The blockchain is an invention with irrefutable resources that virtually revolutionize the global business market. Its evolution has brought greater benefit in the education sector and not only for many companies but also its beneficiaries. But since its revelation to the world, a vision of its operational activities remains unclear. The main question everyone thinks is:
What is blockchain?
To begin, Blockchain technology serves as a platform for the transit of digital information without the risk of copying. In a way, it laid the foundation for a powerful pillar of a new kind of internet space. Originally designed to handle bitcoin – trying to explain to the layman the functions of its algorithms, hash functions, and digital signature property, technology enthusiasts, are now discovering other potential uses of this immaculate invention that could pave the way for the emergence of an entirely new negotiating process in the world.
Blockchain defined in all respects, that is a kind of algorithm and data distribution structure allowing the management of electronic money without the intervention of a centralized administration, programmed to record all financial transactions and all that which has value.
The operation of the blockchain in the education sector
The blockchain can be understood as a distributed ledger technology originally designed to support Bitcoin cryptocurrency. But after heavy criticism and rejection, the technology has been revised for use in more productive areas like education.
To give a clear image, imagine a spreadsheet that has virtually grown tons of times over a plethora of education systems. Then, imagine these networks are designed to update this spreadsheet from time to time. That’s exactly what blockchain is.
The information stored in a blockchain is a shared sheet whose data is reconciled from time to time. It is a practical way that evokes many obvious advantages. To be with, the data of the blockchain does not exist in one place. This means that everything stored there is open for public consultation and verification. Besides, there is no centralized information storage platform that can be corrupted by hackers. It has virtual access to more than one million computer systems side by side, and its data can be accessed by anyone with an internet connection.
Durability and authenticity of the blockchain in education
Blockchain technology is something that minimizes Internet space. It’s classy rugged. Similar to the web-based offering of data to the general public schools, authentic blocks of information are stored on a blockchain platform, which is identically visible across all over.
It is essential to note that the blockchain cannot be controlled by a single person, entity, or identity and has no point of failure. Just as the Internet has proven itself as a sustainable space for 30 years, the blockchain will also serve as an authentic and reliable global platform for business transactions as it develops.
Transparency and incorruptible nature
Industry veterans say the blockchain lives in a state of consciousness. It is practically true from time to time. This is like a self-auditing technology in which its network reconciles all the transactions, called blocks that take place on board at regular intervals.
The importance of blockchain
Create a currency that is not only as transparent as the operation itself, but that is an integral part of it. If this currency is interchangeable with the currencies issued by central banks, it remains only to convert the digital currency into a well-known currency such as the Canadian dollar or the US dollar, which can be done at any time.
The technology that is referred to in the example is blockchain technology. Trade is the backbone of the economy. One of the main reasons the money exists is for commercial purposes. Trade is a significant percentage of activity, production, and taxes for different regions. Any economy in this field that could be applied throughout the world would be very significant.
The use of Blockchain technology in education
Blockchain technology in education can be used to identify students who really need scholarships and those who can afford them. Indeed, some students have bypassed the system and have been funded. This would end up being detrimental to needy students who end up dropping out or accumulating a lot of debt that almost makes them work.
This approach has its own advantages. This does not allow the database to be stored in a single location. The records it contains have a real public attribute and can be checked very easily. Since there is no centralized version of the records, unauthorized users have no way of manipulating and corrupting the data. The Blockchain distributed database is simultaneously hosted on millions of computers, making data easily accessible to virtually anyone on the virtual Web.
To clarify the concept or technology, it’s a good idea to discuss the analogy of Google Docs.
The analogy with Google Docs for Blockchain
After the advent of email, the classic method of sharing documents is to send a Microsoft Word document as an attachment to one or more recipients. Recipients will take their time to review it before returning the revised copy. In this approach, you have to wait for the return copy to see the changes made to the document. This occurs because the sender is prevented from making corrections until the recipient has finished editing and returns the document. Contemporary databases do not allow two owners to access the same record at the same time. This is how banks maintain the balances of their customers or their account holders.
Highlights of the Blockchain
The blockchain stores identical blocks of information on the network. By virtue of this characteristic:
- The data or information cannot be controlled by any particular entity;
- There can be not a single point of failure, either;
- The data is stored in a public network, which guarantees absolute transparency throughout the procedure;
- The data stored there cannot be corrupted.
However, when students study very hard, regardless of the relevance of their subjects, they get good marks. They then go to a higher class, where the same things are repeated, with the only difference that the burden of academic success is increasingly heavy.
The point we are trying to make
No matter how strange the above information may sound, it says a lot. This is because many seem to have many misconceptions about what true education is and where to focus. For the moment, it seems to be a very broad source of information, which will be anything but useful for students when it comes to going out into the real world and playing.
Finally, a real education system like BitDegree is probably very different from what most people think. With the right knowledge and understanding, however, the current situation could perhaps be changed for good.
There are many definitions of education, but, simply, education is an act or process that consists of transmitting or acquiring general knowledge, strengthening the capacity to reason and judge, and generally to train or mentally train other people for mature life.
Today, many underdeveloped countries do not pay attention to the importance of education in society, which has prevented most countries from developing. I wonder what the benefit would be if most of these underdeveloped countries had well-educated government members and could pay adequate attention to the country’s education sector so that young people could develop and reposition the country as they were called leaders of tomorrow.