Not long ago, Blockchain was a buzzword, and every business was eager to hire Ethereum developers (Ethereum being one of the most popular Blockchains). But, as time passed, people and the industry evolved, and organisations increasingly prioritise full Blockchain consulting services above investing in solution development.
Blockchain is a network of distributed ledgers in which information is stored as cryptographic hashes in groups (called Blocks). Any size of data can be transformed into a unique fixed length alphanumeric string via a cryptographic hash algorithm. The cryptographic hash of two distinct data components can never be identical.
Even modest modifications to the data will produce a different cryptographic hash. Various Blockchains collect a specific number of hashes into a block, and each block has a reference to the previous and next block, forming an immutable chain of hashes linked together.
Problems in the education industry and how Blockchain can assist in resolving them?
The education industry is fragmented, with data stored in silos. It is mostly dependent on information made available in print. As a result, the data is vulnerable to duplication and modification. The following are some of the major challenges:
1. Validation of certificates
With the variety of professional image editing software accessible, a paper-based degree or certificate can be readily reproduced or modified. It is nearly impossible to tell the difference between a doctored or fraudulent document and the original. Despite the fact that most certificates/degrees have a unique identification number. This unique number’s audit and verification capability is limited or non-existent.
Companies pay a third-party provider of verification services to confirm these certificates/degrees. The verification process is time-consuming and lengthy, causing unnecessary delays in the hiring process.
Solution
Ethereum development can be used by educational institutions to construct a blockchain-based network of institutes. You can employ a Blockchain Software Development Company in Dubai to assist you with the process of creating an Ethereum platform.
Other corporate firms with access permissions can join this network. Every transaction in such a network is timestamped, and the transaction details are preserved in the form of a cryptographic hash, making it extremely difficult to modify the recorded information.
A Blockchain-based network is a ‘write-once only’ network, which means that new data may only be appended, not deleted or modified. Even the owner of the information’s owner can only add to it, and it’s easy to track who and when made the changes. This network can be used to disseminate degrees and certificates digitally.
All profile information can be preserved in the form of a smart contract, which is a function of the Ethereum Blockchain. Educational institutions can publish certificates/degrees on the network and incorporate the information into smart contracts. When new information is uploaded to the smart contract (such as a new certificate or degree), the user must verify the information. After verification, it becomes a permanent record of the person’s profile.
Every network member, including businesses, will receive automated alerts triggered by the smart contract when a person’s profile is updated or modified. This streamlines the verification process by eliminating the need for third-party verification services. Yet, in the real world, third-party verification firms can use such networks to provide better services.
2. Proof of originality and authorship
In higher education, research is very important. Postgraduate students and academics routinely publish the results of their research. Furthermore, corporations sponsor many of these studies. To assess whether a piece of work is original or reproduced, universities and journals use online plagiarism procedures that cost thousands of dollars.
Solution
On a Blockchain network, each research item might be assigned a unique identifier (as previously mentioned). Furthermore, the text file containing the research work can be passed via the SHA-256 (Secure Hash Method) algorithm, which generates unique 256-bit hashes for added security. As a result, making duplicates of the information is impossible, and access to it is restricted to those with the necessary credentials. Furthermore, demonstrating ownership of the work is straightforward.
3. International transfers
Many students travel across borders to enhance their education. When transferring funds across borders to finance tuition and other educational expenses, they face various hurdles. Foreign transfers incur significant transaction expenses, and it is impossible to predict when the funds will be delivered to the receiver.
Solution
Education institutions can settle payments more rapidly by developing a cryptocurrency that can be used to pay for a variety of educational services and fees. Additionally, this cryptocurrency can be used to automatically award high-performing students via smart contracts when they accomplish certain milestones, with the funds earned then being used to pay fees or enjoy other educational facilities.
Conclusion
The education sector is well-positioned for Blockchain adoption. The benefits of using Blockchain much surpass the development expenditures. To properly capitalise on this technology, however, a technical partner capable of delivering comprehensive Blockchain consulting services is essential.
