Blockchain Transforming Industries: Education
Blockchain has emerged from the shadows as a revolutionary technology that has proved itself in recent times as a big disruptor of industries across the globe. With the attributes of decentralization and transparency firmly forming its core, it goes to say without a doubt that Blockchain is truly an invention that is not only addressing several key issues that have been facing industries and businesses the world over, but it is becoming the kind of big change that once dawned upon us with the advent of the Internet.
The incorporation of the digitized public ledger of the Blockchain to existing systems and processes offers companies countless ways and means to make full use of the concepts of trust, accountability, transparency and immutability to not only adapt and reinvent their existing operations, but makes the end product more scalable on an open network whilst overcoming reliability and security issues.
In this special series of Blockchain Transforming Industries, we take a look at how this cutting edge technology is revolutionizing industry practices as well as functions and how implementing it can pave the way towards robust solutions.
Previously, we covered two very interesting and influential industries:
Music
Blockchain Transforming Industries:Music || Blockchain Transforming Industries:Music (Part 2)
Health-Care
Blockchain Transforming Industries:Health-Care || Blockchain Transforming Industries:Health-Care (Part 2)
Today we take a look at a very special as well as massive industry, which is arguably one that nurtures and shapes minds of millions of youths all over the world - Education. What impact can the inclusion of Blockchain bring to this multi-billion dollar industry?
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Blockchain in Education
The education industry has seen a massive transformation over the years - from the usage of hard copy textbooks and learning materials to the adoption of e-learning modules and digitization of course discourse, the transition has been impactful. The global education industry, which is valued at 7 trillion dollars, has been touched by the internet in a great way over the past few years with many institutes starting to focus on online instead of offline resources.
Blockchain could be the next step in transforming this industry and addressing the various issues and bottlenecks that plague it from disseminating education to the masses.
Education is essentially concerned with data mining in the form of courses and educational content and its global distribution. Not only does the education sector produce a massive amount of data, but there is a growing demand for the same. The inclusion of Blockchain's public ledger paves a way to handle the multitude of data and at the same time securing and scaling up its accessibility.
What Are The Challenges And How Can They Be Addressed?
Education can mostly be a costly affair, which is not easily affordable to certain strata of society. Additionally, the education industry is certainly not free from corruption - with the funding from government being inadequate or in most cases misused. The need of the hour is an open system of education, with clear transparency in grading, fund allocation and the focus shifting to all type of courses, vocational and extra-curricular included.
And getting a proper education is just one aspect of the coin; once an individual completes the course, the person should be employable. Education should impart a mindset to people that is entrepreneurial, which will allow them to be world ready and suitable for working in the diverse industries across geographic regions.
Not to forget the lecturers and professors that impart the course, they not only need to be qualified but should be appropriately incentivized. Many teachers are not only inadeaquately paid, there seems to be a rising want for suitable competency and skills in teachers. The age and maturity of teachers does not necessarily correlate with their skill-sets and competencies which can led to deterioration in the quality of education that is being imparted, negatively affecting several impressionable young minds.
The inclusion of Blockchain could truly create an open, traceable, standardized and transparent system in education that provides a means for easier accessibility without the need for resorting to increasing the number of physical schools and training centers. An online network can be created that is both collaborative and decentralized.
There are so many potential benefits that can be had:
A system can be created that does not differentiate between individuals and sections of society and creates an inclusive system of education that is open for all. This does not only take education far and wide as a means for people to bring a change in their lives, but also helps overcome the alarming problem of discrimination that can be clearly seen existing today.
The need to be physically present in classrooms can be eradicated with the possibilities of education reachable to individuals across geographies. This will allow to divert the funds allocated for building physical locations to more deserving areas of education.
Transparent allocation and use of funding to eliminate corrupt practices, and immutable digitized records of transactions and certificates to help audits and compliance, will ensure an unbiased and reliable system of education.
Decentralization of recruitment and training, as well as an incentive structure that encourages the growth and up-skill of educators will create a healthy environment of growth and progress.
And so much more...
