BlockchainArmy and Aydin University have agreed to start a Blockchain Academy. The event held at Aydin University’s Incubation in Istanbul, and Turkey was attended by distinguished guests like Yoram Kraus Founder of INFIBOND AI Technology World Leader, Professor Massimo Buonomo, UN Blockchain expert and Pavlos Efthimiou General Manager of EENE Greek Entrepreneurs.
BlockchainArmy Chairman & Co-founder Erol User spoke about how Blockchain education and integration could revolutionize the education system at Aydin University. His speech was very well-received by the audience.
Blockchain technology was initially only used in cryptocurrencies but slowly is being used in all sectors like business, finance, healthcare, music, real estate, etc. It is also being used in the education sector. Use cases are being created to integrate blockchain with the education sector to make it more accessible, affordable, and transparent.
Many companies in the EdTech sector that are expected to reach $93.76 billion by 2020 are integrating Artificial Intelligence and Virtual Reality with their systems.
Blockchain technology can impact the education sector in the following ways:
Universities can issue digital certificates on the blockchain. The students don’t have to worry about the safety of their certificates as the blockchain is a very secure technology, and data stored on it cannot be changed or erased. Universities will not have to issue transcripts of certificates.
It makes it easier for universities to accept students from another university as they can check the student’s certificates on the blockchain. It also eliminates the chances of falsifying information.
For example, MIT issued a virtual diplomas to its students.
As per Forbes, student debt in the US has risen to $1.52 trillion distributed among 44 million people. The high education loans affect students in later years as they lose a chunk of their salaries in paying back these loans.
Blockchain can help to make education more affordable. If all diplomas, certificates, etc. are recorded on the blockchain, it reduces infrastructure costs as universities will not have to print them. It also reduces security costs as digital certificates will be stored securely on the blockchain.
The blockchain allows multiple students access to their records. Multiple universities can access student records. Thus, Blockchain also reduces the data system cost.
Massive Open Online Courses (MOOC):
Over 101 million users are currently enrolled in MOOC, and MOOC-based EdTech companies had issued 500 certificates till 2018.
In addition to ensuring the security of certificates issued by EdTech companies, Blockchain combined with cryptocurrency can allow microtransactions for individual courses.
Open Source Universities (OSU):
Open Source Universities store all their courses, certificates, and credentials on a unified Blockchain database. It reduces instances of cheating and fraud.
OSUs design their courses. The cost of distribution is reduced due to blockchain, which allows universities to create niche courses.
Students have lifetime access to their digital records on the blockchain, which they can show to any university or employer simply by clicking a button on their smartphones. It reduces the cost of physical storage of certificates for the university.
Smart contracts can help secure records like attendance, assignment completion, weekly test grades, project completion, project grades, etc. It can reduce paperwork expended during the duration of a course.
BlockchainArmy, with its years of experience, is ready to provide any help needed by EdTech companies in integrating Blockchain technology with their systems.