Blockchain In Education
Education is one of the main key aspects of the growth of fields like medicine, agriculture, science, and almost all kinds of industries. It's a complex task to run and manage an educational institute. There are lots of issues faced for educations from pre-kindergarten to Ph.D. students.
We all know about the Blockchain Technology which helps in renovating many kinds of industries. We have already discussed the impacts of blockchain in Healthcare Industry, Insurance Sector, Banking, and Supply Chain Management.
Here let us look at, How this blockchain technology transforms the education sector? Without making a delay, let us jump into the discussion about Blockchain in Education.
Challenges in the Education Sector :
1. As the world is getting transformed, education becomes an unavoidable one among the people. Thus there are billions and billions of students undertaking education in the various institutions in a year. It is the greatest task of maintaining records of those students details in paper documents.
2. When those records are on paper formats, it becomes a complex task to get back the details of a student who studied 4-5 years back. It takes a lot more time to recollect the old data and records.
3. Maintaining the certificates of students in a secured manner becomes difficult and requires manpower.
4. The trouble-filled part of the education sector is accounting, which requires time and people to calculate and maintain the finance of an institute. This involves calculation of employee/ staff salary, students fees, maintenance and operational costs of that institute.
5. Monitoring the scholarships for the students is also became difficult as there is a number of students and also scholarships provided.
These challenges move the educational sector into a difficult zone of performance. This paved the way for the use of technologies in education and the most important technologies that help educators to face all those challenges is " Blockchain Technology ".
Blockchain in Education
The use of blockchain in the education sector can bring a big revolution within 2020. As the world is getting smarter and digitalized, it is a time to make the education system also smarter and digital. This, in turn, increased the institutes and universities that provides online courses, digital certificates, etc.
The use of blockchain in education also created a way for the acceptance of cryptocurrencies as payments/fees for courses in many institutes. This may result in an easier and transparent way for both students as well as the institutes.
There are lots and lots of use cases of blockchain in education and it all together helps in bringing a healthy educational system.
Benefits of Using Blockchain in Education
1. Replaces the Paper Documents :
The use of blockchain for storing the records of students, staffs, an employee of the institute can reduce the use of paper document maintenance. It also helps in avoiding the risk of falsifying or chance of losing records.
2. A saving Method :
As blockchain provides digital storage, the cost for the paper, document printing is eliminated. Also, the time and people effort for maintaining those documents are also saved. Thus the use of blockchain in education prevails to be a saving mechanism.
3. Data Transparency :
As we already know that blockchain is a decentralized and distributed ledger technology which spreads out ownership to concern individuals. Thus, blockchain in the education system can provide transparent records storage of students.
4. Financing and Accounting Made Easy :
The use of blockchain in the education system can make the calculation of scholarships for students and salaries for teachers easier and transparent. The acceptance of bitcoins for payments process in education systems makes it more efficient.
5. Digital certificates a better way :
Most of the institutes adopt blockchain and provide online courses and digital certificates and this makes easier to connect students and institute from different corners of the globe.
There are more benefits of using blockchain in education and it proves to be a cost-effective method.
Educational Institute that uses Blockchain :
1. The University of Nicosia, the largest private higher education institution in Cyprus has implemented a fully-functioning blockchain library for the storage of information about student's grades, qualifications, and certificates, etc.
2. The Massachusetts Institute of Technology (MIT), the world leader in training specialists in a variety of technical areas, implemented blockchain over one hundred digital diplomas for its graduates.
Major Use - Case of Blockchain in Education
1. Used for the verification of records, credentials, and certificates of students.
2. Be as the best support for the expanding massive open online courses ( MOOCs).
3. Used as the best approach for the increasing open universities count.
Future Scope :
Blockchain in the education sector is now providing a better way to escape out of challenges. In the future, the use of blockchain in education can bring a big revolutionary change that transforms the education sectors to a higher level.
Let Us Hope for Best changeovers by blockchain in the education sector by 2020 !!!