Most commonly, blockchain is associated with cryptocurrencies like Bitcoin. The data entered into a blockchain are stored in blocks linked chronologically. This makes it easy to trace the origins of the data and verify its authenticity.
Several industries have adopted the technology due to these features and its decentralized nature. Most notably, the financial sector. International Data Corporation (IDC) states global spending on blockchain across all industries will grow from over $4 billion in 2020 to more than 14 billion by 2023.
Education is one industry that is only just starting to see the impact of blockchain. Only a few institutions have adopted blockchain technology in education. According to a Gartner survey conducted in 2019, only 2% of higher education institutions use blockchain.
What is Blockchain Technology?
Bitcoin is a popular cryptocurrency that can be used as a blockchain application. A blockchain is an electronic object that cannot be traded to third parties without the owner’s permission.
This technology can be used for eLearning development solutions and other purposes. Students can develop a talent like math genius or poetry even before high school. Blockchain-based educational tools can recognize and reward these skills.
Blockchain technology is also used in education to create smart contracts for grading. Blockchain technology allows educators to program entire tests directly into a system.
Students can also take tests and record their grades on the distributed ledger. The blockchain stores the results of the grading process, even though the computer can do the whole thing.
Blockchain technology can improve the quality of online education. This technology can improve the quality of education online. Blockchain technology can prevent fraud by recording accreditations.
Why Blockchain in the Education Industry?
Blockchain is often the first thing people think of when they are concerned about security. Data breaches can affect education. Cybercriminals are making student data, such as financial information, into a highly lucrative commodity.
Cybercriminals also target student verification at educational facilities where they can create fake records and identities. When student data is digitalized, it’s important to protect student privacy as much as possible.
This verification only applies to students in college or high school. Many other uses are possible. Employers can defend against people who pretend to have a diploma but don’t. Smart contracts development can be used in education to combat fake qualifications and degrees.
Blockchain Application Development for eLearning
Blockchain technology can significantly impact the eLearning industry in many ways. You can read about them here.
The decentralized nature of blockchains and their transparency can enhance the security of the eLearning platform. It can provide secure storage and verification of learner credentials and certificates.
Authentication and Trust
Blockchain-based digital identity solutions can validate a learner’s skills and achievements. This ensures that certificates and credentials are easily verified across institutions and employers and can be tampered with.
P2P Learning and Content Sharing
Blockchains can facilitate peer-to-peer learning through platforms that allow learners to directly share content, knowledge, and resources without needing middlemen. This decentralized approach promotes collaboration, increases access to high-quality educational materials, and reduces costs.
Micropayments and Copyright Protection
Blockchain allows learning platforms to explore micropayments, in which learners pay for modules, lessons, or assessments. Smart contracts and timestamping can protect creators’ copyrights and help create high-quality educational material.
Blockchain technology’s distributed ledger can securely store and track education records, including certificates of completion, degrees, and qualifications. This creates a transparent system of recordkeeping that is not susceptible to manipulation and allows employers to verify credentials quickly.
Personalization and Data Analytics
Learning platforms can analyze securely and collect learner data through secure blockchain to gain insight into student behaviors, preferences, and learning patterns. These data can be used to personalize learning experiences, recommend relevant content, or improve overall learning outcomes.
How Blockchain is Poised to Disrupt the Education Sector?
Blended learning is the latest evolution in education. COVID-19 accelerated digital learning. Schools worldwide began using online platforms and Learning Management Systems to teach students. The blockchain technology is poised to revolutionize education app development services. Blockchain technology can change how academic data are managed, and how students and teachers interact. We’ll look at how blockchain technology could affect education in the future.
Smart Contracts for Courses & Assignments
Blockchains and smart contracts could make the job of educators easier. Smart contracts are made up of lines of code armed in a blockchain and executed automatically when certain conditions have been met. Smart contracts can be used for managing course content, including distribution. They can automate course material delivery, including readings, videos, and quizzes. It can reduce administrative work and improve the organization of courses.
Along with the growth of online learning, fake certificates (degrees) are becoming more popular. Many businesses and educational institutions are concerned about this issue. A blockchain is a great way to solve the problem of certification management. The universities can store their certificates as immutable records on the blocks.
Students can easily share these credentials using the exact URLs within their email signatures and social media profiles. Many blockchain development companies offer certificate and identity management solutions. As blockchain is decentralized and transparent, all documents are stored there. They are unchangeable and can be verified.
Bitcoin For Rewards
The process of transferring documents and verifying them when a student switches schools can be a time-consuming one for both the student and the school administration. Blockchain technology can streamline the verification process at schools and universities. We are often awarded scholarships, awards, and trophies for our academic and extracurricular achievements.
But blockchain technology allows us to give kids tangible prizes, such as bitcoins, in exchange for outstanding performances. Teachers can reward students for completing modules and other assignments in online learning environments using gamification. Gamification features in Learning Management Systems help tokenize all rewards into digital currency.
Digital Badges and Credentials
Blockchain is used to create secure digital certificates and badges that can be displayed and verified on digital portfolios. Smart contracts are a great way to encourage peer-to-peer collaboration and learning. Students can be rewarded for participating in online discussions or providing feedback to their peers. It can create an interactive and engaging learning environment and encourage students to develop critical thinking and communication.
Certification of Authenticity is Easy
Blockchain technology’s distributed ledger can improve transparency and accountability within the education field. It creates an unalterable record of education data, including transcripts and degrees, that can be verified and is tamper-proof. It is possible to validate academic achievements with 100% accuracy. Employers can also be confident about the knowledge and skills of job candidates.
Transferring documents is a lengthy process when students move from one school to another. Blockchain technology can streamline the verification process in schools and colleges. Allowing access to the blockchain enables student records to easily be transferred from one institution to another when a student changes institutes. Some blockchain companies create and issue certificates that are unforgeable and immutable.
It can also be used to share grades between institutes for students who are part of exchange programs. Administrative costs can be reduced by providing the necessary access to the data.
What is the Future of Blockchain in Education?
Blockchain technology has gained a lot in popularity in recent years due to its ability to secure data transparent and decentralized, which is also tamper-proof. The education sector is also recognizing the benefits of blockchain technology. It can be used in many different ways to transform the education sector.
Blockchain technology is used in education to verify credentials. Verifying academic credentials can be a time-consuming and tedious process.
Students can store academic records in a platform enabled by blockchain that is accessible to potential employers and educational institutes. These records will be less likely to be forged and more efficient at verifying information.
Blockchain technology can be used in education to create micro-credentials. Micro-credentialing is a way to earn certifications for specific skills or knowledge without finishing a degree. Blockchain technology can make and verify micro-credentials.
They can be used as proof of proficiency in a particular area. It is beneficial for people who wish to upgrade and reskill. Credentials can be obtained that will allow them to show specific skills in the job market.
Blockchain technology can be used for transparent and secure transactions among educational institutions, students, and faculty. Students can pay for tuition using cryptocurrency. Transparency and security can be ensured by tracking transactions on the blockchain. Blockchain can be used for tracking financial aid and scholarships. This will ensure funds are distributed legally.
The Key Takeaway
Cryptocurrencies have already changed the economic landscape. Distributed ledgers and smart contracts will make a significant difference in this area. Blockchain platforms have many advantages for education. Blockchain is already a technology that can be used in education.
Blockchains, cryptocurrency, and metaverse are already transforming the financial industry. Incorporating these technologies into academic curricula will provide more opportunities for the youth and a framework that is efficient, affordable, and easily accessible to all students and will allow them more exposure. While making learning an enjoyable journey. Blockchain will help education app development services institutions streamline their processes and reduce costs while improving the quality of education.