Over the years, blockchain has emerged as one of the revolutionary technologies that has increasingly attracted the attention of varied industries worldwide. Bitcoin which is the first blockchain implemented technology released publicly has garnered massive recognition.
The exceptional features offered by blockchain such as decentralized databases, smart contracts, and end-to-end encryption can provide an excellent framework for varied educational systems. The use of blockchain secure QR code or the implementation of blockchain powered students’ record systems have already proven to be making a mark in the field.
Keep reading more to find out how this progressive tech has the potential to change the future of education and help this industry in the process.
Everything to know about Blockchain
Keeping a ledger system to record the transactions happening such as educational certificates, students personal details, etc. is the most common and effective method of monitoring your assets. But instead of keeping everything over, hard copy ledger can be unreliable and most of all prone to security breach.
Blockchain can be considered as a huge digital ledger system operating over the cloud. The technology enables the development of a ledger system that helps in storing information in a ‘Chain of Blocks’.
This information can be anything – documents, transactions, amount, content, time and more. Even though electronic databases have been existing for quite some time now, the emergence of blockchain applications has made a strong impact over the way we store and manage our data online as this tech offers secure access to all the concerned participants. Therefore, securing educational documents with blockchain technology application is slowly making a transformation to the educational sector.
In fact, the introduction of a single universal ledger concept poses the core of blockchain. The blockchain powered platform is secured by the available cryptography algorithms where every participant is offered with a secure key. The chances of the system being hacked reduces considerably.
Additionally, since blockchain is a chain of blocks linked with one another, if there’s any alteration or manipulation in one block then the entire all the blocks linked must be altered. This can take forever and is a vastly comprehensive procedure, therefore, making the entire system super secure.
Blockchain Application in the Education Sector
In the past decade, blockchain has been adapted in the education sector as an experimental tech to test out its features to influence the varied academic systems, for instance, blockchain powered educational certificates and more. Below are some popular ways in which blockchain can aid the education sector.
Improving the students’ record system
Blockchain offers a digital ledger system that has been used for storing and maintaining students’ academic records. Some of the prestigious educational institutions around the world have implemented a blockchain powered credential system that allows them to digitize the diploma program. The blockchain enabled document encryption secures the certificates without the concern for hacking. Also, the sharing of these records is easy as the students can share via secure link.
The record system further improves with blockchain verification as now the educational institutes as well as the employers can check the authenticity of the records without any hassle.
Simplifying and securing educational payments
There are huge transactions of money happening even in the educational sector. From issuance of students’ scholarships to clearance and monitoring of academic fees, all the parties engage in labor-intensive work.
However, with the application of blockchain tech, the institutes can eliminate the hassle of educational payments. In fact, in 2014 Kings’ College of New York City was one of the first educational institutes to introduce blockchain powered cryptocurrency for students’ fee payment and eliminating the credit card fee system.
In fact, with a simple scan facility, the educational sector can further simplify its educational payment systems. The blockchain secure QR code can fortify the way students pay their fees and how educational institutes receive the payments.
Hence, it can be rightly said that Blockchain is a new and progressive tech that can help the educational sector in more ways than one can imagine.