Blockchain Education Today May Produce Tomorrow’s Web3 Champs: IBT

Many people often confuse blockchain technology with cryptocurrency. With the rapid expansion of the technology into the mainstream, users are finally getting familiar with the concept. For those who are skeptical of the technology, they need to take a look at the calculations to see how big the wingspan is at the moment. That too without a mass adoption.

Blockchain can simplify complex processes

Educational institutions are a big part of students’ careers, but a few complex processes like obtaining degrees can hamper their future. According to the International Business Times (IBT), the US-based online newspaper, young visionaries are more important than crypto traders for global web3 adoption. Blockchain can help create permanent immutable academic records.

This can ease the students’ burden of obtaining important documents, including degree confirmations and other identification. Blockchain can help them considering that they are required to present their achievements to get jobs, professional certificates, foreign work permit and more. The editors also cited a calculation from the World Bank which highlights the number of students who have grown from 100 million in 2000 to 220 million currently.

In addition, students sometimes have to pay large sums to obtain identification, but they still cannot avoid the lengthy process. Blockchain can help improve the alumni experience as the technology can eliminate time consumption. Degrees are better accessed on a distributed ledger across borders rather than a physical document. This will also simplify the transfer process between institutions.

Postsecondary institutes are also developing hubs to advance blockchain research. Such initiatives can also contribute to solving long-term challenges through collective brain power, according to IBT. In addition, the paper also highlighted that early access to blockchain today can help produce web3 champions tomorrow.

Blockchain has already gone mainstream

A survey by Blockdata, a blockchain market intelligence platform, shows that over 81 of the top 100 companies are involved in either research regarding the technology or have already implemented it. Hyperledger Fabric, among many, remains the most preferred platform by these organizations followed by Ethereum and Quorum.

Furthermore, over 50 of the top 100 companies have gone beyond the pilot phase, while 27 have actively integrated the technology in their operations. Companies such as BlackRock, Apple, Qualcomm, Adobe and more are engaged in blockchain research. Nvidia, apart from engaging in blockchain technology, is also working on virtual worlds using Omniverse, their metaverse platform.

While cryptocurrencies can be held responsible for bringing blockchain to light, the technology goes beyond that. International Business Machine (IBM), the American technology giant uses the solution for its supply chain. Amazon’s AWS network offers ‘Managed Blockchain’ services tailored to individual business needs.

Governments around the world need to start taking initiatives to educate people about blockchain technology. Increased engagement with the technology will potentially unfold its untapped potential. In addition, such initiatives will help people step out of the “crypto box”.

Anurag has been working as a founding writer for The Coin Republic since 2021. He likes to exercise his curiosity muscles and research deeply into a topic. Although he covers various aspects of the crypto industry, he is quite passionate about Web3, NFTs, Gaming and Metaverse, envisioning them as the future of the (digital) economy. A reader and writer at heart, he calls himself an “average guitar player” and a fun soccer player.