A blockchain refers to a type of permanent public ledger. Its primary use includes the authentication and storing of information concerning transactions. A blockchain prioritizes security, validation, and trustworthiness between the exchange of data within digital spaces. Its functionality can be summarized by events occurring within a decentralized network that is disrupted, immediately signifying tampering (Pelletier, 2018). Though it was initially restricted to being utilized in cryptocurrency, its going advancements have made blockchain implementable within banks, hospitals, and even education.
Colleges and universities utilize blockchain technology in order to authenticate educational credentials as well as academic records. The nature of the blockchain eliminates the opportunity for individuals to forge or misrepresent credentials or any other vital documents. Additionally, the blockchain allows students to use a platform that can store all their academic achievements. This is especially important in the modern day, where online education is common, and students may receive a variety of degrees from different institutions. Certain organizations have already implemented blockchain to provide students either with databases or digital certificates upon graduation (Srivastava et al., 2019). These are easily accessible through computers or smartphones and remain free of any physical degradation that is common to paper diplomas.
Outside of the previously mentioned applications of blockchain, there are a number of other ways in which it can be utilized within an academic setting. For instance, financial transactions are becoming diverse, with many universities accepting Bitcoin for tuition payment. Research continues to be prevalent, with many universities prioritizing the transparency and potential to safely share intellectual property through the blockchain (Chen et al., 2018). As such, the blockchain is likely to eliminate a number of technical difficulties currently present within academic settings as it becomes more frequently implemented among universities and colleges.
References
Chen, G., Xu, B., Lu, M. & Chen, N. (2018). Exploring blockchain technology and its potential applications for education. Smart Learning Environments, 5(1). Web.
Srivastava, G., Dhar, S., Dwivedi, A. D. & Crichigno, J. (2019). Blockchain education. 2019 IEEE Canadian Conference of Electrical and Computer Engineering (CCECE), 1-5. Web.
Pelletier, S. (2018). Blockchain in higher education. The Chronicle of Higher Education. Web.