In the past few years, blockchain technology has managed to transform several industries with its unique features of transparency, immutability, and security. CEO of Hashcash Consultants, Mr. Raj Chowdhury proclaims the innovation behind crypto has only been limited to the financial sector, whereas the power of the technology can well transform various industries including the present education system.
Blockchain Can Transform The Education Sector
Along with various industries, the education institutions too faced the wrath of the worldwide Covid-19 pandemic and reduced their capability of delivering lessons and knowledge to the students. While lockdowns forced educational institutions to conduct their classes on online platforms, educators and students both confessed to the constraints of digital education. Some of the challenges include infrastructure issues, the need for proper gadgets, internet access issues, digital literacy, lack of technical knowledge, lack of face-to-face interaction, lack of tools for specially-abled children, and lack of proper student record documentation.
Prominent blockchain pioneer and CEO of HashCash Consultants, Mr. Raj Chowdhury focuses on the advantages of integrating blockchain in the education sector stating, “Decentralized blockchain built upon a P2P distributed network architecture facilitates documentation of student records on a global scale. The technology reinforces digital education transcripts with higher security, resilience, and flexibility.”
Blockchain has huge potential in the education sector and can be an added advantage for both educators, and students as it ensures visibility, and data integrity. The technology also helps to cut down the budget to a prominent amount and removes the need for verification, storage, or rule printing. Blockchain-integrated smart contracts can be assigned to transfer academic documents, institutes can issue certification on course completion, and enable online learning strategies.
Mr. Chowdhury has previously contended his support for blockchain practice in patent claims, and the need for blockchain analytics. He concluded that “The core tenets of blockchain uphold a system that offers optimized cost-cutting while eliminating bias or intermediaries. It is thus logical that the technology will be a game-changer for the entire education sector”.
The blockchain industry has seen immense growth in the past few years. The global sectors have ultimately recognized the true potential of the technology in improving the prevailing industries with its innovative solutions. Various industries are currently enduring a transformation towards a better future by enforcing the benefits of the technology into their existing strategies.