Categories: Reports

How Can Blockchain Enhance Education?

The transparent and decentralised nature of blockchain technology can play a major role in enhancing the education sector.

Forged academic degrees became one of the problems facing universities worldwide. With the blockchain, all students’ records can be safe in a decentral database.

Some universities have been using blockchain technology for years.

Blockchain in Education

In 2017, the University of Melbourne began using this technology to issue digital certificates for students.

A 2019 study by Gartner Global Research and Consulting revealed that 2% of education workers have already started using blockchain, while another 18% plan to follow the same approach within the next two years.

Blockchain technology could help reshape the storage mechanism of students’ information.

In other words, Blockchain will lead to the issuance and storage of digital copies of certificates and university diplomas, which could eliminate fraud.

Enhancing Cryptocurrency Market

Moreover, blockchain can be used in creating a virtualised copy or record of all educational achievements throughout an individual’s life.

To clarify, this will help reduce resume’s fraud and facilitate procedures for student transfers between universities and countries.

The report said students paying tuition fees via cryptocurrencies could create a new market for digital assets.

He emphasised that the potential strength of blockchain technology is to establish a new educational model, automate administrative tasks, reduce tuition fees, and increase the salaries of faculty staff.

For instance, San Francisco-based Woolf University uses a unique blockchain-based education model.

Woolf promotes itself as a fully-accredited, borderless, and blockchain-powered university.

The university allows enrolled students to chose their teacher. On the other hand, instructors can choose to get their salaries in WOOLF tokens or their native currency. Using blockchain technology, Woolf University aims to create the Airbnb of degrees

Mohamed Tharwat

Cairo-based journalist, specialized in economics and finance markets

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