One can’t deny that education is at the heart of development in every sector from innovation to the economy. Thus, the revision, improvement, and development of education will uplift every sector as a whole. As a result, related parties are looking to optimize new technologies to help enhance education. Previously, we talked about Deep Tech and digitizing education. Today, we will look into education development with Blockchain, a technology which has become a buzz. What is it all about? Let’s find out.
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Blockchain and financial management in education
In fact, financial matters in education are very important for universities, teachers, and students both in the regional and national sphere. The use of Blockchain, a trending tech with much movement in the financial sector, will help make financial matters more customized. This can also support student’s ever-changing learning behavior.
The concept of product and service in Blockchain can directly be applied to the education sector. Examples are applying cryptocurrency as a replacement for credits in course registrations or using Blockchain in procurement so that every department make use of every penny while teachers can receive fair compensation.
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A reference for skill learning beyond schools
Since knowledge isn’t only confined to schools or universities, other skill training shall also be used to confirm one’s abilities. However, documents which aren’t accredited by schools have credibility doubts, thus, some individuals with great skills waste precious time and miss the chance to identify their capabilities.
At present, a platform called OpenBadger is using the Blockchain to collect certificate data from over 3,000 training outlets around the world. This ranges from non-profit organizations, organizations with training courses, large organizations like IBM and Microsoft, to courses conducted by education institutions. Course participants can use the certificates stored on OpenBadger as the key to new professional opportunities.
Credible education certificates in the Blockchain
Speaking of a problem in education that mostly affects society, fake certificates may be top of mind as it has highly affected the economy and society. Education document fraud derives from the time for verification. The conventional verification process is rather slow because the process hasn’t been digitalized.
As a result, related parties are looking to apply the Blockchain which is known for its ability to verify with precision and speed. One of such attempts is the platform by Digital Ventures in collaboration with 7 universities and leading private sectors in Thailand. It is called B.VER.
B.VER is a platform that will store university student data which will solve the problem of delays, defects, and loopholes in the conventional document verification process by using Blockchain. The advantages of using Blockchain as a solution are as follow:
- Real-time access. Students who are owners of the certificates and data can always access the original document at all times. This differs from the traditional process wherein students can only inspect the certificate by requesting from the university’s registration office. This is inconvenient for graduates who have already moved further away from the university.
- Always updating academic records. Today, students and organizations use paper form academic records for job applications, especially for applications after internships. If students need to update their record, they will need to travel to the university’s registration office to issue a new document. This problem can be solved by digitizing education certificates on Blockchain. Then, academic institutions can update the student’s academic records immediately after the end of the semester. Afterward, students can authorize companies so they can promptly view the new data.
- Less burden for related parties. Today, numerous steps and related parties are involved when using academic documents for job applications. This begins at the moment the certificate is submitted. The HR department needs to submit the certificate for verification to the university. Once the university receives the request, the registration office will need to recheck the information with their data bank of over ten thousand student names and records. Also, they would need to recheck in detail for each specific subject and grade. The process is very time-consuming. Therefore, if the certificate and academic records are digitized on a platform that can show credible data, the workload is lifted and complex processes are shortened, thus, lessening the risk for fraud.
- Credibility with decentralization. A reason why Blockchain is outstanding among other digital platform is its credibility. Aside from superior encryption, it also requires a credible verification process via decentralization. If a forgery occurs in the system, the fake document will not match the data that everyone in the system has on hand. Thus, the fake document will simply lose its credibility making the remaining data that has already been verified the only credible original.
- Safe and sound. Academic records normally have important information such as student ID, birth date, and other information which is used for identity verification. Sending and storing the document in paper form will highly risk the leakage of personal information. Therefore, if we can migrate the data to the Blockchain which has encryption and can only be accessed under the permission of the owner, this will surely eliminate such problems.
It can be observed that the many attributes of Blockchain can be applied as a solution for education development. In the future, if this technology involves new players and developers, it will surely open doors to education in the digital era. Digital Ventures won’t miss the chance to share more updates regarding technology that affect lives.