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The future could see a collaborative environment of education that is interconnected across the globe and peers from different countries can interact with each other and get access to the best instructors, courses and content with the option to choose their own learning and self pace it in a manner that benefits both educators and students.
It is right to assume that entities with questionable vested interests in the education sector would be against a transparent system and oppose it, but the very fact that Blockchain could be used for the right purposes adds weight for its adoption. It can eliminate the possibility of frauds, eliminate the need to be dependent on paper based systems, automate a bevy of processes without the need for manual intervention and digitize records easily accessible to all stakeholders including educators, students and authorities.
To conclude, the adoption of Blockchain technology can vastly improve the present scenario in an ever growing Education business. Transforming and gaining adoption in such a vast and diverse industry cannot be done overnight, and there shall certainly be several challenges that would need to be addressed and overcome. But with various scenarios and use-cases being implemented by reputable institutions and educational boards across the globe, it is only a matter of time before we see widespread usage.
Each and every industry needs to keep themselves updated and up-to-speed with the latest developments and technologies at the risk of becoming outdated. Blockchain based transactions will allow the Education industry to imbibe a system that is transparent and fosters authenticity and innovation, which will assure growth and advancement of the industry as a whole.
The myriad possibilities that Blockchain opens up in different sectors across the globe is astounding. What are your thoughts?
Tune in to our next blog as we continue to showcase Blockchain tech transforming and benefiting the various industries.
Authored by: @jznsamuel
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Thank you!
Really beautiful write up. You pointed it out all. I agree with you that it will improve education standard.
Traditionally institutions have been a source of trust: universities, for example, are trusted “brands”. In finance, where blockchain is nowadays a ubiquitous hot topic, banks exist to enact transactions, creating an environment in which blockchain’s advantages are readily obvious.
In education, however, there needs to be trust beyond the technology. We are looking, I think, at a hybrid model rather than a wholesale blockchain takeover. Reputation will still matter, and this will continue to be derived from the quality of the instruction, teachers, research, and so on. However, blockchain can play a role here, too, as one could imagine a sort of web of teachers and learners that deploys blockchain to cut out institutions. This, in my view, is not impossible, but it is unlikely.
It must also be recgnized and conceded that blockchain is not without its problems. There are data-regulation issues, and a cloud has been created over the technology by the fact that one of the exchanges in the Bitcoin system.
Yet the biggest obstacle to blockchain’s more widespread use is cultural. Education is a slow learner and a very slow adopter. Despite its obvious advantages, the learning world is likely to be slow in implementing this technology, as most of the funding and culture is centred around the individual institution. Thanks @velimir for the invite. Its a great time i am having here.
A hybrid model sounds apt for the situation. Only time will tell what is the best solution, yet this is indeed the future!
Great post, check out my blogs on the Blockchain when you get a chance
https://steemit.com/dlive/@maykocan/an-interesting-comment-but-it-is-more-profitable-to-start-a-new-day-every-day
BLOCKCHAIN carries many advantages, many opportunities in different industries. The only thing that worries the government, is, unfortunately, not the good of the blockchain. And the fact that many members of society have an income that is not taxed. So in my country has taken many moves from the government to still have authority in this thread. Now talking about some of the certificates for the blockchain. The government proposes to make mandatory the registration of the blockchain in a special authority. And all those who do not, will be considered outside the law. They are trying to ignore and devalue the benefit and advantages of the blockchain, paying attention to the possible disadvantages and dangers. I hear in the media constant talks about the fact that crypto is a pyramid or bubble. Agitation of the population against participating in it. So how can we supposedly lose money. As if banks don't steal our money in the loans under 80% per annum. Sometimes these statements the authorities look ridiculous and absurd. And I believe in the welfare and benefits of the blockchain.Including in education.
You've hit the nail right on its head, the fact that citizens were being harassed and looted, and were suffering didn't bother the government but now seeing them prosper by the usage and prospects of blockchain is hurting them. The adoption of cryptos is very less now, once more people come in, it will change the society as we know it.
Interesting read
Interesting read but we need to accept the fact that not all problems will find its solution on the blockchain. Education for instance is a very tricky industry as it is subjective, firstly identifying the right type of education, people knowledgeable to deliver it are some of the challenges that comes to mind.
