Blockchain & Crypto; The Whole Guide To DeFi
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In the rapidly evolving world of technology, blockchain has emerged as a powerful catalyst for change with immense potential in various sectors. Recognizing this transformative force, the National Information Technology Development Agency (NITDA) has taken proactive steps to facilitate the adoption of blockchain technology in Nigeria.
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Blockchain is being implemented across various industries and fields which education is among. With the help of blockchain technology steps have been taken towards revolutionizing the education system. This system can be applied to many aspects of the education sector while removing slow and outdated workflows. It is the future business model of supply chain and can be applied to the education value chain.
There are large number of potential uses of blockchain in education system which few I will discuss. Blockchain system offers in bringing teachers and students together. As a ledger that keep track of and store information, it could be used to enhance library and information services in schools. Also, the system help students with test prep.
Online education has afforded people the ability to learn new skills from the comfort of their own homes changing all components of teaching and learning in higher education. Many of them encounter serious challenges that prevent them from successfully completing their courses. The major challenges faced in online learning are; user retention/completion rates and lack of intermediate level courses. Solution to these two and many more issues in online learning is what blockchain offers in education system with regards to online learning.
Blockchain generate a token for any student that enroll in a course. The above mentioned problems with online learning can be solved with blockchain through tokens. Aside from rewarding a student with a grade, each student receive a reward for progress in a course with a blockchain token which can be exchanged for other cryptocurrencies and eventually receive cash. Also, with blockchain tokens, educators can get rewarded for creating high-quality content and this will help fix the lack of quality educators in certain fields. Thus, this token provide some encouragements for educators and for students to complete their online courses.
However, this isn’t the only benefit. Blockchain is a solution for trust issues. Blockchain offers the possibility of decentralized education platforms maintained by consensus. Blockchain is very useful in securing student data with the risk of a hacker changing their grades, adding unearned certifications or deleting the entire database. A record in blockchain cannot be falsified. With blockchain, students gain full control of their data. They can access and verify every detail of their history online once an educator adds an individual’s certificate(s) to the public ledger.
During hiring process by companies, one can create fraud degree and certificates and this has become a huge challenge in education sector. Blockchain technology is capable of preventing fake CVs and false degrees. Thus, this technology can store student’s qualifications on the blocks that are code encrypted to prevent duplication and wide circulation of the documents. With smart contract on blockchain, CVs can be protected with a code. Hence, during hiring process, the company will be able see the students or job aspirants qualifications.
Blockchain in higher education is a useful way of reducing administrative costs and making certification validation more secure and publicly accessible. The blockchain could also prevent corrupt politicians and other public figures who lie about their qualifications.
Blockchain will completely eliminate the problem of fake CVs. Blockchain technology implements trust in as much as everyone in the system can check what a student has learned, what certificates he has rather than having to rely on institutions to store that data. With QR code, graduates can put their CV, which employers can scan to verify their qualifications.
The transparency and decentralization of blockchain technology can take education system to the next level. Blockchain offer a room to store documents, texts, and journals on the blocks.
Blockchain technology in education provides added security and incentives in the sector as student struggle to acquire their desired certificate. With these, we can predict the impacts and future of blockchain on education.
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