In the ever-changing landscape of finance, a remarkable phenomenon has taken hold: the rapid growth of decentralized finance, or DeFi. This ...
The education industry has made great strides in the past few years, seeing a tremendous amount of transformations, and catering to evolving lives.
However, with so much research going on, there is still a long road ahead to wrestle with problems arising from legacy systems or bringing disruption in the education sector.
In line with this, education leaders are rigorously trying to adopt this game-changing technology into the education enterprise spectrum. Added to this, the Blockchain technology has made the headlines and got the spotlight of the town due to its unprecedented potential.
With all these facts considered, it is anticipated that the embracement of blockchain in education will be increased from 2% to 18% in the coming years.
To comprehend the impact of blockchain in the education sector, what are its boons, and its uses cases, let’s delve deeper into this and learn more about it-
Role of Blockchain in the Education Sector
Blockchain for the education industry has brought new waves of innovation.
It has instituted game-changing solutions to get a shot of ineffectual manual and paperback record-keeping processes, absence of accountability in the education system, inadequate teacher and student transparency, and credibility gap in educational spaces and academic degrees due to forgery and falsehood.
In the wake of this, the Blockchain technology has the potential to address the challenges in the traditional education industry by proffering a rich pool of solutions: the immutability of stored information, traceability, and transparency.
Without a doubt, the incorporation of blockchain in education is getting a mountainous disruption.
As a result, many public and private educational institutions are trying to implement blockchain-driven tools. Now that it has been considered how education systems require a change, it is time to dive into the benefits of blockchain applications in the education industry.
What Boons Blockchain Can Bring to the Education Industry
With its power to practically reduce data management costs by eradicating manual processes, including credential validation, blockchain can empower required changes in the business, operating, and technology models of higher education.
Not only this, but blockchain can also create unique digital assets that validate the legitimacy of academic certifications and qualifications. For deeper insights, Let's take a look at these below-mentioned boons-
Blockchain technology has transformed the way traditional education sectors have worked for ages. It holds the promise of long-hoped-for changes to immutable record-keeping practices, which have conventionally been unreliable.
It empowers an assorted set of educational documents, certificates, credentials, or diplomas which currently need validators, now it can be automatically kept and verified on blockchain technology. Once the predetermined parameters are befitted, smart contracts integrated by the blockchain technology can get a firm grip on all the work with self-triggered and quick approval of documentation.
Together with this, it allows learners and students to instantly access their records and reluctantly shares them with the prospective employer or person. This alleviates the strain on employers because they don't need to do strenuous background checks to authenticate the applicant's accomplishments and previous records.
Backing the education system
Blockchain technology can be utilized in unheard-of ways in academic institutions. It plays a critical role in managing teachers' wages, and student scholarships, contriving an equitable and transparent system for funding projects and grants.
Decentralization of the association
Blockchain can reform the education business model due to its immense potential. It can transform the entire infrastructure of schools and universities. In addition, it automates payments and agreements between teachers and students. Consequently, students can enjoy affordable fees and desired services.
Having said that, it has served educators to keep liberating themselves from disparate administrative responsibilities, student data from hacks, secure faculty with the incorporation of blockchain, and do away with the middlemen operations.
Generating transcripts in academic institutions is one amongst the most time-taking and arduous tasks worldwide. The implementation of blockchain comes with the huge potential of streamline the task and generate the transcripts in a quick manner.
Thus, there is no need to ensure correctness in a transcript to be manually addressed. Blockchain-based solutions can undoubtedly work wonders for schools and institutions by allowing anti-counterfeit storage of sensitive data.
Not only will it be advantageous for educational institutions, but it also drives the process streamlined for staffing and recruiters enterprises.
Use cases of Blockchain in the Education Sector
The use cases of blockchain for education can be seen across a range of processes. Use-cases that make the industry more valuable are presented below-
ODEM is a blockchain-powered online learning platform that lets flexible, personalized, and reasonably priced education.
In addition, educators and students can have an open discussion about what constitutes the best educational environment.
The platform brings into play blockchain-based payments and smart contracts to encourage and incentivize learners and pupils for their academic efforts and to inspire educators to create better curricula. Diplomas and other credentials are stored in the blockchain, an immutable digital ledger.
As a result, they can be quickly retrieved and distributed through social media or used as supporting evidence in electronic resumes.
BitDegree proffers computer science and programming courses online.
In line with this, the platform empowers scholars awarded in the form of tokens intended to motivate students to study and are given a unique avatar to use while exploring the platform and completing missions.
Potential employers who are also registered on the platform will recognize and reward users who have made significant progress in their learning and completion of courses. Along with this, the student's profile is updated with new certificates as they are earned and they are well kept in a distributed ledger.
With all these things followed up, a student's progress allows companies looking to hire new tech experts with fresh perspectives to find the best candidate and offer them a position on their team.
Powered by Ethereum smart contracts, Gilgamesh is a decentralized system for sharing and acquiring access to information.
The key difference platform has brought to the market is that they are rewarded with GIL Tokens for participating in the ecosystem by sharing, discussing, and creating content. Tokens can be exchanged for other academic eBooks.
Presently, Gilgamesh- an iOS-exclusive app, provides its users with book recommendations, social media feeds, and a wallet to store GIL tokens for use in interacting with other knowledge seekers.
Blockcerts was deployed as an open-standards platform for storing and verifying digital certificates like transcripts, credentials, certifications, and even test scores could be securely stored on the blockchain network.
It has created a standardized system for creating, issuing, viewing, and validating a student's academic credentials with a single window.
The system allows universities to validate the accuracy of student records, whilst prospective managers can get a complete picture of a candidate's qualifications by viewing their full profile, which includes information about their awards and accomplishments.
The Disciplina platform maintains a central database of university credentials and student performance by harnessing the blockchain technology.
Coupled with this, the decentralized algorithm of the organization calculates an individual's rating based on their credentials and past performance. The results can be used by schools to tailor a student's education to his or her unique strengths and weaknesses.
Given the access to a student's academic record, as well as information about their instructors' backgrounds, pedagogical philosophies, and available courses, are also accessible via the Student App.
So here are the numerous roles of blockchain technology in the education domain. Now, as we cited during the advent of the article, the adoption of blockchain in education has been in its early stages and is said to grow in the coming years. However, there is an evident evolution in the foray of blockchain development solutions in the sector. Let us look at some of the real-world use cases to ascertain it.
How Debut Infotech Can Help Stay at the Top of the Game in Embracing Blockchain Solutions in Education Enterprise
Blockchain is an exciting alternative to reform the education sector by averting the duplication of efforts and lack of traceability and trackability in data.
In short, boosted trust by kicking off the manual process and turning the whole scene of the education system.
In case you are looking forward to embracing blockchain in your business, Debut Infotech is a leading blockchain development company that helps you to understand the values of blockchain.Harness the blockchain development solutions by discussing your project idea with our elite team of blockchain app developers.