By now you probably know that blockchain technology is what makes bitcoin work, but while cryptocurrencies are the first widespread application on a blockchain, this is not the only use for it. Being secure and decentralized, blockchains can be applied in many fields including healthcare and education.
Can Blockchain Education Be the Future of Learning?
Educational technology has taken huge steps during the last few years, but there is still a long road ahead to full modernization, especially in undeveloped countries. Blockchain technology can help speed up the process. The pandemic along with the widespread use of smartphones and tablets is rapidly replacing bulky desktop computers and antiquated textbooks as the preferred method of learning.
The benefits of blockchain technology in education are many because blockchain is a public ledger it can automatically record and verify transactions. Therefore it has the ability to better manage accountability through smart contracts. It can increase transparency and the overall educational experience for both students and teachers. Plus learning can be incentivized with tokens.
Tokenization has become a mainstay of blockchain. Before long, academic institutions will be able to incentivize students to pay student loans on time and teachers to motivate students by awarding cryptocurrency to those who perform highly or complete certain tasks.