The technology which is propelling various cryptocurrencies and has skyrocketed the cryptocurrency market cap by storm is “BLOCKCHAIN”.

How does blockchain work?

The blockchain is tamper-proof, an incorruptible digital ledger of transactions that can be programmed to record not only financial transactions but virtually everything of value.

This distributed ledger technology uses various networks of nodes and spread out the data to millions of computers at the same time. Every single member of the community gets a copy of the information, and each member of the community validate updates together.

The Blockchain technology creates a self-checking network which is unmatched in its transparency, and can not be corrupted in any way.

So, one question pops up in our mind -

Can blockchain technology transform the education industry like it has transformed the financial sector?

Well, the answer is “YES”!!

The digital experts believe that blockchain technology is poised to disrupt almost every industry.

But, before moving further, let’s dive deep to understand the main problem areas of the traditional education system.

What can go “WRONG”?

Data can be changed (hacked), tampered or can be deleted — data loss through natural disaster or accidents

Institution/ Student can prevent the access or put conditions on the access of data

An individual can use data in an unauthorized manner

Managing huge volumes of data (more than 50 lakhs applications every year) and Hassles of dealing with tonnes of paper applications

The problem of fake certificates

Need for carrying of original certificates to verify authenticity

Lack of automation and spending of enormous amounts of manpower to conduct manual verification

So, now you must be wondering — how exactly do blockchain technology fit into the education field?

This image can help you in getting the better idea of how blockchain will help education sector:

According to co-authors Alexander Grech and Anthony Camilleri, blockchain technology will have a huge impact on any activity that has record-keeping of data or titles of ownership. They said:

“Within education, activities likely to be disrupted by blockchain technology include the award of qualifications, licensing and accreditation, management of student records, intellectual property management, and payments.”

Blockchain technology can end paper-based certificates, recognition and transfer of credits, automate the award, reduce institutional data costs and risks, etc.

The blockchain technology can provide a rich, secure and transparent platform to the education industry. Implementing Blockchain to education will have following benefits:

Benefits to ACADEMIA

Transparent and cost-effective credentialing model.

Lower costs through smart contracts, without intermediaries.

Student verification process becomes fast and easy.

Individual’s degree certificates cannot be hacked or deleted.

All the Authentic information will be secured and tamper proof.

Certificates, awards achievements cannot be faked.

Benefits to students

Individuals can store their data securely in the blockchain, protecting it from malicious insiders who can manipulate with it.

Easy to carry, without any fear of certificates getting lost & Make it available instantly whenever required.

With the help of blockchain, it becomes easy for every individual’s record to be verified in time. Hence, reducing the time and effort during the admission process.

Following are the ways, in which blockchain will transform the future fabric of education sector:

1)Disrupting the Current Education Model

Education is not just confined to schools or colleges there are multiple other opportunities where students can get educated formal and informal environments. There are so many workshops, online courses, conferences and MOOCs(Massive Open Online Courses), etc. which provides learning and certificates to students at different levels.

Micro-accreditation can occur through a blockchain, allowing for the easy validation and transfer of skills and credentials.

2) Blockchain can eliminate the usage of paper. Yes, implementing blockchain technology to educational institutes can reduce endless tree-killing for making paper. It can store all records, certificates and awards, keeps track of learning achievements, securely and permanently for the lifetime.

3) The long waiting to validate certificates can be skipped. Colleges won’t have to send a copy of your transcript or degree certificates to other institutes to prove individual’s authenticity. Data can be verified instantly using Data as a service(DaaS) APIs.

4) Educational institutions will save more money. As every individual will be part of the blockchain system and they will have control and ownership over their own data, educational institutes can directly reduce the cost of data management and administration costs, if data is not kept safely has to face legal issues.

5) Making Credentials More Credible — The MIT has already started using blockchain technology to issue virtual diplomas. They have created an app, Blockcerts Wallet, to issue diplomas. This digital certificates are secured and are tamper-proof, and students can easily receive and share these certificates via their smartphones.

Sony Corporation and Sony Global Education have developed a platform by using IBM Blockchain, which compiles and manages records of students from various schools, to verify the credibility of the credentials submitted to them.

6) Keeping every record of student secure and accessible in the Cloud. Individuals working in the institutes can misplace essential papers, including students who can lose their certificates due to unfortunate reasons. Data may also get lost due to any natural disaster or get deleted or hacked by some unknown person. Implementing blockchain can prevent of all these mishappenings.

7) Providing the global assessment of the credentials. The current system of paper certification is subject to many problems, including loss, fragmentation, even fraud. With increasing usage of the mobile device, virtual certification will make it easy to carry your various certificates along with you, whether you’re moving to the new institute, getting a new job, or moving to a whole new country. Also, verification of credentials becomes a lot easier with blockchain.

8) Building Trust — Individuals consent can be taken prior to accessing their records to build the greater trust in the process while verifying the credentials.

Several educational institutes around the globe have already implemented blockchain technology and reaping huge benefits.

Universities like MIT, Open University UK, etc. has currently implemented blockchain technology to improve the access of students to higher education and enhance the transparency of qualifications through open badges, MOOCs, and e-Portfolios.

Also in India, Zebi along with the government has already implementing blockchain solution to real-estate sectors and are now looking into various other sectors, including education sector.

Following infographicshowcasing Zebi’s blockchain solution for education sector:

Will your INSTITUTE be next?

Contact Zebi to know more.