Adoption of these methodology by other mainstream education institutions is another challenge, there has to be significant incentives for a professor in a top university for example to start delivering lectures through a blockchain backed education initiative.
It's so awesome Blockchain reached for so many industries.
Definitely a game-changing technology💿
This is very true and as an educator I agree with you. While not many studies have been conducted on blockchain and education, there are many private entities who have started this this. Very soon, we will see a revolution in the way we teach.
However, the way Blockchain can be implemented is fairly limited. A decentralized classroom can only be implemented if all the students are motivated. It does work for older students, but that may not be the case for younger students. We may see less teachers and less classrooms in the future, but we will definitely see more education coaches who will motivate these students towards learning.
I have talked about education and the blockchain here and I am also one of the contributors on one of the education projects on the blockchain.
What they are doing is very similar to what you have mentioned, do check them out!
Thank you for this nice post, I'm pretty happy about reading it.
It looks promising!
Surprised there is not an Education Coin already. Maybe there is and I missed it?
A great program that provides students and educators with training resources to develop market-ready skills. It aims to achieve a huge advancement in the filed of higher education by leveraging the Ethereum blockchain as a decentralized database so that academic and professional development credentials become transferable easier and verified faster, more reliable. The lack of such one decentralized platform is what I believe still keeps learning in silos, despite we are decades into the Digital Age ...
You took the words out of my mind!
Education needs an overhaul and blockchain can do it. Opening education opportunities to all and transcending class and boarders will transform this world into a much better place.
Many thumbs up!
Thanks, your feedback is appreciated!
Completely agreed! Except, don't you feel that eliminating the need to be physically present in the classroom would have an adverse effect on the social skills of students? I mean the classroom environment plays a vital role in the growth of an individual.
We could have interim solution where class meetups or outings could be organised. The need of a physical classroom can be avoided and the relevant funds can be diverted elsewhere.
he follow and upvote I follow and upvote back
What I was thinking is instead of classrooms being learning platforms, they should be implementation platforms. Students learn what interests them and come together to implement their learning. this way they'll learn to collaborate and work in a social structure much better, whilst learning at their own pace.
A project called NTOK is a virtual training program. It is a system that brings together teachers and students.
Teachers will be based on the Ethereum smart contract for assessment and review systems for video tutorials and educational content. Students can only evaluate the teacher after paying tuition. Video tutorials and training content will be evaluated after payment (for paid content). Ratings will be based on block bridge based reviews and are not likely to be replaced or replaced. Blockchain is the online platform for facilitating learning, especially for foreign languages, through a peer-to-peer technology platform that connects the platform's intended teachers and students online.
Sounds interesting
interesting. but I think they will be successful.
The education systems are i such dissaray. My first thought is that people will learn individualy the way each individual needs to be taught. What works for one does not work for all. Individual advancement is very expensive now. Blockchain can revolutionize education. I think it’s only a matter of time. Great read! Thank very much
Individual growth can lead to collaborative growth. Great point and glad you enjoyed the read.
he follow and upvote I follow and upvote back
As an online teacher I believe the technology of the blockchain and its ability to deliver content to students will be amazing. Although I predict one of the biggest benefits will be for homeschooling families, the possibilities could be huge! What do you think of this aspect?
The possibilities are limitless, it shall certainly have an impact on all kinds of education.
The nature of academic identity information must be universally recognized and verifiable. In both primary and secondary and university settings, verifying academic credentials remains a largely manual process.
In education, block-chain solutions can implement validation procedures. For example; Sony Global Education, in partnership with IBM, has developed a new training platform that uses block chaining to secure and share student records; Learning Machine collaborated to launch Blockcerts with MIT Media Lab, a 10-year software startup.
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I found your post very interesting and agree on most of your points.
Thank you for a great post.
Marco Iansiti and Karim R. Lahkani published an article in the Jan-Feb 2017 issue of Harvard Business Review called “The Truth About Blockchain,” offering their opinion on this emerging technology and the huge amount of hype that has surrounded it.
