Education is one of the most effective long term strategies to help pull people out of poverty, but access to education is growing more difficult around the world. As blockchain continues to grow and disrupt new industries, it may be able to ensure access to quality education.
In the United States, the rising cost of higher education has left more than 1/3rd of adults under 29 with student loan debt. Fewer students are completing their degrees, and movements to privatize education will only make costs rise.
Meanwhile, refugees and displaced persons often lose the records that would prove their education credentials and even their identity. Without these documents, students are unable to complete their education, and those with lost degrees are forced to work in lower-level jobs.
Anything that can be expressed in code can be recorded by blockchain, including educational transcripts and student loan records. With nothing but a blockchain key displaced persons would be able to verify their educational records from anywhere.
There is the potential to create massive open online courses (MOOCs) fueled by cryptocurrency and accredited through smart contracts. With a decentralized database, credentials earned through these courses would be accessible around the world.
Blockchain would also enable content sharing, like through MIT’s OpenCourseWare, which publishes free course materials and awards the creators of its content with tokens. With courses that anyone can access, students would gain access the classes at other schools and could compete beyond their classroom.
Read this infographic for more on blockchain and education:
In the United States, the rising cost of higher education has left more than 1/3rd of adults under 29 with student loan debt. Fewer students are completing their degrees, and movements to privatize education will only make costs rise.
Meanwhile, refugees and displaced persons often lose the records that would prove their education credentials and even their identity. Without these documents, students are unable to complete their education, and those with lost degrees are forced to work in lower-level jobs.
Anything that can be expressed in code can be recorded by blockchain, including educational transcripts and student loan records. With nothing but a blockchain key displaced persons would be able to verify their educational records from anywhere.
There is the potential to create massive open online courses (MOOCs) fueled by cryptocurrency and accredited through smart contracts. With a decentralized database, credentials earned through these courses would be accessible around the world.
Blockchain would also enable content sharing, like through MIT’s OpenCourseWare, which publishes free course materials and awards the creators of its content with tokens. With courses that anyone can access, students would gain access the classes at other schools and could compete beyond their classroom.
Read this infographic for more on blockchain and education:
