Guest Post was written by Sean Mortberg, an aspiring tech writer.
With each passing day, blockchain technology is growing more and more ubiquitous. Reaching just over $6 billion dollars last month, ICOs in the first quarter 0f 2018 have already raised 118% of total ICO funding in 2017. There are now over 1,600 cryptocurrencies in existence and more innovative blockchain projects than ever before. Healthcare, art, government, real estate, and many other industries are seeing a massive shift or at least the potential for greater efficiency and trust in the institutions and businesses we need as a society of consumers.
The dissemination of fake news and targeted memes on social media as well as the crisis many students worldwide are facing has brought a crisis in education to the forefront for some ICOs seeking to revolutionize yet another field. U.S. students are faced with steep and constantly inflating tuition rates. Many refugees fleeing war-torn countries such as Syria are often unable to prove their identity or obtain educational records lost or destroyed at home.
While blockchain is not the answer to complex foreign policy and human rights issues, it is a useful tool that could improve education and help refugees return home more equipped to help rebuild their homeland. With blockchain, student records are protected on an open-source ledger where they are given sole access with a private key. They are the sole authority on who attains access to records, from universities to prospective employers.
Blockchain would also help create a more equitable global learning community focused on sharing content, research, and course materials free through massive open online courses (MOOCs). Many educational blockchain initiatives reward users and content creators with currency for doing so, including MIT’s OpenCourseWare, SocratesCoin, and the Institute for Blockchain Studies.
Learn more about blockchain and education with the infographic below, provided by SocratesCoin.