Since Blockchain has a decentralized and secure nature, different industries like finance, healthcare, education, real estate and more are adopting it. Talking specifically about the education sector, the use of Blockchain is growing rapidly.
It is needless to say that blockchain technology is a powerful new tool that has the potential to revolutionize many industries. Talking about Blockchain, public blockchain networks are open to all, whereas private blockchain networks limit participation to trusted parties only. Furthermore, computers on a blockchain network are known as nodes, and they all upkeep a shared ledger of all transactions. This distributed ledger makes data sharing convenient and efficient. It also promotes transparency.
The decentralized nature of Blockchain, together with the security features like digital signatures, encryption, cryptographic hash functions, secure qr codes, and consensus algorithms, protect the data like educational certificates, diplomas and more against tampering. Therefore, the security features of Blockchain are helping in protect student records.
Challenges with the Involvement of Blockchain
Despite the possible benefits of Blockchain, its adoption in the region is still limited. Much of this apprehension may be because of the difficulties of deploying the technology. Have a look at some challenges that educational institutions face regarding blockchain adoption and involvement.
Rate of Adoption
Blockchain, like other technologies, can only succeed if sufficient institutions and employers trust it. Likewise, the graduates will only benefit from ownership of their credentials if the educational institutions or firms they are applying to accept their lawfulness.
However, thousands of educational institutions currently issue and recognize blockchain credentials. As well as a network of job platforms advocating their use, they could soon become the norm rather than the exclusion.
Educational institutions have so much data about their students and graduates. It might make blockchain scalability an issue. Since each transaction needs peer-to-peer verification, the number of blocks needed grows as the extensiveness of data involved grows. It slows down the efficiency of transactions on the Blockchain. It can be a considerable impediment if implemented widely.
Lack of Trust Among Blockchain Users
This challenge forks into two orders: educational organizations may not trust the security of the blockchain technology itself. Secondly, they may not trust the other parties on the blockchain network. Every transaction in the Blockchain is secure, private and tested. Even though there is no central authority present to authenticate and verify the transactions, it is the reality. It is a network that is decentralized. An essential part of any blockchain network is the consensus algorithms that drive general agreement about the present state of the distributed ledger for the whole network. It promises that every new block added is the only form of the truth that all the nodes agree in the Blockchain.
With Blockchain, you can ensure that all your educational credentials are safe. In addition, you can be confident about secure document keeping and more. Indeed, though one of Blockchain’s distinguishing characteristics is security, this does not imply that it is impenetrable. On the contrary, because the information saved on the Blockchain is so sensitive – students’ educational records and academic credentials , institutions must be careful what data they store and how they preserve it.
The Bottom Line
It would be innocent to claim that blockchain technology challenges are not significant barriers to its overall adoption. However, if you have professional guidance from expert blockchain technology solutions providers like ProofEasy, you can clear most of the challenges. After all, you cannot deny the impeccable capabilities of Blockchain that it can bring to the table of the education sector.