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The term blockchain has been gaining popularity in recent years; it is most often associated with cryptocurrencies and finds its applications in the financial sector. However, blockchain technology is promising to become more ubiquitous in the upcoming years and can potentially be used in industries such as healthcare, banking, real estate, etc. The topic of this post will be the possible applications of blockchain in the education field, and how it can enhance the experience of education and make it more accessible for different people.
Still, the implementation of blockchain in education facilities is only at its initial stages and comprises a few functions, but the prospects of its more sophisticated use are rather considerable. Since the COVID-19 wave, digitalization has penetrated almost every aspect of education: most of the information presented to students and tutors is stored on the Internet, and most of the communication happens via the Internet. Blockchain has the power to disrupt this industry, especially the collaboration and management of academic records between students and teachers. The underlying technology behind blockchain and its decentralized ledger technology can have a substantial impact on the education processes, specifically the transparency and accountability aspects.
To understand what exactly blockchain can improve in education, there are going to be several examples presented.
- Universal access to materials
Blockchain technology may be used to provide free, worldwide access to freely available educational materials like books, podcasts, and movies that are in the public domain and can be used and shared in any way. Blockchain makes it possible to securely and affordably distribute these resources in a public network. Blockchain makes it possible to share these resources affordably and securely in a public network. Additionally, educators can assess students’ work directly on the blockchain, allowing students from faraway locations to take courses and exams online.
2. Lower costs
Arranging student fees is a time-consuming process that involves many parties, including students, parents, scholarship foundations, lending companies, federal and state agencies, and university financial departments with their frequently enormous bureaucracy. This procedure can be made more efficient by blockchain, which will lower administrative costs and perhaps even lower the cost of tuition. Also, students can be rewarded for their academic achievements through the usage of tokens. Thus, students will be more incentivized to attain better results during their studies.
3. Smart contracts
Smart contracts are a very popular blockchain feature that has found a variety of applications in the financial world. In education, these contracts can be used to ensure the limitations of the assignment, its due date, and grading requirements. Students and tutors simply would have to sign such a contract.
4. University research
Authors have a stake in keeping track of how their work is applied and preventing outright theft from occurring. Blockchain would make it possible for researchers to publish without limitations, but in a way that would allow them to track the reuse of their work, including how frequently a work is cited and used as teaching materials, thus further monitoring its impact in the field — important because that could transform into acclaim and future funding.
To finalize, I believe that blockchain technology will be one of the most important discoveries of the 21st century along with AI, VR, and others. But we need to understand how to integrate it in the best way possible into the aspects of our life and industries. Further research, development, and education about this technology are needed before it is fully implemented in the education sector.
Sources:
https://www.analyticssteps.com/blogs/blockchain-education-sector-advantages-and-disadvantages
https://elearningindustry.com/ways-blockchain-impacts-education-industry-in-2022-and-beyond
https://online.maryville.edu/blog/blockchain-in-education/