Blockchain technology has been the buzz word for a few years now, and you’ve surely come across fiery conversations around Bitcoin, at the very least.
But if you doubt that academic life is tightly intertwined with blockchain technology, you’ve clearly missed current developments. Blockchain is increasingly used in research settings in myriad innovative ways, be it for enhanced record keeping, better and faster research, or seamless, streamlined processes.
Forward-looking universities have been adopting brand-new blockchain technologies to skyrocket efficiency and improve learning. We take a look at the most ambitious ways in which blockchain technology can contribute to the university of the future to ensure you stay on top of educational trends. Let’s dive right in!
Record Keeping Benefits
With our busy schedules and an inordinate amount of daily tasks, time seems to flow at light speed, and spending it meaningfully is all the more important. A rare university will tolerate lengthy record-keeping processes in the future. Already, universities are adopting cutting-edge blockchain technologies to automate the record-keeping of degrees, diplomas, and certificates without ever asking people to spend their precious hours on similar monotonous tasks. After all, no one can argue that it’s better to direct our minds toward more valuable tasks and automate the rest!
More and more, modern technology makes it possible to order important information instantly and seamlessly. Consider the internet, where you can quickly find the top experts to assist you in creating outstanding college essays by simply typing, ‘can someone write my dissertation?’ Like this, every aspect of our daily lives is gradually becoming more efficient, and blockchain has played a significant role in this regard.
Fabricated credentials are rampant worldwide, and blockchain technology is by far the best tool for fighting these. If you’re a company that receives hundreds of applications for each vacancy, it’s extremely time-consuming to check all the existing credentials of your potential employees. Everyone knows this, and many take advantage of the situation. Alas, there are ways to counter this issue, and experts’ forecasts are extremely hopeful.
For one, blockchain has the power to change this. As an extremely secure and immutable record-keeping system, no one has the power to alter the information once it’s been recorded in the system. Integrating blockchain into university life is an important step toward ensuring transparency and better cooperation for all.
Enhanced Financial Management
The potential of blockchain technology to simplify and enhance financial procedures is enormous. This is demonstrated by how blockchain is now being used to manage financial aid programs more effectively and transparently, with the goal of enabling students to take advantage of all the wonderful opportunities available to them.
In 2017, Central New Mexico Community College was a pioneer in issuing student-owned digital diplomas- an important example of a university successfully integrating blockchain for the benefit of all. While blockchain still is in its infancy, more and more universities already accept diverse cryptocurrencies as an alternative payment method, including MIT and Georgia Institute of Technology. In the future, the number of universities employing blockchain technologies is expected to skyrocket.
Decentralized Learning Opportunities
Education is increasingly shifting away from the classroom and toward the web. Many students who lack the financial resources to attend traditional classrooms are presented with more and more opportunities to learn at a distance. Blockchain technology can be leveraged to create a decentralized educational environment, increasing access and transparency of education worldwide.
The blockchain will make it possible for colleges of the next century to create a robust educational ecosystem as opposed to a top-down command that still characterizes many institutions today. The idea of using blockchain transform education is to provide students with one-of-a-kind educational resources online, the flexibility to customize their learning paths, and seamless access to the assistance of professors.
The Way Forward
Blockchain is no longer a mysterious technology. While many still think about it in terms of cryptocurrencies only, its benefits extend into a whole lot of other spheres, including education. If used to its utmost benefit, blockchain can help universities run more efficiently while increasing access to education and streamlining many important processes. More and more colleges are using blockchain technology to create new, more accessible avenues for learning and upending the current dynamic between colleges and students.