The Education industry is to witness a huge transformation with Blockchain!

Blockchain is an evolving and innovative technology that is taking the cryptocurrency industry to new heights. Now the scenario is changing and this technology is all set to bring changes in the education sector as well. Being an Immutable ledger technology, blockchain can help uplift the education scenario across the globe.

Blockchain in education – The future of learning!

With blockchain being implemented in the education domain, a huge transformation is on the way with increased transparency and improved accountability. Since the inception of this technology in the digital asset space, Blockchain development in India and across the world is gaining fame for extending far beyond its current applications.

Global outlook –

·  The global education industry is predicted to become a $10T industry by 2030

·   Global scale digital transformation is highly expected

·   Potential rise in upskilling and reskilling in the developed countries

·   New use cases are being discovered with limitless potential

The education industry is one industry where blockchain will be making a mark, however, its application in the industry is still in its infancy. Same as the finance sector, the education industry is equally important and can be improved using blockchain technology.

How can blockchain help the education industry?

After impacting every other sector, blockchain is now making a mark in the education sector and is slowly becoming a game changer. As the name – blockchain suggests, it is all about information blocks that are secured by algorithms that can be hard to tamper with. Here are the top use cases where blockchain is impacting the education sector –

·  Transparent record-keeping:

Managing student records for any educational institution across the globe is a tough job. Blockchain has the perfect solution in terms of tracking, storing, and managing a huge database holding student credentials. Implementation of blockchain in record-keeping eases the manual burden and every record is saved in the database using a direct link.

· Certificate credential management:

Blockchain can help in storing a student’s diplomas and can issue certificates. With blockchain managing the issuance of certificates the institutions do require to separately produce the diploma to certify a copy, everything can be provided with a link entitled for digital diploma.

·  Lower costs:

Being an Immutable ledger technology, blockchain has the potential to transform the education system by offering more cost-effective ways. Managing tuition payments from students can be a labor-intensive process, blockchain can streamline the entire process by reducing administrative involvement and lower tuition costs extensively.

·  Digital rights protection:

Blockchain technology can help monitor student credentials, facilitate school, secure intellectual property rights, and prevent transcript forgery. Educational records once stored in a blockchain network can be easily accessed and shared with other schools, future employers, etc.

·  Assignment management:

Teachers of any educational institution can use blockchain-based smart contracts to create a digital agreement with students in terms of completing assignments for every semester. Individualized learning is promoted with smart contracts which can create a motivational element that was earlier missing in traditional schooling systems.

Concluding up, implementing blockchain in the education industry can certainly help both students and educational institutions and it can provide a transparent and cost-effective process. With blockchain backing the Education industry, educators across the world can join hands can provide education to young minds and improve their skills.