Imagine having the ability to learn from the best universities in the world at the comfort of your home, and get paid as you do so.
Sounds like a dream, right? But what if I told you that this is not only possible but also the future of education?
Don’t think too far as blockchain technology is transforming the way we learn, thus making it more accessible, secure, and rewarding.
With blockchain-based learning platforms like Open Source University (O.S.U), you can now access top-notch educational resources, earn cryptocurrency for completing courses, and own your credentials forever.
This article goes deep into all you need to know about this innovation called decentralized education. It also explores the rapid adoption of blockchain in education, and the way blockchain is changing the game for learners everywhere in the world.
Key Takeaway
- Blockchain technology is an open source, digital record book that records transactions and data across a network of computers in a secure and transparent manner.
- It is the underlying technology behind cryptocurrencies like Bitcoin and Ethereum, but its applications extend into various industries like healthcare, supply chain, finance & also education.
- A popular use case of blockchain in education among institutions is in the keeping & management of student records, the creation of tamper-proof & secure digital transcripts, credentials, etc.
Blockchain In Education
In 2009, the first Blockchain, the Bitcoin blockchain, was launched by Satoshi Nakamoto. Several years later, what seemed to be an unsure innovation, spiraled into a massive revolution, taking different industries by storm.
Today, blockchain has changed the traditional system of various industries like finance, supply chain management, and healthcare.
This is because it is a decentralized solution providing secure and transparent ways for people to store, transact and track various transactions & records without these records being altered by anyone.
This makes it ideal for industries that prioritize trust, security, and efficiency.
Aside from these industries listed above, another sector blockchain is slowly changing is the education sector.
According to HolonIQ, The education industry is worth $5 Trillion today, and will be worth $10 Trillion by 2030. Its growth projection is at 4.5% CAGR and it makes up over 6% of Gross World Product (GDP).
Although this sector is fast growing while contributing to the world’s GDP, it faces various challenges and setbacks which blockchain seeks to address.
Some of these challenges include the Inability to track and verify students academic records, achievements and credentials, etc.
Currently, blockchain is in its infancy, and only a few institutions have adopted it. However, research by ResearchGate has suggested that this technology has major potential to transform the education sector while improving the efficiency and transparency of educational systems from pre school level to university level.
By integrating blockchain into the educational system, institutions can create a secure and transparent system for tracking and verifying students’ academic achievements, credentials, and certifications.
Thereby improving the efficiency and reliability of the education system while making it easier for students to showcase their skills anywhere in the world.
Related: Blockchain in Healthcare: Benefits and Use Cases
5 Ways Blockchain Is Shaping The Educational System
All over the world, the subject of blockchain technology is mostly associated with cryptocurrencies such as Bitcoin, Ethereum, etc. However, this technology has many benefits other than cryptocurrency.
Today prominent institutions like the Imperial College in London have begun exploring the potential of blockchain in education.
Below are some of the ways blockchain has been utilized in the education sector.
Record Keeping & Management
A popular use case of blockchain in education is in the keeping & management of student records and data.
This is because the number of student records keeps growing every academic session, making it overwhelming and time-consuming to verify academic data and documents, with a lot of paperwork and case-by-case checking.
Blockchain helps to eliminate much of the stress associated with this process thereby streamlining verification procedures.
With the help of blockchain, educational institutions prevent fraud and falsified credentials by using this technology to ensure that every credential owned by the student of its institute is genuine.
Graduates can showcase their credentials to their employers with confidence, and in turn, employers can verify these credentials on the spot, thereby reducing the time and resources spent on background checking.
Courses & Assignments
With the rise of e-learning platforms, blockchain-powered automated learning platforms help to streamline educational processes with the help of smart contracts.
These contracts help to execute tasks such as the grading of assignments, tracking progress of a course by students, awarding certification upon the completion of a course, creation of various learning pathways for students based on individual performance.
Also by automating administrative tasks, educators can focus on what matters most – teaching and mentoring. Meanwhile, adaptive learning systems create a customized learning environment for each student, adjusting content delivery to meet their unique needs and abilities.
This personalized approach fosters deeper understanding, improved academic performance, and a more engaging learning experience.
Tuition Payments
Various sectors apart from finance have adopted crypto payment into its systems, and the educational sector is not left out.
With the use of Blockchain, payments of tuition are error free with the elimination of intermediaries. This in turn helps to reduce transaction fees, processing times and the overall backlog that comes with paying for tuition. For example, Swiss Vocational School Lucerne University accepts bitcoin for tuition payments.
Payments of tuition fees, or educational programs are now secure and transparent.
Transcripts
A transcript is a detailed, official document that records a student’s academic history, including the courses taken, grades earned, credits earned, certifications and diplomas awarded, academic achievements and honors, etc.
The creation of tamper-proof and secure digital transcripts is an added benefit of Blockchain in education. This helps to replace the need for traditional paper-based transcripts, which can be easily lost, damaged, or tampered with.
Challenges
Although the use of blockchain in the educational sector comes with many potentials and benefits, it also comes with its own challenges.
Here are the challenges below:
- Scalability, Cost & Funding
Blockchain networks can be expensive. This makes it hard for institutions to adopt it to handle large-scale educational applications, such as processing thousands of student records or transactions.
Also Implementing and maintaining blockchain-based systems can be expensive, requiring significant investment in infrastructure, development, and maintenance.
- Regulatory uncertainty
The lack of clear regulations and standards hinders adoption and implementation, as educators and administrators are unsure of how to comply with existing laws and regulations.
- Interoperability
This is still a very limiting factor in the blockchain industry as different blockchain platforms and systems are not compatible. This limits data sharing and collaboration between institutions, departments, or even countries.
