Decentralized architecture, verified transactions, and an immutable application- These are some attributes that come with blockchain integration with your business.
Every now and then, any business, no matter what industry it belongs to, grows. This growth is usually promoted by changing and forever-growing business environments and industry innovations. A significant part of this growth today is technology. And the biggest revolution that technology is bringing in recent times is blockchain.
It has become obligatory for businesses and organizations to be open to radical changes in order to have a sustainable strategy of doing business and stay relevant indefinitely. Blockchain is one such revolution that will bridge businesses and the future. Let’s see how the real estate industry will benefit from this novel technology.
Education has been at the core of civilization for tens of thousands of years. Whether it is the Takshasheela built by Chandragupta Maurya in 317 BCE or if it is the University of Karueein or al-Qarawiyyin, founded in 859 AD in Fez, which by the way is still a functioning campus and the oldest one on the planet. Education as an industry might have developed after the British started colonizing and using it as a tool for getting more trained labor. But, it is an industry that has been enjoying it’s stable and steady profiting and getting an education becoming more and more commonplace around the globe.
This idle characteristic got shaken up as soon as digital technology started taking over a lot of functionality of how students receive an education. Whether it is social, mobile, analytics, the cloud, AI, and the Internet of Things (IoT), the most significant change is not projectors and digital interactive boards in the classroom, but it is the elimination of the idea of a classroom. Everything went digital.
The Joint Research Council of the European Commission published an entire report titled Blockchain in Education which is an exploratory review of blockchain technology for education and its applications within Europe. That is proof enough of what potential the marriage of education and blockchain behold.
It is foreseen that a blockchain+education ecology will bring about a reform in the educational system. Let’s see how:
Easy verification of academic track records through DLT solutions
Skill-based achievements could be easily added to e-portfolios that employers can refer to.
Rather than piling of data into an archival, a more systematic directory approach can be taken with student data record keeping.
Without having to carry physical identification, students can have an identity to exhibit anywhere with an internet facility.
Hacking blockchain based systems is next to impossible. Your on campus infrastructure becomes truly tamper-proof.
More and more data is being stored by schools and DLT cloud storage could offer cheaper storage services.
Achieving sustainability gets a little bit easier with DLTs disintermediating the adoption to renewable options for energy.
Loyalty programs and gift cards are are a business strategy that even small businesses can now adopt, especially for students.
Reduce paperwork by deploying automatically executing agreements that will make collaboration in the education sector more efficient.
There is no dearth in the number of students who are willing to learn virtually. DLTs will create various such marketplaces that connect the experts with the curious students.
School supplies, on campus, stores, student businesses are going to benefit and create a global network creating small school based economies.
A huge number of educational institutions thrive on CSRs and money coming in from generous charities. Donation will be easier, and more transparent benefiting education directly.
From conducting better background checks on the experts hired, to transparent and efficient financial governance mechanisms, the educational institutions will benefit the most.
The heart of any education institute, the library will benefit from a metadata archive, community-based collections, and effective digital rights management. The school information management systems are going to benefit.
Institutions with high investment in research and breakthrough chasing philosophy can curb issues like rights management and piracy that comes after publishing their work.
These are just a few of the many value-based benefits of blockchain integration in education pointed out by Tom Vander Ark in the education beat at Forbes. Educational innovation is going to bring evolutionary changes, if not revolutionary transformations through blockchain.
From open universities to students learning from independent experts sharing knowledge on platforms like YouTube, education has come far from the borders of not just a campus but even continents. The recent pandemic brought the entire community of students and professors, lecturers, and industry experts in front of their screens to conduct classes, exams and even convocations while maintaining social distance from the convenience of their homes.
Blockchain, if it had undergone the innovation process before the spread of the virus, the transition would have been much more smoother and efficient. According to the EU Report of Blockchain in Education, “Further development of the technology in the educational field should be considered as a shared competence of the market and of public authorities, to ensure an appropriate balance of private sector innovation coupled with safeguard of the public interest.”
If you ended up here trying to know about getting an education about blockchain technology, you might find better help here. We hope this page helped you get an insight about the industry applications of blockchain technology. For other industry diagrams, you can find more information here. If you are looking for a career in blockchain, Codezeros could be your next workplace. Go slay the world, if blockchain excites you, The world is your crypto oyster.
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