Their thesis is that new technologies find homes across a range of applications, from simple “Single Use” functions where the technology makes an existing process more efficient to complex “Transformation” functions that dramatically change industry structures.
Single Use applications are the most straightforward ways for new technologies to become adopted. Users, familiar with existing processes, see the new technology as an enhancement that provides a clear benefit at low or no cost. Often, they will turn to an existing supplier or internal department and expect that they will simply see a reduction in cost, greater efficiency, or higher performance or capacity that comes from adopting the new technology. Examples abound in many industries and consumer applications — acetaminophen cured the same headaches as aspirin with a similar dose and frequency but without stomach upset complications. Bitcoin futures trading launched on December 1, 2017 through two Chicago-based exchanges, CME Group and CBOE. As far as these two exchanges are concerned, bitcoin spot pricing, established by Gemini, is not much different from spot pricing for West Texas Intermediate crude oil or soybeans. Similarly, we are seeing a handful of luxury goods dealers accepting bitcoin alongside fiat currencies. There have been many publicized examples of people exchanging their rapidly appreciating bitcoins and Bitcoin Cash, worth about 20x the level of just one year ago, for condos, exotic cars, and art. Burger King in Russia created a cryptocurrency they call WhopperCoin, which acts as a promotion incentive in their fast food restaurants. Every ruble spent on a Whopper earns one WhopperCoin. After accumulating 1700 WhopperCoins, consumers can exchange their tokens for a free Whopper sandwich.
Marguerite Driscoll’s art explores the themes of mystery, cryptography and obsession.
The second stage of adoption involves technical substitution. In this mode, the core process functions do not change, but new firms and offerings displace older ones. According to CoinATMRadar, 61 countries now support almost 2000 bitcoin ATMs, in which cryptocurrency holders can buy and sometimes sell bitcoins or other cryptocurrencies. The US leads this industry, with 64% of the installed base of these devices. Bitcoin gift cards (essentially hardware wallets) are available from Amazon and other web retailers. There are dozens of blockchain-based gambling sites such as True Flip that have emerged in the past 18 months. Some geographies like Malta are friendly to gambling sites, and blockchain gambling adds anonymity as well as performance transparency to this large, established industry.
The third stage in the adoption of blockchain technologies involve new local services, often previously not available except to or through a few parties. Bitcoin has become a useful tool for low cost cross-border money transfer. Until a year ago, almost all person-to-person foreign exchange payments went through a handful of high cost services such as Western Union or Moneygram. Bitcoin transfers take place in the time it takes to send and receive an email, and the currency conversion fees are approximately half of the level charged by the major incumbents. IBM recently introduced its AI-based Watson IoT and Hyperledger initiatives to connect business partners to share and analyze IoT sensor data. The IBM Blockchain smart contract acts as an independent third party to certify the authenticity of the content. Interbank clearing and settlement is an unsexy back office function that costs the investment banking community billions of dollars to run and audit. Depository Trust and Clearing Corporation (DTCC) is working with IBM, R3, and Axoni to shift post-trade clearing of single-name credit default swaps to a blockchain system.
These three stages are sustaining innovations with increasing impact on industry costs, but do not necessarily disrupt the overall industry value chain. The fourth stage, however, involves a total overhaul of the core industry structure with blockchain systems tearing apart the normal centralized command and control structures. In this final stage, smart contracts replace the expected role of a trusted master owner for the marketplace; buyers and sellers agree independently on terms for their own transactions, and they publish their decisions and certify that each has held up their end of the bargain. There are hundreds of blockchain projects aimed at one or another specialized marketplace, from sensors (IOTA) to energy (SolarCoin, WePower), healthcare records (Patientory, MedRec), identity management and security (ABT, CUBE), and media content rights management (StreamSpace, SingularDTV, Mycelia/UjoMusic, Revelator).
