More and more universities are beginning to acknowledge the potential power blockchain has in changing the way we think about education and the education industry. In recent weeks, a wave of academic institutions across the world have opted to issue graduation certificates on this still largely unexplored technology. Students and educators alike are finding themselves curious about the pros and cons of this new trend.
That’s where this article comes in. Here, we will discuss the advantages and disadvantages of embracing blockchain for reporting and storing academic credentials. These universities have made a bold step and one that will surely have a ripple effect through the industry for a long time to come. Being aware of these implications now is essential for understanding how we can move forward to build better and stronger education sectors worldwide.
Blockchain and the Education Industry
Many immediately associate blockchain technology with bitcoin, and while it’s true, bitcoin utilizes blockchain technology—it’s far from the only thing blockchain can do. By providing consensus in a decentralized network, the immutable blockchain ledger can store and transfer anything of value in a highly secure manner.
This means that blockchain can store personal data, including certificates, licenses, and records, while cutting down on the costs associated with server and storage space. When we think of this in terms of education, it opens up possibilities for how universities manage student data, payments, certificates, and qualifications, as well as the potential to change internal library systems and the way we share and exchange knowledge.
Students learning how to write an exemplification essay on this topic will no doubt be faced with many severe questions and considerations given that the technology is exceedingly new.