Is the Education Industry Ready to Embrace Blockchain Technology – 2022 Guide

In this modern era of technology, we witness the influence of technology on each area, including the education system. Everything has digitalized to ensure the credibility of the source. Let’s take a look at the impact of technology on the education sector.

Impact of Technology on Education

The education system has undergone an incredible change over these two decades. Institutions have introduced to modern techniques of teaching. Classrooms have digitalized, and instructors have trained to follow the latest teaching resources efficiently.

With this new emerging education system, students have equipped to learn almost on their own without being dependent on instructors or any specific teaching materials. Smart classrooms, online tutorials of distance mode education are the remarkable outcomes of technology.

Blockchain Technology

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  • These days, you witness various emerging technologies of blockchain technology. Blockchain is an online trustworthy and transparent system which stores information in distributed form.
  • This topic has gained popularity since 2009. It stores confidential information without allowing the risk of fraudulent activities, making it an incredible source of storing and managing data.
  • Blockchain initially used to register the transactions of Bitcoin crypto-currency. The main objective of this technology is to avoid the involvement of the third party.
  • For Example, if you want to apply for your higher education, you need to contact the management of the institution, go through the paperwork of the admission procedure, payment of the unspecified amount fee structure.

There is no guarantee that the person you are relying on is trustworthy, and there are chances of fraudulent activities. Your personal information can be misused, you will not have access to your academic data, and your admission process could deny.

At this point, blockchain technology emerges as the solution for these insecurities by offering transparent and incredible data management and storage system.

  • It is the interrelated blockchain which stores any specific data in the form of encrypted codes, making it reliable and secured.
  •  Whether you send or receive any transaction, it keeps it transparent and super-secured. If someone thinks of hacking this system, one needs to hack the entire chain of blocks, which has secured with embedded information of each specific block.

Impact of Block-Chain technology on Various Sectors

  • Block-Chain technology implemented in various sectors including banking, Industries, health care, various government policies, Environmental projects, agriculture, real estate, e-commerce, insurance, private transport ride-sharing, cloud technologies as well as election commission.
  • A ledger stores the specific data which may or may not be accurate and secure. In contrast, blockchain technology offers a secured unbreakable chain of the block system, making it transparent and timesaving option.
  • The growing popularity of this technology can make it an integral part of the Education system.
  • Is the Education industry ready to embrace the blockchain technology?
  • Before knowing the answer to this question, let’s take a look at the current educational system, Education industries, globalization, its drawbacks and solutions.

Current Education System

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  • Education plays an essential role in the progress of a nation in achieving the desired economic development. Its success could get measured by the highest rate of literacy and modern educational access to the youth population.
  • Currently, where technology is emerging as the support system to achieve the best quality of educational objectives effectively, the most significant number of the youth population is deprived of their educational rights.
  • The right to education is discussed actively while addressing a group of the population who don’t even have access to their primary education.
  • Is there any guarantee that all these educational objectives have achieved on real grounds? There is still a large group of youngsters who can’t afford their primary school education in almost every state of some countries.
  • There is no proper implementation of maximum affordable educational programs. There is a considerable gap between government-based institutions and private institutions.
  • However, People get promised to provide quality education to everyone following the modern patterns of instruction and making it accessible to ordinary people. Still, real-time implementation is yet to achieve.
  • Lack of resources and unlimited fee structure plays a crucial role in the failure of student’s overall developments, giving rise to unemployment, poverty and illiteracy.

Education and Health

Education starts at home and continues to happen at school and society. According to a research Children of United States spend hardly maximum 1000 hours per year at the school. They have maximum exposure to informal learning opportunities.

Their knowledge is not confined to a classroom because they get trained to develop their knowledge and skills by participating in an experimental learning system. This approach aims to ensure proper formal and informal education from basic education at schools.

According to the research, there is a secure connection between education and public health. There is a need to use knowledge as a tool to overcome poverty. Public health community should take it seriously to implement the potential educational policies to solve this issue.

One of the empirical evidence of research supports the argument that education and public health are inter-related. Education is the complete package of the knowledge expertise, self-development, emotional and physical stability, communication skills including physical and mental health. The gap between low-income minority population and higher-income individuals needs to get filled by taking appropriate measures to promote public health.