- User adoption and understanding
Many educators, administrators, and students still need training to effectively use blockchain-based systems. This requires a lot of investment for this to happen.
- Standardization of credentials Blockchain-based credentials require standardization to ensure recognition and acceptance across institutions, industries, and countries.
- Governance and decision-making Blockchain-based systems require clear governance and decision-making processes, including who controls the network, makes decisions, and resolves disputes.
Blockchain Learning Platforms
Blockchain-based learning platforms are digital institutions that utilize blockchain technology to create decentralized, secure, and transparent ecosystems for learning.
These platforms are built on a distributed ledger technology, allowing for secure, transparent, and tamper-proof data storage and management.
They stand out from other e-learning platforms in the sense that they are:
- Decentalized
This means no single entity controls the platform, ensuring equal access and opportunities for all.
- Heavy on security
Data on these platforms are protected through advanced cryptography and consensus mechanisms, ensuring confidentiality and integrity.
- Transparent
All transactions and data on these platforms are publicly visible, promoting trust and accountability.
Today, there are a growing number of blockchain-based learning platforms in the world. A good number of them are built on this technology itself, while some have integrated the technology into its learning platform.
Many of these platforms are focusing on skills verification and credentialing, thus recognizing the need for more flexible and accessible ways to demonstrate skills and knowledge.
Some of these platforms include:
1. Learning Machine
Founded by Chris Jagers and Brian Kelly in 2016. This platform utilizes blockchain technology to issue and verify credentials.
It allows individuals to control their own learning records and credentials. Today, Learning Machine is in partnership with MIT, Harvard, and other institutions.
2. Open edX
Founded by Harvard and MIT in 2012 but integrated Blockchain technology into its platform in 2019.
Open edX is a decentralized learning platform utilizing blockchain for secure and transparent credentialing.
This platform offers courses from top institutions worldwide, including Harvard, MIT, and Microsoft and has over 30 million learners worldwide.
3. Sony Global Education
This platform was founded by Sony Corporation in 2017. It is a blockchain-based platform for secure and transparent learning records.
This blockchain learning platform enables students to control their own data and learning journey. Today it is in partnership with various Japanese institutions and its government.
4. Udacity
Udacity was founded by Sebastian Thrun, David Stavens, and Mike Sokolsky in 2011 as an e-learning platform but went on to integrate blockchain technology in 2020.
This Blockchain-based learning platform offers nanodegrees and micro-credentials to its students. It also utilizes blockchain for secure and transparent credentialing.
Today, Udacity has various partnerships with industry leaders like Google, Amazon, and Facebook making decentralized learning easy and very accessible.
5. Education Blockchain Consortium (EBC)
This blockchain-based platform was founded by a group of institutions and industry leaders in 2018.
It is popularly known to connect learners, educators, and employers, allowing them to have access to secure and transparent credentialing, skill verification, and career development.
Users of this platform include institutions like MIT, Stanford, and industry leaders like IBM and Microsoft.
6. Open Source University
Open Source University (OSU) is an online platform that offers free and open-source educational resources, courses, and degree programs. Here’s an overview:
It was founded in 2007 by Peer-to-Peer University (P2PU), a non-profit organization dedicated to creating open and accessible education.
This decentralized institution has also partnered with various institutions to offer recognized credits and certifications. However, you should know that OSU itself is not an accredited university.
Future Of Blockchain In Education
The future of blockchain in education is promising, with potential to transform various aspects of the educational sector.
As the technology continues to evolve, we can expect to see increased adoption and innovative applications in education.
Here are some potential developments:
- Widespread adoption
The increase of the implementation of blockchain-based solutions across educational institutions. This will lead to greater efficiency, security, and transparency in administrative processes, credentialing, and learning pathways.
- Interoperability standards
The establishment of standardized protocols for seamless data sharing and collaboration between institutions. This will enable secure and efficient transfer of student records, credits, and credentials.
- Artificial intelligence integration
By combining blockchain with AI, it will enhance personalized learning, thereby automate grading and feedback, and optimize educational resources. Thus, leading to more effective and adaptive learning experiences.
- Decentralized finance (DeFi) applications
Expansion of blockchain-based financial aid, scholarships, and tuition payment systems, enabling secure, transparent, and community-driven funding models for education.
- Virtual and augmented reality integration
Blockchain will secure and manage immersive learning experiences, ensuring intellectual property protection, secure content sharing, and transparent tracking of user interactions.
- Digital credentialing and badging
Mainstream recognition of blockchain-based credentials and skills badges. This helps learners to showcase verifiable achievements and employers to verify skills and qualifications.
- Enhanced security and privacy
The continued improvement of blockchain’s security features to protect sensitive educational data. Thus ensuring compliance with regulations, and safeguarding against cyber threats.
- New business models and revenue streams
The use of blockchain in education will foster the emergence of innovative, blockchain-based educational services and products. These services and products include pay-per-use learning resources, decentralized tutoring marketplaces, and tokenized incentives for learning.
- Global collaboration and partnerships
Blockchain will facilitate cooperation among institutions, industries, and governments worldwide. This will thereby enable joint research initiatives, collaborative degree programs, and cross-border credential recognition.
- Lifelong learning and professional development
Blockchain-based systems will support continuous skill acquisition and verification by students. It will enable workers to upskill and reskill their careers throughout their lifetime.
- Equitable access and inclusivity There will be expanded access to quality education and resources through blockchain-based initiatives. These initiatives include decentralized education platforms, tokenized incentives for learning, and secure digital identity verification.
Conclusion
The traditional education system is broken, but blockchain technology is fixing it, one block at a time.
By harnessing the power of blockchain, the educational sector will experience more transformation with secure, transparent, and tamper-proof records for academic achievements & credentials.
This will make the sector even more credible, efficient, and student-centric.
