Blockchain in Education
The blockchain revolution is impacting all kinds of automated and financial processes, including those in education. This relatively new technology is still in its infancy, but the possibilities are endless.
The Evolution of Automation
The evolution of automation never stops. Since the 1970s, the optimization of administrative processes has brought about major changes. Early developments were primarily database-oriented; in the 1980s, the personal computer made its debut; and starting in the 1990s, online features were added. In this century, countless mobile applications have also been added, ensuring that we no longer have to sit behind a computer in an office from 9 to 5.
In all sectors of public life—including education—there has been an evolution in terms of timeliness and completeness. At this point, it can be said that automation and digitization have been nearly 100% optimized.
From Evolution to Revolution
Of course, developments never stand still. In recent years, we have seen that blockchain technology is poised to become the next successful application, gradually replacing existing technologies. Instead of a centralized system involving intermediaries and other third parties, administrative and financial processes will primarily take place on a peer-to-peer basis.
The main features and benefits of the technology behind blockchain:
The main features and benefits of the technology behind blockchain:
- A New Approach to Trust and Organizational Governance Through Consensus
- No central authority / non-political
- Fewer systemic risks / No ‘regulatory capture’
- Virtually no friction / fast and inexpensive
- Global / transparent / free from censorship
- No barriers to entry
