The role of blockchain technology in Education and Business

The role of blockchain technology in Education and Business

Welcome back our readers, in this article, we are going to discuss the various roles of blockchain technology in the education sector and the business world. Before we go any further, what is blockchain technology?

Blockchain technology refers to a decentralized, distributed ledger that records the provenance of a digital asset. According to latest research, blockchain is becoming a very popular or common word today. Some people have used Bitcoin at a point when making online payments. Other sources define blockchain as a distributed ledger or what makes Bitcoin and other cryptos to work. Additionally, it is the most applicable technology in cryptocurrency. Well, many people are starting to use blockchain in the business and education sector given its safety and integrity.

There are so many benefits to using blockchain technology most especially in higher institutions of learning.

The following are the benefits of blockchain in the education industry.

  • This kind of technology helps to verify student records

Blockchain technology helps to transform record keeping of students’ certificates and credentials in these learning institutions. Therefore this means that there is no necessity for an intermediary to verify degrees, certificates, diplomas with blockchain technology.

  • Blockchain Technology reduces Cases of Fraud in Education

I am sure you very well know that education is one of the most affected sectors by fraud and hacking. There have been cases all over the internet of hackers manipulating and deleting information from education systems. Most of them do this for political gains to their candidates who are awarded with fake certificates. However, with blockchain technology all this becomes history. Additionally, this kind of technology always ensures that there is a consistent and transparent ledger for all academic documents. It’s not always easy to change students’ information once a college records it in a ledger. This is simply because you will need permission from the network users to manipulate this information.

  • It Decentralizes Online Learning

Learning institutions can use blockchain technology to ensure decentralized online learning. It helps students and instructors share information in real-time. When blockchain technology decentralizes online learning, institutions will not dictate the type of courses to publish and the amount to charge on every online course.

  • Blockchain Technology gives content creators Protection from Copyright and Digital Rights Violation

In this error, plagiarism is the order of the day in most of the learning institutions. For instance, students copy and paste digital content when doing their end of course research proposals which ends up costing them a lot. I have seen a student lose marks due to plagiarism. Therefore, with blockchain technology, all content creators will curtail the dispersal of copyright educational materials online. This technology helps people keep records (academic information) safely and in a secure chain with advanced encryption.

  • Helps to create better Learning Platforms

Blockchain technology will be useful in the development of better online learning platforms. Notably, universities can develop convenient education systems and projects connecting students and teachers. Using the education concept, schools enhance access and sharing of study materials. Users buy internal tokens to ask for feedback from standby online tutors. They can also download learning materials and access other education services.

In conclusion, blockchain technology is one of a kind and is the reason why it is developing so fast. Very many sectors for example education, Banking and other sectors have jumped on to it. Let’s now look at the role of this Technology in the Business Sector.

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  1. Trust
  2. Decentralized structure
  3. Reduced Costs
  4. Improved Security and Privacy
  5. Visibility and traceability
  6. Speed
  7. Innovation
  8. Tokenization
  9. Immutablity

This article will be updated in a weeks’ time to break further the roles of this technology in the business sector in detail.

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