In all of the world’s developed countries, the field of education is a central focus. This is due to the fact that the future of other important areas, including science, medicine, agriculture, industry and almost all others, is dependent on the country’s education levels.
Replacing the Paper
Nowadays, the field of education is in need of central authorities to focus on checking certificates. Every day, educational institutions have to process thousands of requests from different educational organizations for sending copies of documents. They want to make sure the person has, in fact, graduated from a certain university.
For saving purpose
The cost of paper and printing itself is not the only item of expenditure related to documents received upon completing an education. Major institutions and schools spend enormous amounts on storing this information.
The loss and damage of documents in education is quite a common basis for litigation, which results in financial costs and wasted time. This negative aspect can also be eliminated with the introduction of blockchain technology.
Rewarding the students
Specific skill assertions can be verified and communicated with a digital badge. Multiple badges can be assembled into an open badge passport that students can share with prospective employers. Indorse is using blockchain to verify e-portfolios. Users upload claims with a link to verification and other users verify that claim.
As schools add more security cameras and sensors, they need to protect their networks from hackers. Companies like Cage are using blockchain’s tamper-proof ledgers to sharing security data across device networks.
With the proliferation of learning apps and services, identity management is a big problem in education. Platforms like Block stack and uporthelp users carry their identity with around the internet. On Block stack, users will access apps on decentralized networks and have data portability.
For educational institutions with renewable energy sources, DLT could reduce the need for intermediaries. Brooklyn start-up transactive grid enables decentralized energy generation schemes allowing entities to generate, buy, and sell energy to their neighbors.
DLT can be used to automatically execute agreements once a set of specified conditions are met. These smart contracts have the potential to reduce paperwork in many sectors including education.
Conducting background checks and verifying employment histories can be time-consuming, highly manual tasks for HR professionals. If employment and criminal records were stored in DLT, HR professionals could streamline the vetting process and move hiring processes forward more quickly.
Blockchain could help streamline public assistance system for families and students. The UK began working with start-upGovCoin Systems in 2016 to conduct trials for developing a blockchain-based solution for welfare payments. GovCoin divides the money into separate stashes for different expenses. Recipients gain access to their benefits which are paid in cryptocurrency via a mobile app.
The world bank is using blockchain to sell a bond. Moving the process to the blockchain could cut costs and speed up trading for both bond issuers and investors. School districts could benefit from faster and cheaper bond sales.