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.
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