from the parents and this will make sure that all kids get the safe method of transportation.
⚫ Accreditation Of Credentials
Certain schools give a huge amount of importance to interpersonal skills. Frankly, this is easily available through peer to peer process, which is known as P2P. Now, this is simply based on the fact that students with whom the project is done will give out the required credentials to their friends.
Now this will certify that some skills are developed during the group learning. Here you get is something called an open badge. This can easily support the knowledge and skills that are required while during the course or through virtual learning.
Going To Future
Since the usage of blockchain technology in education is new, it is still unexplored. Also, there are a lot of unanswered questions. But the possibilities are quite endless. School owners and administrators are looking into the future, they would be really thinking about harnessing the power of blockchain technologies.
What is blockchain?
A blockchain is nothing but a growing list of records. These are called as blocks and are linked using cryptography. Here each block will contain a cryptographic hash of the previous block on a timestamp and transaction data (this is often represented as a Merkle Tree).
What are the benefits of blockchain in education?
Blockchain tech got the potential for transforming the educational sector. New apps are developed each day for capitalizing this great opportunity. The benefits of blockchain technology in education are wide-reaching ranging right from managing monetary payments to blockchain run educational platforms.
How does blockchain work?
Blockchain works with blocks just like how spreadsheets work with columns and rows. Now a block in the blockchain is nothing but a collection of data. It is a distributed ledger meaning that a ledger will be spread across various networks among all the PEERs present in the network and each of the PEER will have a copy of the whole ledger.
What is Cryptocurrency?
Cryptocurrency is a kind of digital currency which uses cryptography for security as well as anti-counterfeiting measures. Private and public keys are commonly used for transferring the cryptocurrency among individuals.
What is a Blockchain wallet?
A blockchain wallet is a digital wallet that allows users to manage bitcoin and ether.