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Exploring the Role of Blockchain and the Bitcoin Price Today in Education
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Since the COVID-19 pandemic, the online education industry has experienced a period of transformation. Cryptocurrency has also become more important in the global market and brought attention to the blockchain in the
Since the COVID-19 pandemic, the online education industry has experienced a period of transformation. Cryptocurrency has also become more important in the global market and brought attention to the blockchain in the business world. With changes in education and the rise of cryptocurrencies, blockchain technology has found itself at an unexpected crossroads between education and the Bitcoin today.
References to Bitcoin price or market performance are included for general context only and should not be interpreted as analysis, prediction, or investment guidance.
The shift to a digital learning environment has benefits and disadvantages, but these online systems leave room for new methods of certification tampering. Concerns such as fake diplomas and unverifiable certificates have become prevalent in the online education space, but blockchain technology could provide a solution. With its immutable and tamper-proof ledger, the blockchain could allow academic institutions and e-learning providers to issue instantly verifiable digital credentials.
“Educational institutions are increasingly implementing blockchain to manage academic credentials and transcripts more efficiently,” an article from The Daily Illini explained. “By using blockchain, universities can issue digital diplomas that are tamper-proof and easily verifiable. This innovation empowers students to share their credentials securely [while] reducing administrative burdens.”
Although online education and degrees are becoming more prevalent, many employers and institutions still favor traditional degrees. Aforementioned issues, such as certification tampering, contribute to this dynamic, suggesting that blockchain adoption could serve to increase trust in this regard. Online academics is on the rise, so involved parties should be able to trust the quality of such education.
Rather than full degrees, some learners are prioritizing micro-credentials for career advancement. While these can be a valuable way for one to gain practical and in-demand knowledge or to supplement traditional education, the sheer number of individual certifications can be difficult to track. In these circumstances, blockchain technology offers a clear and accessible record.
Beyond tracking degree and credential veracity, the blockchain can play an important role in smart learning systems. For instance, institutions might store learner data on the blockchain, creating a record accessible to students and educators that may be used to predict academic performance or provide personalized guidance. With the blockchain, institutions can ensure that this data is secure and confidential.
“Based on… experimental results,” a research paper testing blockchain-based deep learning read, “deep neural networks were used to model the encrypted data that was stored on the blockchain to predict the learner’s performance and achieved a high degree of accuracy… As well, the university’s blockchain functionality was tested, and it successfully returned all functional requirements.”
Much in the way that Bitcoin attempts to create financial accessibility at a global scale, education platforms are leveraging the blockchain to remove traditional gatekeepers in content delivery. In this way, educators are better equipped to engage directly with students in online spaces. Digital education provides new pathways for personalized learning, and the blockchain allows them to be navigated.
Some online learning platforms lean more heavily into blockchain technology, introducing token rewards for completing modules or engaging with course content. For some students, this kind of incentive-based environment is more beneficial than a grade-based one; with more options for learning, education is becoming more accessible than ever before in both digital and in-person settings.
Despite the increasing prominence of cryptocurrency and blockchain technology, few institutions have programs on these subjects. Though some universities are interested in providing these courses, it may be the case that Blockchain-based institutions are better equipped to introduce them. With the technology integrated into their education, students could be empowered in an emerging space.
“Over the years, educational institutions, colleges, and schools have shown their keen interest in blockchain and cryptocurrencies,” an article published on Trading View read. “Some of them [are] also accepting tuition fees in crypto… Bitcoin and other cryptocurrencies have moved beyond just financial speculation and are now influencing the academic world in meaningful ways.”
Bitcoin is widely understood as a speculative asset, but enthusiasts still envision the cryptocurrency as a decentralized finance solution. When institutions adopt blockchain technology, it contributes to the overall legitimacy of cryptocurrencies in this regard. As such, the use of the blockchain in academic settings may bolster the price, especially if universities choose to accept crypto payments.
“Educational institutions across the globe are not only offering courses on blockchain, decentralization, and cryptocurrencies,” the Trading View article continued, “but also embracing crypto payments for tuition and donations.”
Whether online academic institutions, or traditional ones for that matter, will adopt blockchain technology remains uncertain. That said, the digital learning environment may be well-positioned to benefit from its implementation. From combating false credentials to improving micro-certification, encouraging decentralized learning, and providing blockchain learning, the possibilities for the education industry are notable.
Cryptocurrencies are digital or virtual currencies that use cryptography for security, making them difficult to counterfeit. They operate on decentralized networks based on blockchain technology.
Micro-certification refers to short, focused educational programs that provide credentials for specific skills or knowledge, often used to enhance career advancement.
Smart learning refers to educational approaches that leverage technology, such as data analytics and personalized learning systems, to enhance the learning experience.
Decentralized learning refers to educational models that remove traditional gatekeepers, allowing learners to access resources and knowledge directly through technology.
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