Benefits of Introducing the Blockchain System in Education
In order to understand the benefits that the blockchain technology can provide the education system, we will first have to understand what the blockchain technology is. Blockchain is a new innovation in computer science and information technology, that has a world-wide reach as well as interdisciplinary applications. Its disruptiveness has already made its way into the economic sphere. By the year 2025, 10% of the world’s GDP will be managed by Blockchain technologies, of which half will be in the form of cryptocurrency, according to The World Economic Forum . Blockchain simply put is units of value or pages of a ledger that are distributed/shared by a community. In this community, each participant keeps his or her own copy of the data or info. The information could contain transactions (a currency or other unit), agreements (contracts to move assets, funds, or information), or nearly everything else that can be put into a digital form. Each modification or addition of...