Education, Employment and Globalization

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Whether you are an employer or a student, you need to update your skills. If you are facing an economic crisis and the rise of unemployment everywhere, you have to take the necessary steps to have a secured career. In this scenario, a large number of students, including working groups, enrol themselves for higher education. These growing list of admissions turns out to be a more profitable event of the institutions.

Many institutions, including Schools, Colleges and Universities, have increased over the last few years. Globalization has increased the demand for skill enhancement of the employers. Many industries are investing in the educational sector to create courses, to target such students who are interested in enhancing their skills.

Online classes offer effortless learning experience at the most convenient time and place. Students are exposed to group discussions with their online group of students, participate in productive activities. They get an opportunity to practice and enhance their confidence and overall skills actively.

Role of the Education Industry

Today, the Educational organizations, including schools, colleges, universities, coaching centers are heading towards a tough competition in this superfast changing world. Traditional classrooms are being replaced with modern smart classrooms to meet the challenges of current trends.

These organizations provide training programs to use modern techniques effectively, to ensure the advanced learning experience of the students, and to provide individual access to modern education.

Investors consider the institutions with the highest enrollment records which provide maximum profit and growth of the industry. There is an increasing number of knowledge resources including, online study materials, audio and video lessons etc.

Impacts of Blockchain Technology on Education

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The way of educational provision and management is a continuously evolving process. Block-chain technology can work wonders in the field of education industry with the implementation of its tools.

Block-chain technology can offer the following advantages in the education sector.

1. No more paperwork

It is one of the essential advantages of this technology because it reduces paperwork making it easier to use the digital documents. It also reduces the risk of mismanaging of your important documents.

2. Cost-effective data management

Block-chain technology ensures the confidentiality of the applicant’s personal information making it accessible to the students.

The applicants have the right to share, control and save their personal information individually. It reduces the amount of time and money spent on managing the data by the instructions.

3. Improved Accounting Standards

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Maintaining better accounting standards is challenging in a world of conflicts. Block-chain technology enables Universities, schools, colleges and other institutions to maintain a standard accounting procedure, and follow a fair strategy of computing salary, funds, grants and scholarships.

4. Digital certifications and Credits

Several online institutions and Universities are offering digital certificates to the students on completion of their courses. A maximum number of students can receive their graduation certificates online without needing to rely on paper-based documents.

Online registration forms automatically register and verify the academic records of the students. Thousands of students are using this flexible platform independently in the form of distance learning courses provided by several open Universities. Students also receive their credits after completing the course and fulfilling the conditions of the smart-contract.

5. Transparent interaction

On-demand Education Marketplace enables students and instructors to connect, plan and decide the courses personally based on their specific timeframes and understandings. There won’t be the need of institution between them. You can see several examples of these private channels, classes or tutorials on YouTube.

6. Secured payment method

Blockchain technology offers secured payments through cryptocurrency and lifelong learning passports to the interested candidates.

 7. Evaluation process

Block-technology can improve the learning experience and performance of the students by providing the enhanced evaluation process, where students are assessed based on their skills, communication and their academic performance

Institutions Using Blockchain Technology

Source: inventa.com

Ministry of Education of Malaysia, University of Nicosia- Cyprus, Sony Global Education, Massachusetts Institute of Technology, King’s College for Everyone are using the blockchain technology.

Education for Everyone program enables the students, teachers and schools to access the e-learning through their mobile Internet from various locations, making it user-friendly

Challenges of Implementing Block-Chain Technology in Education

Numerous challenges need to be considered seriously before applying the blockchain technology in the Education sector.

1. Cybersecurity

Although blockchain technology provides security of transactions and data preservation, the risk of cyber-attacks cannot get eradicated.

It’s too difficult to ensure privacy and security together. It’s an essential point of concern where someone’s online certificates and credentials are at risk.

2. Data Leakage

Blockchain technology uses encrypted codes to ensure the privacy of the data. There is no guarantee of transactional security because of its transparent public proofs. Sufficient storage of details of multiple candidates is also a risk factor. There could be a possibility of data leakage which needs to get addressed seriously.

