Blockchain, the technology that underpins all other cryptocurrencies and enables their decentralization, first emerged with the invention of Bitcoin. We consider cryptocurrencies a component of the Blockchain, which we see as the new internet.
In other words, the Blockchain technology company would succeed if cryptocurrencies did not. The Blockchain enables us to conduct transactions for the first time in human history without having to have faith in the other party.
Without the help of intermediaries like banks or businesses like Visa or Paypal, which function as “arbitrators” today and give people the confidence to exchange money, we can transact with strangers.
As a result of the Blockchain’s ability to transmit value, we are transitioning from the internet of information to the internet of value. The development of “bitcoin” on the Blockchain may also have benefits for education. A study conducted by the Joint Research Center (JRC), the European Commission’s internal scientific service, serves as evidence of this.
The study looked at the potential contribution of this “incorruptible” system in fields like training and digital certificates with either the use of academic appointments or the protection of intellectual property.
Blockchain in the Education Sector
The report confirms that the relationship between “blockchain” technology and education is in its infancy while making a number of recommendations to promote the advancement of this technology. It is based on the analysis of several studies carried out in various European universities.
In this way, the researchers show how the fact that records can’t be changed once they’ve been added to the “blockchain” has some benefits. This could be useful for ensuring digital courses and certificates, even if an institution closes or an entire education system falls apart, as happened in Syria.
With just one “mouse click,” it is possible to confirm the ATH coin entries in the Blockchain. Students could instantly verify a person’s or an organization’s credentials, greatly reducing their workload, and eliminating the hassle of having to make paper copies of certificates or go through the procedures to request a course in educational institutions.
On the other hand, the report says that “smart contracts” would let agreements end automatically when certain conditions are met. Therefore, a student would only be eligible for financial aid if they had submitted the course’s required assignments.
The creator of a work would automatically receive credit or even payment upon adding it to the “blockchain.” Before hiring a blockchain consultant, it makes sense to ask this question. This technology has only been around for a short time, but it is already causing a revolution in many social and economic fields.
Here are some future applications of the Blockchain in the field of online education:
Certificates and Diplomas:
The student’s academic record, which includes notes, diplomas, and titles earned, is protected. If the institution loses these files, the information is safe because it is available in a chain of blocks. Additionally, it enables tighter security to prevent degree modifications. The delivery of certifications via Blockchain is an additional choice.
Security in the Archives:
When someone attempts to present a new investigation or project in online education, they may present evidence of theft or plagiarism. Additionally, the technology will protect the files or documents created by students and institutions, preventing theft in both cases and the forging of digital signatures.
Managing financial transactions with online institutions or learning centers is very practical with the Blockchain. Additionally, make sure that online institutions are legitimate to prevent “falling into the trap” of these fraudulent networks.
It emphasizes interpersonal abilities, which can be acquired through P2P or “peer to peer” processes. It is based on the possibility for the students working on the projects with them to certify for their peers a skill acquired through group learning. Your reward is a “open badge,” which can attest to the knowledge and skills you have acquired through the course or online learning.
The report also mentions the benefits for employers, including the ability to offer a service to verify the accuracy of the information provided by candidates for a position (training, skills, and experience) and reduce the time that recruiters spend checking these data, as well as the possibility of automating agreements, payments, or taxes, among other functions.
The career potential in this field is expanding exponentially, even though we only briefly touched on the industry-wide potential of blockchain applications in this article. Any professional should always try to get an edge on the competition.
With the help of this blockchain program, you will be able to create blockchain networks and applications using tools like Truffle, Hyperledger, and Ethereum. You can hire Ethereum game developers to create your next ethereum blockchain network or application.