How Blockchain Technology can be implemented in Educational Institutions?

Blockchain revolution is in full swing and over the course of time period, the searches for this keyword has increased by 250%. Top MNCs are discussing about it and calling meetings to add blockchain to their company but what this hype is all about and how blockchain will benefit the business?

This begs a question, what is blockchain?

The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value. The blockchain database isn’t stored in any single location, meaning the records it keeps are truly public and easily verifiable. No centralized version of this information exists for a hacker to corrupt. Hosted by millions of computers simultaneously, its data is accessible to anyone on the internet.

Shared Documents Analogy in Blockchain!

As per William Mougayar, Venture advisor, 4x entrepreneur, marketer, strategist and blockchain specialist, “The traditional way of sharing documents with collaboration is to send a Microsoft Word document to another recipient, and ask them to make revisions to it. The problem with that scenario is that you need to wait until receiving a return copy before you can see or make other changes because you are locked out of editing it until the other person is done with it. That’s how databases work today. Two owners can’t be messing with the same record at once. It is like a shared ledger, but it is a shared document. The distributed part comes into play when sharing involves a number of people.

Imagine the number of legal documents that should be used that way. Instead of passing them to each other, losing track of versions, and not being in sync with the other version, why can’t all business documents become shared instead of transferred back and forth? So many types of legal contracts would be ideal for that kind of workflow. You don’t need a blockchain to share documents, but the shared documents analogy is a powerful one.”

Blockchain Technology in Education!

The concept certainly sounds interesting and it has an important role to play in Education sector also. Schools, colleges and universities with multiple branches across the nation and worldwide have to manage a lot of things to run the institution smoothly. Below are discussed few features of blockchain that will help in maintaining the standard of institution.

Safe Information: Being a larger institution, managing everything while making sure things are going perfect is not an easy task. Implementing blockchain technology will help in passing information with utmost safety and security. It makes the saving, sharing, and authenticity of the official documents and certificates easy and in compliance with privacy concerns. Implementing blockchain at the institution will ensure student’s safety.  

Authentic Certificates: Before applying to any competitive examination or for further courses, attesting the certificates is a mandatory thing. But the implementation of blockchain has made certificates more secure and further no attestation is required.

Easy Work: The implementation of blockchain has eases the burden of administration who don’t have to worry about the safety of documents and it capably eliminates the expenses, and need of any middlemen to complete the process.

Deploying the latest technologies help institutions to remain updated and offer updated features/services to the parents.