These disruptors are most successful when they target unserved or underserved segments of users that do not place a high value on the conventional services provided by the centralized incumbents and their preferred value chain partners. Netflix is busy becoming a major content developer studio, partnering with the dominant broadband service providers, AT&T, Verizon, Comcast, and Charter Spectrum to ensure superior viewing experiences through its CDN. Google’s YouTube TV is looking to become a cable replacement service, offering live TV streaming to smartphones and smart televisions. Alternative service providers will succeed when they bring unique content that appeals to people who want something different — independent media content, foreign news and entertainment, specialized educational content or online classes, and interactive virtual/augmented reality services, among others.
Interesting framework!
FYI the original article: https://hbr.org/2017/01/the-truth-about-blockchain + https://hbr.org/webinar/2017/02/the-truth-about-blockchain
The use of the BlockChain mechanism, beyond the financial world, is also slowly entering our lives. For example; The approval of distance education diplomas at a university in Southern Cyprus is done with BlockChain. There is also an academic, if necessary, public sector discussion in Australia where an informatics expert says that if the digital identity cards that are not accepted due to privacy concerns in the country are made with BlockChain, all these problems will be solved. The Blockchain system is a very convenient environment for exchanging any virtualized virtual emtian on the internet and for the elements of virtual sharing economy like AirBnb, Uber.@adsactly
I THINK SO,With the adoption of the technology of Blockchain, the current situation of a growing learning business can be greatly improved.Life will be more easy!Very interesting post!
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hi this is very in portent post in future best of luck
This approach is that we all will then we moving found to be. And achieve our future.
This post is enriching me. Insightful.
Blockchain will do wonders in imparting education for the elite and less privileged as well. It would introduce a transparent system of universal education for all people living on different geographical locations.
The most important aspect of the blockchain technology will be its cost effectiveness. It will reduce cost for remote areas. The people will be able to access quality education from a dependable and transparent system of Blockchain.
Thank you for providing a great insight on such an important issue of the globalized world @adsactly. It was an amazing and useful write up @jznsamuel. Thank you.
Education is most important for everyone, i like this post. all the best my dear
Really we need this for our knowledge regarding cryptocurrencies , makes us challenging for beginners.
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Will education-related projects follow this model? Will they utilize third-party platforms, like Ethereum, to build their projects? What does it mean to build financial incentives into these new educational models? And what are the implications of relying on third party platforms for what some are arguing is going to be “the future” of identity management and legal paperwork?
This blog very nice..I like Bitcoin..I appreciate your blog.thanks for sharing this post..Best of luck.
" Abc"-- simple knowlaged
Currency is numbers and numbers never end. If it takes currency to be powerful, your search for power will never end.
RESTEEM DONE🙌🙋🙆THanks for sharing, I knew the banks will look for ways to control crypto currencies so humans will always be enslaved, people coming back to them for loans which is one of their major trick in making profits. Thank you @adsactly for very interesting post ...😍😍
For every great step there would always be challenges but it is only a matter of time before the widespread usage is adopted. There is no limit to what blockchain can do. The effects run and cut across. So excited.
That is great it will help a lot in education.
OMG..
Good info, i hope be join like you
Rightly so. We are yet to see the wonders of blockchain. More innovations will unfold. The twin advantages of decentralization and transparency cannot be overemphasized.
Good post freints
Exelente post..!
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very good topic in #education category as I need to learn about blockchain more.
@adsactly as you said, its potential is revolutionary. It can help a lot of people and not just the making the industries better and faster. But at the same time people are using this thing to take advantage of other people who are trying hard to make living. They should be ashamed of theirselves. I hope that this insecurities will be solve, cause the different goverment of the world are skeptic about blockchain and other cryptocurrency. So many fraudulent around the net, makes the people who wants to invest into crypto doubtful of it.
very informative post regarding Block chain Transforming Industries: Education, Thank for sharing Challenges And How Can They Be Addressed and others information.
The Blockchain system is a very convenient
Very interesting post. I really need to be educated on the Blockchain system and will definitely be tuned into your next post. thankyou @adsactly
Im very naive to what would be the future of blockchain offer us for the future but im really eager to understand it, i guess i have to learn more about it and im really hoping for some help for me to better understand the good cause of it. Thanks for sharing @adsactly 😁.