Before we understand how blockchain can transform Education Industry, let us first understand how this technology works. Understanding the basics of blockchain technology can be challenging. But I have tried simplifying it as per the research I did from various sources.
Blockchain defined: Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding). Virtually anything of value can be tracked and traded on a blockchain network, reducing risk and cutting costs for all involved. [IBM].
Why blockchain is important: Business runs on information. The faster it’s received and the more accurate it is, the better. Blockchain is ideal for delivering that information because it provides immediate, shared and completely transparent information stored on an immutable ledger that can be accessed only by permissioned network members. A blockchain network can track orders, payments, accounts, production and much more. And because members share a single view of the truth, you can see all details of a transaction end-to-end, giving you greater confidence, as well as new efficiencies and opportunities. [IBM]
Blockchain is a public ledger that automatically records and verifies transactions. The distributed ledger technology (DLT) powers Bitcoin, Ethereum and other virtual currencies.
With Some of the resources I found from Educause and CB Insights, I have identified 11 ways that DLT could be deployed by Government’s Educational Department, School districts, Group of Institutions, Universities and Other training Schools in India to improve learning opportunities.
1. Transcripts
Academic credentials must be universally recognized and verifiable. In K-12 and postsecondary, verifying academic credentials remains largely a manual process (heavy on paper documentation and case-by-case checking). DLT solutions could streamline verification procedures and reduce fraudulent claims of unearned educational credits.
2. Skill Badges
Specific skill assertions can be verified and communicated with a digital badge. Multiple badges can be assembled into an open badge passport that students can share with prospective employers.
3. Student records
Blockchain to secure and share student records. Although storing an comprehensive learner record on a distributed ledger may prove computationally intensive and, as a result, prohibitively expensive. But with advent of 5G and cheaper cloud storage, DLT may just be used as a directory rather than a data warehouse.
4. Identity
With the proliferation of learning apps and services, identity management is a big problem in education. Platforms build on Blockchain can drive API services to have Single Sign On (SSO) for multiple app which will help users carry their identity with around the internet. On such platforms, users will access apps on decentralized networks and have data portability.
5. School Infrastructure Security
As schools add more security cameras and sensors, they need to protect their networks from hackers. We can build platforms using blockchain’s tamper-proof ledgers to sharing security data across device networks.
6. Cloud storage
As learners and education institutions store more data, DLT cloud storage could offer safer and potentially cheaper alternatives. Company like Filecoin is a high-profile crypto project that rewards the hosting of files.
7. Replace Existing Student ID Card
There is less revolution in Campuses happening around Student ID Cards. Using blockchain platform Campuses can transform the ID Card of Students to become more smarter like Access Card, Prepaid Card, location tracking and also campuses can tie up with retailers to provide student discounted products required for learnings.
8. Learning marketplace
The core competency of DLT is eliminating the middleman. It will be deployed to create various learning marketplaces from test prep to surfing school. Blockchain can helps students find and pay for courses, registered by educational organizations or teachers, without getting cheated by fraudulent.
9. Record Keeping
DLT could reduce paper-based processes, minimize fraud, and increase accountability between authorities and those they serve. Any Start up in this space can aim to create an appropriate legal infrastructure for distributed ledger shares, to increase efficiency and speed of regulatory reporting and eradicate corruptions and middlemen.
10. Governance
The benefits of using blockchain for smart contracts and verifiable transactions can also be applied toward making Institutions / Campuses more transparent. The blockchain app provides an administrative system for organizations to ensure smart contracts are executed according to rules encoded on the blockchain.
11. Publishing
Blockchain could have multiple applications in the publishing industry, from breaking into the industry to rights management to piracy. New platforms are emerging to level the playing field for writers and encourage collaboration among authors, editors, translators, and publishers. Educators, students, and NGOs may appreciate the benefits of expanded publishing options.
Credits: IBM, Forbes, Euromoney, Google, Educause and CB Insights
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