If you are not aware of a Blockchain technology, then you have to understand a few important moments. For example, Investopedia explains Blockchain as a technology that allows market participants to keep track of digital currency transactions without central recordkeeping. In other words, no single entity could control the information published therein. Making an analogy to Wikipedia, where every article can be controlled or updated by different authorities, blockchain offers another path of keeping data. All computers connected to the system are getting a copy of the blockchain. So, in a situation when something breaks down or simply disappears, the information remains on other computers.
Many experts tend to believe that blockchain technology can be applied to other industries and make a strong impact on their development. Some started to think about how it would be possible to use such technology in the education field. Let us go through the potential examples.
The Knowledge Reward System
While other still discuss the theories of applying blockchain to different fields, Knowledge.io developed a startup, and its main idea to change the way knowledge attainment and sharing is provided through its blockchain technology, or in this case, Knowledge Score System. Any student’s proficiency can be monitored and measured on a wide range of topics through the mentioned system.
Knowledge tokens are created and then disbursed as a reward for all participants in the so-called “knowledge ecosystem”. The traditional system of getting grades has been changed to knowledge tokens, and you can use them to buy products from the main marketplace and other external exchange platforms. Such marketplace will carry over 300,000 products, provided by the main merchant partners. Textbooks and videos cannot be transferred, and Q&A sets can be automatically generated around these materials so that people would use them in education, training, certification, or in other areas of study.
Moreover, Knowledge.io came up with the idea of integration with COPPA compliance partners, meaning that children can actively participate in the process of earning tokens to apply to college tuition and other life improvement activities.
Making Credentials More Credible
The Massachusetts Institute of Technology, one of the first universities to develop a special app, called Blockcerts Wallet. The main idea is to let students keep their diplomas virtually, in their smartphones, as an additional alternative to the traditional paper ones. They are tamper-proof, and students can share them with other schools, or employers, or relatives, or friends. This is the perfect example of blockchain technology being used, in addition to Touchstone, the MIT’s identity provider that ensures the security of students’ diplomas.
The blockchain technology becomes very popular among the giants of some industries. Sony Corporation and Sony Global Education made an interesting development of a platform that stores up and manages student records from several institutions. School administrators or recruiting firms can use such platform, to verify the credibility of the credentials submitted to them. Fake certifications or degrees being received from the dark corners of the internet can be no longer eligible due to the technology of such system.
Keeping Records Virtually
The blockchain technology can be a progressive and helpful if it comes to misplaced papers or lost diplomas. Many people, who had issues with such situations, now can benefit from blockchain-encrypted credentials, since it is impossible to wipe out the information and you can always get access to such records.
The revolutionary factor of blockchain technology can change the education system by bringing new concepts, as well as many possibilities. However, some ideas are still in the theory phase, and they raise more questions than answers by far. Some strongly believe that it is impossible to apply a blockchain to education, but same expectations people had with huge concepts that we have now – the internet, online payment, or even outsourcing. While many experts are working towards the development of blockchain technology in education, the overall prospects are quite good.