An Exploration on Verification of Educational Assets Through Blockchain Technology

Abstract

Emergence and development of the blockchain technology, which is able to transform into “a most powerful disruptive innovation”, shall definitely concern universities. Moreover, nowadays the blockchain technology meets the challenges that both the system of higher education and the entire society are currently facing. Advantages of the blockchain technology are decentralized open data, absence of forgeries, safe storage of information, and reduction of transaction expenses related to data checkup, control, and verification. As of right moment, blockchain is considered to be a widely applicable technology with huge potential. In addition, information stored on a Blockchain record can be accessed from anywhere at any time. The potential for blockchain to manage and maintain student records is enormous. Blockchain is the key piece of technology used to create digital currencies like bit coins. Blockchain technology is a component of the fourth modern revolution after the development of the steam engine, the electric motor, and the computer. It has been used in many fields, including finance, law, and trade. The current article focused on its potential educational applications and looked into how blockchain technology might be used to address various challenges with education.