Education may be the next industry to be revolutionized by blockchain. With a blockchain network that securely stores and verifies data, educational records and transactions would be securely stored and tamper-evident, and learning would be more accessible to all.
In the United States, higher education in is crisis. With rising costs, more adults are carrying student loan debt, but fewer students are able to complete their degree. At the same time, people displaced by war or natural disasters often lose the records needed to verify their identify and their degrees or credentials.
Blockchain would store educational records in a decentralized ledger, making them less vulnerable to loss in the wake of a disaster. All someone would need to verify their records would be private key or usb drive, even if their country or university were unable to verify their identities.
Blockchain could also make education more accessible around the world, with content sharing like MIT’s Open CourseWare, or through massive open online courses (MOOCs). Using blockchain, MOOCs could accreditate the curriculum and credentials with smart contracts. The Institute for Blockchain Studies is already creating accredited MOOCs using this principle.
To find out more about how blockchain will impact education, check out this infographic: