6 WAYS TO TRANSFORM EDUCATION IN BLOCKCHAIN
Blockchain is a Distributed Ledger Technology (DLT), which enables users to have their data stored, open, anonymous, and secured. Blockchain has been a disruptive technology in education, healthcare, supply chain, finance, and construction, and many other sectors. The major feature of blockchain is, it’s secure with the highest possible data integrity, privacy-centric, and open nature.
Woolf University, formed by Oxford professors imagines a different kind of university, one that is distributed and democratic. Joshua Broggi, Faculty of Philosophy, is the founder of Woolf Development, a platform start-up that aims to leverage Blockchain technology to remove higher education intermediaries, support decentralized governance structures and ensure the security of data.
1. TAMPER-PROOF CERTIFICATION
Using blockchain to issue digital credentials, enabling students to share verified copies of their qualifications with Human resource agencies, employers, and other third parties in a tamper-proof system. So that academic data cannot be manipulated. DLT provides an open infrastructure for creating, issuing, viewing, and verifying blockchain-based certificates.
2. SCORING THROUGH BLOCKCHAIN
Student everyday performance in class can be recorded through smart contracts, implementing blockchain technology. The software will save everyday records, which can be accumulated at the end of the academic year as an annual evaluation of the students.
3. INTELLECTUAL PROPERTY SAFETY MEASUREMENT
Blockchain ledgers can save data on research projects, new ideas, and innovation of each academic year separately. None can steal any ideas or project detail. Intellectual properties in every aspect can be saved and tracked down through registering the IP assets, copyright, and patents.
4. RELIABLE AND SMOOTH VERIFICATION PROCESS
Blockchain is the best solution to secure data. Educational Data and details can be secured from Playschool to Lifelong education. When a student will move from one institution to another for higher education or professional education in the future or from one state to another or else one country to another, the blockchain asset address will be transferred with full educational history. Blockchain will reduce fraudulent claims of unearned educational credits.
5. COST EFFECTIVE
Automation is a big boost for implementing blockchain in education. Blockchain can automate the admission procedure based on the relationship between learners and educators. Payments can be done through a blockchain wallet, a completely digital and transparent payment option using a smart contract. Educational institutions can reduce administrative costs, accounting costs, and other allied expenses.
6. EDUCATION FOR ALL
Currently, the right talents do not get the right path to take forward. Mostly students choose the wrong stream of education and suffer for lifelong. Blockchain data based on each student’s everyday performance can make a data analysis that will suggest students on which they have their core competence for the future. Without wasting time in exploring failure due to job dissatisfaction, technology can assist best to each student.