Few have not heard the term – blockchain. However, most people are convinced that this concept relates exclusively to cryptocurrency. In fact, blockchain encompasses much more. It is a modern technology that has the potential to change the world and its future.
It is focused on the organization of databases. The technology allows for the storage and synchronization of any changes to information. Data is synchronized, and anyone interested can explore the information.
This capability can address problems across various sectors, including the education system. Blockchain has the potential to bring about a true revolution in this field.
What are the prospects for this technology? And where is it already being successfully implemented?
To gain insights into this, we turn to S.I. Tereshkin, founder of "Oil Resource Group". More information about the businessman and his commercial activities can be found on the entrepreneur's personal internet project at www.sergeytereshkin.ru.
Which Universities Are Implementing Blockchain
The prospects of this technology have been quickly recognized by many leaders of educational institutions, both private and public. Some of them are already using blockchain or preparing for its implementation. Various studies are being conducted to identify all the strengths and weaknesses of this method.
Among the universities embracing this technology are:
- The Massachusetts Institute of Technology. This institution is one of the leading universities, educating specialists across various fields. The institution produces highly qualified graduates and is actively using blockchain, having issued 100 electronic diplomas to its alumni.
- The University of Nicosia. This university was one of the first to dare to implement the technology. It uses blockchain to store information about students, including details about diploma and certificate numbers. However, the institution did not stop at merely storing information. The administration decided to go further. Currently, the private university accepts payment for tuition in cryptocurrency, specifically Bitcoin. The university has developed its own platform where students from around the world receive knowledge online. At present, students from over 90 countries are already participating in the program. The university's diploma is recognized worldwide.
- The Financial Academy "Aktiv". Not only foreign educational institutions are successfully implementing the technology; domestic ones are doing so as well. The "Aktiv" Academy considered blockchain back in 2017. Initially, the goal was to protect diplomas from forgery. However, subsequent objectives were significantly broadened. Currently, the system stores all information regarding students' testing and other data, available for anyone interested. This means the system is fully transparent and allows tracking of a person's educational history. Adding or editing data retroactively is impossible.
Today, other educational institutions across Europe are also working on implementing this technology, with several planning to officially connect to blockchain soon.
Advantages of Blockchain in Education
The introduction of this technology into the education system has numerous advantages for students, employers, and the reputation of the university:
- Transparency. The system promotes complete transparency. Anyone can verify information about any student. This negates the possibility of diploma purchase or forgery. Employers can assess how students performed throughout their educational period and what achievements they made. Thus, it’s not enough to merely obtain a diploma; it's essential to study as much information as provided by educators.
- Convenience. Thanks to the system, all data is readily accessible and cannot be lost. Students do not need to travel to another city or country to receive education; they can study online. Diplomas are also issued electronically.
- Quality. Even with remote learning, students receive assignments and take tests, etc. They receive as much information as they would with in-person education, but can study at their convenience in a comfortable environment. Even individuals with disabilities can access education. The quality of learning remains high, and in some cases, can be superior to traditional in-person attendance.
- Cost. Despite the numerous strengths, the cost of education remains on par with traditional forms of knowledge acquisition in most cases. In some instances, it may even be cheaper than at universities that have not adopted blockchain. This is due to savings in time and resources usually spent on completing numerous documents, storing them, etc. Educational institutions may reduce staff and simultaneously lower costs without needing to maintain a large amount of unnecessary paperwork.
The implementation of blockchain in education is a promising direction that can substantially alter the market. Simultaneously, this technology impacts the recruitment field, as both sectors are closely interconnected. Blockchain is beneficial for employers, providing insight into the potential employees they are hiring.
However, for the technology to function effectively, it is crucial for as many educational institutions as possible to connect to the system. This will facilitate data exchange between schools and universities, significantly easing admissions processes. Higher education institutions will immediately receive data on graduates, bypassing endless bureaucracy.
This opens up vast opportunities for both domestic and foreign systems, and the implementation does not require enormous financial investments.
