Blockchain is a revolutionary technology that is about to completely transform the global economy. The blockchain technology is a peer-to-peer distributed ledger that generates a chain of data by encrypting and storing data on subsequent blocks that link to the earlier blocks in chronological sequence. Blockchain technology is designed to store data about agreements between parties, transactions, and other digital entities. Records can be distributed on the blockchain in a very secure manner, and any fraudulent activity can be swiftly detected and stopped. Adopting blockchain technology can have significant benefits for every industry, including real-time payment options, the ability to eliminate manual processes, reduced costs for data administration, and a decentralised, immutable nature that helps secure sensitive information.
In this article we’ll discuss on the challenges of blockchain in education as well as how blockchain can overcome such challenge
The difficulties in implementing blockchain in education
Even though blockchain has enormous advantages for the education sector, many colleges and universities are still hesitant to use it. The difficulties in using the technology, such as adoption rate, security, scalability, and cost, may be the cause of this lack of enthusiasm in using blockchain.
1.rate of adoption: People continue to put off adopting new technologies due to their fear of the unknowable, yet blockchain offers great opportunities to educational institutions and is likely to revolutionise the current system of traditional education.
2.Security :Although blockchain’s security aspect is its distinguishing trait, that doesn’t mean it is impervious to threats. More stringent security measures, such as the use of permissioned networks or the encryption of data on blockchain, may be required for educational institutions.
3.Scalability: Blockchain offers numerous advantages to educational institutions because it enables them to store a wealth of data, including that of students and alumni, advancing the sector. However, it should be noted that as more data is stored on the blockchain, more blocks must be created, necessitating additional investments.
4.Cost: Even though integrating blockchain will ultimately save money, doing so demands initial expenditure. It may be costly to make adjustments to the current infrastructure and increase processing power in order to implement new technology. To properly operate with the new infrastructure, the workforce will also probably need blockchain training.
How blockchain can overcome education industry challenges
The barriers that have been holding back the education sector for years can be addressed via blockchain.
1.Improved and open record-keeping: Student records might be established once and made available to all educational institutions as well as businesses thanks to the immutability of blockchain. Every task, assignment, and extracurricular activity is added to the student’s digital record, which is displayed in blocks. This gives everyone involved in the educational process a bird’s eye perspective of the students’ records. In addition, blockchain can help schools, colleges, and universities get accredited. It can also help stop diploma fraud.
2.tracking of academic performance and personalization: The transparency of data storage on blockchains gives teachers a wealth of tools to keep an eye on students’ progress. Academic programmes could be tailored using smart contracts to find out where a student is having trouble. The district has access to student performance data, which is used to enhance the entire educational process. This approach might compile data on every student’s performance within a district or even nationally to foster healthy rivalry between schools, colleges and universities and raise the standard of education.
3.presenting educational accomplishment portfolios to students: Blockchain technology enables students to build their own digital portfolios that detail all of their academic accomplishments, including degrees, certificates, attendance, and other educationally-related accolades. They can submit it to institutions to demonstrate their qualifications for admission or send it to a company to be considered as a candidate. The creation of a global database of possible candidates with the ability to select the best candidates would encourage students to perform better.
4.encouraging students and educators to get better achievements: Academic institutions can use bitcoin as a sort of performance-based compensation to encourage both students and teachers to make good progress. Students gain cryptocurrency for all academic endeavours, and they can use this reward to pay for school supplies, learning resources, or student loans. For their contributions to the educational process, teachers are rewarded
In conclusion, numerous global economic sectors have been disrupted as a result of the increased convergence of the actual world with virtual reality and augmented reality. Compared to conventional centralised databases, blockchains are a more recent technology that offers greater efficiency and storage capacity. The financial sector is already evolving as a result of cryptocurrency, blockchain, and metaverse projects. Thus, adding these into an academic curriculum would not only give children more chances, but it will also create a framework that is efficient, affordable, and conveniently serves all strata and provides more outreach for all students. making the process of learning enjoyable. In general, a blockchain development company can assist educational institutions in streamlining their operations, cutting expenses, and improving the quality of education with blockchain technology.