Cryptocurrency

How blockchain technology will pave the future of education

By: Dale Arasa - @inquirerdotnet

Inquirer Los Angeles / 07:26 AM August 18, 2021

Blockchain technology is changing every part of our lives. Now, blockchain & education is one of its most ground-breaking trends. As this spreads worldwide, you’ll see why you and your children will need blockchain education!

We’ll start with a quick discussion on blockchain to get readers up to speed. Then, we will go through the numerous benefits, risks, and hurdles for blockchain & education. More importantly, we will explain why you need to learn about blockchains too.

Blockchain technology is more than just cryptocurrency. It’s changing various industries and fields, specifically the education sector. Whether you’re sending kids to school or attending one, you should know how blockchain will impact your life!

An overview of blockchain technology

You may have heard of bitcoin. Even if you’re not interested, you may have seen it countless times on the news and in other sources. Just what is it, though?

It’s the first cryptocurrency released by someone named Satoshi Nakamoto. It runs on a peer-to-peer network that uses blockchain technology.

This network is made of several computers owned by regular people. They are called miners. They validate transactions to get more bitcoin in return. Here’s how it works:

A bitcoin transaction occurs. It is protected by encryption. It can be confirmed with a specific code.
It’s up to the miners to figure out the code. Their computers will perform thousands of calculations to do this!
Once a miner gets to the “winning solution” first, they get proof-of-work. A new block is added to the network. This is why we call it “blockchain.”
What’s more, the miner earns a block reward. As we said, this means more bitcoin.

A public ledger is stored on the blockchain. It’s in charge of recording transactions occurring with bitcoin. You’ll only see the bitcoin addresses and amounts involved, though.

It came out as open-source software in 2009. This allowed lots of people to tinker with it freely. As a result, we now have numerous kinds of cryptocurrency.

How can blockchain technology improve education?

Blockchain tech has gone a long way from cryptos. We now get more features from it. These include smart contracts and non-fungible tokens (NFTs).

It’s not just for financial services anymore. For example, it’s making food supply chains more efficient than ever. Here’s why blockchain & education is a great combination too:

Student records – This becomes difficult when you’re verifying student information. This gets worse if a student transfers schools. You’ll have to go through several steps to get signatures from several offices. Cardano (ADA) is already helping with this in Ethiopia.
Certificates – Some people print fake diplomas to trick employers. Blockchain could prevent this by saving proof as a digital credential. This doesn’t mean we’ll get rid of paper diplomas soon. Instead, this will make sure no one can pretend they’ve studied at the same school!
Resume info – We can now learn skills from online courses. It’s hard to include them in resumes, though. This type of network can prove people have learned these skills. It will record a third party’s verification to show employers that a person has them.
File storage – Schools store a lot of information regarding educators, students, and other relevant details. Printing them all will require huge physical space and tons of paper! Blockchain has enough digital space, though. Filecoin (FIL) already provides this service.
Next-gen library – The problem with existing libraries is they take too much space. Eventually, you’ll run out of space to place all the books. Students will find it easier to find books too! This network type could host future libraries.
Courses – We could program classes to work with blockchain technology. Let’s say a teacher sets up tasks for students. Each time they complete one, the network takes note of it. Once all of them are complete, teachers earn crypto coins, and the students receive credits.
Publishing – Grad students often struggle to get their works published. Blockchain could help them break into the industry. It can help them manage copyright and prevent piracy.

What’s stopping schools from using it?

You can find obstacles in the way of change. Mixing blockchain & education won’t be easy. Also, there are issues in adopting this tool. Let’s take a closer look:

Transition – We simply can’t drop the existing education platforms outright. Schools and universities still rely on them. Replacing them with blockchain networks will take a lot of time.
Costs – Schools will have to spend a lot if they want to use blockchains. They will face massive budget problems because of the pandemic. Two-thirds of poorer countries are already slashing education budgets due to COVID-19.
Learning curve – Let’s say schools have the time and money. Their staff will likely have a hard time adjusting to it. After all, many people still don’t understand blockchain technology.
Less school control – Colleges and universities have been used to having so much control over their records. They might not like this power taken or even reduced. In turn, they may not want to use a private or public blockchain.
Standards – All schools should use the same standards for blockchain. Otherwise, they would have a hard time making their systems work with each other. This technology is relatively new, though. As adoption grows, standards change.
Existing data – Schools have to figure out what to do with their existing records. Should they place them in the new networks? If so, how will standards work for this situation?
Blockchain for all – The new systems should satisfy the needs of various people. These include governments, schools, students, and teachers. Their needs may sometimes get in the way of one another. Still, blockchain must work for all parties involved.

Why do we need blockchain education now?

Blockchain technology can bring a learning experience of a higher level. As we said, it’s spreading into numerous fields. It’s about time you start learning about them!

This doesn’t mean you have to learn IT or coding. You’ll have to be ready when it reaches your field of expertise! Still, you must at least have a general idea of how they work.

If you’re still studying, even better! Blockchain education can prepare you for the changes ahead. Here are other reasons why it’s important:

Blockchain is worldwide – Countries are starting to adopt it. Soon, you won’t find a place in the world that doesn’t use it. Make sure you’re not left out.
More opportunities – We’re seeing more openings for blockchain jobs lately. A blockchain education now can help you get the best positions later. Check out some of the most promising ones by clicking this link.
Industries will change – You’ll see blockchain in your profession sooner or later. Why not learn about it before it arrives? That way, you’ll gain an edge in your career!
Lead the change! – Blockchain technology is changing the world. If you ever wanted to make a difference, this could be your chance! Blockchain education can help you steer where it’s going.

Now, more groups promoting blockchain education. For example, the United States has the Executive Blockchain Initiative. Its goal is to apply distributed ledger technology to US education.

The Philippines now has its first university-based blockchain lab. The Ateneo De Manila University set it up in 2019. Its goal is to adopt blockchain technology in various industries.

Final thoughts

Your blockchain education shouldn’t end in the classroom. This technology and everything else is constantly changing. Your response should be lifelong learning!

The internet has plenty of free resources. Use them to be up-to-date with the latest with cryptos and the world. You may start by reading more articles from Inquirer USA.

Then, you may search for online courses. You can earn a degree from a college from far away without leaving home! Even the biggest schools offer their courses on the internet.

Learn more about blockchain & education

Why is blockchain education important?

Blockchain technology is changing our lives in so many ways. This will help you make sense of it all. What’s more, it can help you compete in today’s job market.

How do I start studying blockchain?

You may now find blockchain education in various schools. Moreover, you can learn the subject from numerous online courses. Pick the one that suits your budget and skills.