Education is the core of an efficiently functioning society. It’s a catalyst for the enhancement and further achievements. Therefore, every nation has to thrive on educating its people and improving their living conditions. As times are rapidly changing the concept of education is also transforming; it does not only allow improvement but also experiences new and more severe risks. The lack of transparency and digital adaptation cause most of the threats.
However, technological advancements don’t only imperil but also suggest solutions. One of the most acknowledged ones is blockchain technology. This revolutionary solution offers a wide range of features which can help to deal with most common problems that the education sector is facing. It has the advantage of immutability, security, and accessibility. With that being said, we will introduce five ways of how blockchain can make the education industry more accessible.
Is Blockchain the Key to More Accessible Education?
As blockchain technology is still in the headline of debates, many of its benefits are undeniable. When talking about the education sector, some areas require improvement to follow up with the latest demands. Could blockchain be the answer to these issues? In this article, we discuss how blockchain could benefit the academic system.
Blockchain stores records
Blockchain is different from a standard database; the technology can store not only current information but also keep permanent records of past actions. You would be surprised, how many universities and higher education institutions are still storing their files in a physical form. Paper or an overloaded database consume too much time and money. While on the other hand, blockchain can save immense amounts of information and be easily accessed. It can improve the volumes of data registered on a system and maintain lower costs.
Blockchain-based systems for authorized diplomas
Not only time and money resources are an essential issue for the education industry; fake diplomas and diploma mills are a massive threat to schools, students, and potential employees. To avoid this illegal activity, it is vital to make sure that students’ records are thoroughly registered and could be proved as authentic. That’s why blockchain could assure the authenticity of university diplomas. A great example is an eScroll™ system developed by LuxTag®. This revolutionary concept works by scanning a QR code on a diploma or other official document issued by an accredited institution. After scanning the code with the LuxTag’s application, the record is registered on a blockchain, where authorized parties can access data about a student and her or his diploma.
Distributed digital ledger has a feature of executing smart contracts. With this benefit, academic institutions could expedite operations and save money. Education sector’s budget should be distributed in a way to economize funds, by using smart contracts, an institution can cut additional work and paper waste. This feature would lower the risk of error, as physically signed documents can be lost or easily compromised.
Additional payment methods
As the academic sector is rapidly digitizing, it is essential to transform as many related areas as possible. One of them is retail; it could be modernized in a way that students and university workers could pay in virtual currency inside their campus. Adopting cryptocurrency would push the education industry further and open broader opportunities. Blockchain-based education network could also benefit institutions financially.
Privacy and data protection
Universities keep confidential data, if it’s not preserved, it can be hacked, leaked or corrupted. When it comes to educational institutions, it is crucial to protect information and ensure the highest levels of privacy. It is where blockchain technology comes in handy, because of its immutable nature, it’s almost impossible to compromise the data it stores. With this in mind, many universities and higher education institutions could increase security levels and provide a more accessible system.
It is possible that blockchain and the education system will be cooperating more in the future. As the academic industry is facing new and more pressing issues, only innovative methods could help to avoid disrupting matters. Blockchain and the education sector could join forces and hand in hand work to ensure a better future for bright minds. Because without an accessible and appropriate education system world wouldn’t be able to step the next crucial steps.
®“LuxTag”, Trademark registered.
™ “e-Scroll”, Trademark of LuxTag.