Benefits of Blockchain: Promote Transparency and Raise Education Standards

Benefits of Blockchain: Promote Transparency and Raise Education Standards

Emerging technologies such as the Internet of Things, Artificial Intelligence, Data Analytics and Blockchain are transforming industries, configuring decentralised data pools while powering new ecosystems. From cryptocurrencies to business process management solutions, blockchain has permeated and enriched people and systems to support the coexistence of traditional services and new services.

For example, let us consider the benefits of blockchain technology in a bank: it can be used to create a sort of e-book that tracks every purchase and sale, ownership details, and even the provenance of valuables. The distributed database system that stores multiple versions of each transaction in the form of a block, secured by complex algorithms, makes it extremely difficult to hack or modify. 

Where can this characteristic of blockchain be adopted in the education landscape?

Commonly, individuals secure multiple qualifications from various educational institutions or attend short-term courses to upskill, get certified or even maybe promoted. And, each university has a small team to handle verification queries from the employers. The members of the team quickly access a local storage device or a cloud server to check and verify a person’s qualifications against their CV – a time-consuming and expensive exercise.

Now, as we saw above, one of the benefits of blockchain is its decentralised system. It shares the data across a network of computers, forming a digital ledger of information that is immutable. Also, each computer will have a complete copy of the ledger, so if one or two computers fail, it will not result in any data loss. 

While conducting verification of a file, a benefit of blockchain – its distributed nature allows anyone to check and verify the digital signature of a file across any of the computers in the network. It further makes it easier for individuals to share their certificates with prospective employers and institutions in a direct, autonomous and secure way.

Blockchain works as a platform for achieving and maintaining integrity in distributed peer-to-peer systems, removing the need for any central authority or clearinghouse. 

This is how the system works:

  • Every user maintains their information, including transactions, contracts, certifications, credentials, assets, and identities. 
  • These entries are permanent, transparent and secure, which helps tackle frauds.
  • Every new update is an added ‘block’ to the ‘chain’ which is managed by a blockchain protocol that initiates, validates, records and distributes information.
  • Cryptology maintains the integrity of the system instead of third-party intermediaries.

Taking advantage of the benefits of blockchain technology, we’re facilitating educational institutions and employers to share and verify an individual’s credentials or transcripts with a single click.

“On the CredSure platform, institutes can issue blockchain-powered certificates directly into an individual’s profile or Certificate Wallet. So, there’s no room for manipulation between the point of the certificate being issued and it being visible to recruiters,” said Tim Miller, Co-Founder of CredSure.

Setting new standards of trust, transparency and efficiency, CredSure is empowering skilled professionals across the globe with equal opportunities in the Schedule a demo and explore possibilities with CredSure