Universities have often been known as incubators where novel ideas are nurtured. When it comes to the blockchain, universities have not been left behind; they are truly in the forefront with this new technology. The following are a few ‘blockchain for education’ initiatives that we found worthwhile to report on. Read on.
#1.Tuition in Cryptos
Cyprus’s University of Nicosia, British Colombia’s Simon Fraser University and New York’s King’s College are just a handful among many universities that have started to allow tuition fees to be settled in cryptocurrencies. Many other universities had restricted this form of payment to only students enrolled in technology related courses. However, with the initiatives from these universities, such payment options are now being allowed for all students across all disciplines.
This trend is expected to catch on in the years to come especially as college fees begin to commensurate with Bitcoin prices.
The advent of sophisticated photo editing software such as Photoshop means that companies have to spend a lot of time and resources to vet their applicants, especially when it comes to the diplomas they claim to have earned.
A would-be employer has to go through a lot of red tape in verifying credentials from universities and other institutions of higher learning. Such verification checks are both costly and time consuming.
The Massachusetts Institute of Technology (MIT) is piloting a program that will allow graduates to upload their certificates to an app built on blockchain technology so it will be easy to share credentials with others.
As the diplomas stored on the app are indisputable due to the security and inalterability inherent with a distributed ledger system, companies can more easily (quickly and at lower cost) verify the credentials of applicants.
#3.E-Portfolio for all Academic Records
There are many other initiatives that have taken the MIT kind of approach to a new level. There are new programs intended to serve as a whole repository of academic records not just university diplomas.
Sony and IBM are partnering on a program that will “secure and share” students’ records beyond just graduation certificates. Transcripts, attendance data and other pertinent student data will also be available through this program.
The University of Texas is at the moment putting its icing on the cake for a program intended to slash the amounts of money spent on verifying student credentials for universities. Its program, ChainScript, intends to use blockchain technology to create an unchangeable portfolio that features credits, competencies, degrees, certificates and other achievement records for every student.
Thanks to blockchain technologies, fake degree holders will soon be put out of their jobs.