Blockchain In Education Sector Trends In 2023 Beyond
Blockchain technology in the education system has the potential to provide a number of benefits such as reduced risk of fraud, improved efficiency, increased access to education, etc; it has the potential to transform the education sector by creating new, more accessible channels for learning
Just like the other modern technologies like artificial intelligence, augmented reality, machine learning, robotics is rapidly emerging in the education sector. Likewise, blockchain technology in the education sector is paving its way with new waves of change and bringing solutions formulated from different industries that go far beyond the original focus on finance and cryptocurrency.
From accessing credentials and academic records to validating transcripts, all of these vague processes in the traditional education model are major obstacles to growth and can be easily solved with blockchain-based software.
The main advantages of blockchain technology are decentralized storage, traceability, immutability of stored information and transparency. The revolutionary impacts that blockchain technology is making for the education sector are many. Many educational institutions are now implementing blockchain-based tools to automate the tedious processes.
Blockchain technology has the potential to revolutionize the education sector. In India, blockchain can improve educational outcomes, streamline administrative processes, and increase transparency and accountability.
Currently, the institutions that have incorporated blockchain use it primarily for the storage and sharing of students’ academic records and credentials. However, modern technology has the potential to revolutionize the education sector in a number of ways.
Let’s look at some of the areas where blockchain could play a crucial role in the education sector in 2023:
Blockchain and digital student diplomas
In recent years, digital diplomas have become the biggest examples of how blockchain can transform the education sector. Moving from a paper-based degree to digital diplomas; the institutes can store the student’s information on a blockchain. Storing diplomas on a blockchain gives students access to own and manage their academic achievements and gives them the ability to share them when and where they choose.
Copyright protection
Plagiarism is one of the major problems facing academic institutes. When a research paper is copied, a lifetime of work can be wasted. Blockchain-based technologies have the potential to regulate how copyrighted content is distributed online. The main goal of blockchain technology is to securely store the data recorded in a chain. Once stored, this data cannot be changed/modified manually because it is protected by cutting-edge encryption. This enables students to safely access teaching materials. The owner can easily manage access because the use of the content is also tracked in the chain.
Reduce education costs
Blockchain has the potential to transform the education landscape by opening up new, eliminating tedious and labor-intensive processes, cheaper pathways to learning, and disrupting the existing relationship between schools and students. For example, payment of fees is a time-consuming process as it involves multiple parties, including students, parents, banks, foundations or government agencies for scholarships, lenders and various university departments. This procedure can be easily streamlined using blockchain, which can result in lower administrative expenses and even lower tuition fees.
Financing of education
In academic institutions, financial accounting is a key role that involves time, manpower, money. And blockchain technology can easily fit in here and can effectively manage teacher salaries and student grants, creating a transparent and fair system for funding grants and projects.
Evaluation of courses
Blockchain can also be used for smart contracts. This can help a course instructor create smart contracts, which outline a list of tasks required to complete the courses.
Better implementation of lessons and courses
A blockchain-based system could greatly benefit universities by simplifying the process of storing digital syllabus. Currently, institutions use hard drives to store a digital curriculum which comes with many security issues. Thus, blockchain technology is a promising solution for securing university curricula.
Accountability via smart contracts Through the blockchain, students, teachers and university administrators can engage in the smart contracts. For example, both students and teachers can enter into a digital agreement that includes an agreement parameter, maturity together with a grading deadline.
Incentivization
Tokenization is the cornerstone of blockchain. In the future, academic institutions will be able to motivate students to pay their student loans on time, while teachers will be able to motivate students by awarding students cryptocurrency for their achievements.
The use of blockchain in education is still nascent, with only a handful of institutions adopting the technology so far. Blockchain technology in the education system has the potential to provide a number of benefits such as reduced risk of fraud, improved efficiency, increased access to education, etc. It has the potential to transform the education sector by creating new, more accessible channels for learning and upgrading the current relationship between academic institutes and students. The coming generations will greatly benefit from using revolutionary blockchain technology in the education sector.
