Can Blockchain Technology take the Education System?


Blockchain, the technology which became so popular for its high cybersecurity capabilities. Actually, Blockchain is a type of network that the bitcoin uses. By knowing its importance many industries like supply chain, healthcare, CRM started to utilize this technology to improve their industries. In addition to that, the Education field is also using blockchain technology.

The market of education in the blockchain is improving higher than expected and is estimated to reach $93.76 billion globally by 2020. Education is considered to be the backbone of every industry we all know this is the fundamentals of every industry like medicine, agriculture, science, and almost all kinds of industries.

Challenges in Educational Sector:

1. In this transformed digital world, education becomes unavoidable, as a result, billions and billions of students are undertaking education in various institutes every year. is the greatest task of maintaining records of those student’s details in paper documents.

2. Obviously, all those records will be in paper formats so there is a high possibility for record missing. As a result, it becomes a complex task to get back the details of students who studied 4–5 years back.

3. Maintaining the certificates of students in a secured manner becomes difficult and requires manpower.

4. The Head spinning part of education os accounting, which requires time and people to calculate and maintain the finance of an institute. This involves the calculation of employee/ staff salary, student fees, maintenance and operational costs of that institute.

Blockchain in Education:

As everything is getting smarter and digitalized, its also a time to make the education system smarter and digital. This, in turn, increased the institutes and universities that provide online courses, digital certificates, etc.

The use of blockchain in education has paved a way for the acceptance of cryptocurrencies as payments/fees for courses in many institutes. This may result in an easier and transparent way for both students as well as the institutes.

Benefits of Using Blockchain in Education

1. Replaces the paper documents
2. Prevails to be a saving mechanism
3. Data Transparency
4. Financing and Accounting made easy
5. Digital Certificated a better way

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