siliconindia | | JULY 20239Blockchain can simplify the loan management value chain and enhance the experience of the stakeholders, saving administrative costs, and even bringing down the total cost of educationBlockchain's ability to provide student educational data in real-time and make it always available, while safeguardingthedata, is a principal advantage for the education sector. Since there is no single point of failure, thanks to the technology's decentralized design and se-curity, data breaches and record manipulation are practi-cally unheard of.This not only protects the privacy of stu-dents but also ensures that their academic achievements are accurately recorded and easily accessible to potential employers and other institutions. This goes hand in hand with the creation of digital credentials, transcripts, score-cards, letters of recommendation, and the like, creating a verifiable e-portfolio for students. These credentials can be preserved in a tamper-proof manner, allowing stu-dents to easily update and share their achievements with others.Blockchain can also be deployed to develop a more ef-ficient and effective studentlearning and grading system.With thistechnology, instructors can better maintain and protect student scores, thereby reducing the potential for errors or manipulation of grades. Parallelly, this system allows professors to curate and share their intellectual property as digital content with the student population, thereby creating a knowledge repository that can be ac-cessed on the go. This supports lifelong learning by mak-ing open educational resources such as books, podcasts, or videos widely accessible in the public domain.Thus, by creating new, more accessible learning av-enues, blockchain can positively disrupt the education landscape. Student loan management is a time-consum-ing procedure that involves multiplestakeholders, includ-ing students, parents, scholarship foundations,financial institutions,and even the administration of educational institutions. Blockchain can simplify the loan manage-ment value chain andenhance the experience of the stake-holders, saving administrative costs, and even bringing down the total cost of education.Blockchain has the potential to revolutionize the education industry by providing a secure and transpar-ent method of educational information management and dissemination of learning content, verifying credentials, and enabling decentralized learning.The Roadblocks to BlockchainDespite these applications, the adoption of blockchain in education is not without its challenges. One of the biggest hurdles is the lack of standardization and interoperability between different blockchain platforms. This can create difficulties for institutions and students who may need to transfer data from one platform to another.Additionally, even though security is the USP for blockchain, that does not make the technology impen-etrable. Educational institutions must adhere to data protection laws to ensure maximum safety and complete privacy. Furthermore, as these institutions work with a vast amount of data on a daily basis,adopting a scalable model can be a slow and costly affair.The Way ForwardDespite these challenges, Blockchain has the potential to revolutionize the education industry by providing a se-cure and transparent method of educational information management and dissemination of learning content, veri-fying credentials, and enabling decentralized learning. This technology can eliminate many of the challenges faced by traditional education systems, such as fraud and poor information management. As the technology con-tinues to evolve, we can expect to see more innovations in the education industry. Kanad Bhowmik Practice Lead, Edutech services
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