3. Blockchain scalability

Blockchain scalability is the major issue of concern. According to a few research articles, if the number of transactions increases in the blockchain method, the size of the block also increases ultimately. It may result in a low-speed transaction.

4. Data Management

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Managing and tracking the records lot of students is also the biggest challenge. It turns out to be very difficult to maintain the data of each student’s previous institutional records.

5. Verification Process

The procedure of verification could get delayed due to the increased block sizes, which enable approximately seven transactions per second. It may turn out to be an obstacle in adopting blockchain technology in the Education Department.

6. Highly Expensive

However, blockchain technology offers cost-effective outcomes, but the adoption of blockchain technology could be highly expensive. There would be a need for a massive amount of investment to implement this technology in the education system, including the transaction techniques of blockchain. As mentioned above, the cost of management increases with increased block sizes.

7. Profitable Business

Blockchain technology can also affect the economic growth of the Education industries. There is no guarantee that this technique promotes profitable business. All organizations need to share their data for certificate assurance which may not be possible as every institution may not agree on this level.

8. Legal Commodity Barriers

Another key factor is the absence of an explanation of legal commodity barriers. It could be possible that many industries may not agree to implement blockchain technology due to their businesses logic.

9. Requirements of the Institutions

Source: thedailyguardian.com

There is no clarification about the implementation of this technology as per the needs of each institution. The collaboration of public and private sector may initiate the implementation of the blockchain technology in the Education field.

10. Complex Terminology

Another key point blockchain technology is the restoration of multiple keys by the users, including primary, public and recovery keys. Therefore, further work needs to get done to make it user-friendly because it may be difficult for a student to understand and manage it effectively.

11. Immutable Storage System

Users manage their data which is restored by multiple security inspections making it unavailable for the sites which are dependent on the user’s information.

12. Difficult to Track and Change Previous Records or Policies

Inflexible data storage system of blockchain technology is difficult to modify because it requires everyone’s approval. It could be challenging to make changes in government policies or any previous records that need to be modified. It could also be challenging to track the unauthorized omissions due to this inflexible storage system of blockchain technology.

Future of Blockchain Technology

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The major area of blockchain future literature research could be the collaboration of different institutions. Many institutions have adopted this technology due to it’s a credible record of storing academic achievements of the students, including their certificate, skills and credentials. It may allow the student to take admissions into any of these collaborated institutions from various dispersed locations.

  1. It would be beneficial for the institutions to minimize the cost by sharing infrastructure, services and educational programs. On the other hand, students are accessible to maximum educational programs of multiple institutions.
  2. Blockchain technology can play a key role to offer job-based education system and training opportunities for the students according to the latest trends and requirements of recruitment.
  3. Educational institutions can update their teaching, training and development methodology as per the latest trends of the business world and needs. It will be easy for the recruitment process to select the students based on their skills, observing the blockchain.
  4. One of the most critical areas of future of blockchain research could be improving the quality online education system.
  5. Blockchain technology offers students and institutions to share their information. Students can judge the quality of the educational course based on the ratings shared by other students at the end of their course.

Bottom Line

These days, the evaluation system of the institution is handled manually from creating assessment papers to the grading system. It consumes a lot of time and cost, leading to unfairly declared results. A student has to rely on the results and details provided by the institutions which could be wrong or modified.

In this scenario, blockchain technology emerges as a solution to this kind of issues. This technique offers trustworthy and transparent information, transactions, certificates and credentials of the students, making it affordable to achieve the goals of educational objectives.

Although it has many advantages, the implementation of blockchain technology in the Education industry is challenging. So many points of concerns need to get addressed before the adoption of this technology in the Education field.

On the one hand, it makes education and management cost-effective. On the other hand, this increases the cost of adopting blockchain technology as an integral part of the educational institutions.

Resources:

https://www.forbes.com/sites/oracle/2019/01/02/5-ways-blockchain-is-revolutionizing-higher-education/

https://www.researchprospect.com/plagiarism-checker/ 

https://www.theguardian.com/commentisfree/2018/feb/23/blockchain-reshape-world-far-right-ahead-crypto-technology