How Blockchain Technology Expands The Education Frontiers
21 May 2022 - 8:09PM
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From digital tokens to play-to-earn games, blockchain technology
has disrupted several industries. Today, it is entering the
education sector. From cross-border payments to synthetic assets,
distributed blockchain ledgers and their tokenization utilities
have created powerful financial products that are globally
accessible. While blockchain is democratizing finance, its
usability doesn’t have to be limited to cryptocurrencies. Another
industry that carries equal weightage as finance and needs an
immediate restructuring is education. The current system doesn’t
cater to all students equitably. Some have more access to
higher-level education, while others struggle to get the bare
minimum, which was primarily observed during the pandemic. So to
make sure such disparity never occurs again and all learners have
access to top-notch education, there has to be a solution
fundamentally changing the education system from the inside out,
and many believe blockchain technology powering the metaverse is
the way to go. Blockchains Can Make Structural Changes to Education
The distributed ledger technology can significantly impact how
teachers and students interact and how academic documentation is
done. Educators can program lessons and curriculums onto a
blockchain by leveraging smart contracts. Furthermore, smart
contracts can distribute academic credits to students upon
completing all course modules. Aside from automation, blockchains
excel at rights management and privacy protection. As a result,
researchers attempting to publish their papers can retain full
ownership of their work while avoiding traditional publication
procedures. For educational institutions, blockchains reduce the
burden of file storage and document verification. Currently, most
institutions use centralized cloud servers to store student data,
making them vulnerable to single-point failures. To overcome this,
institutions need decentralized file storage systems. They ensure
data is secure and that no third party can alter student records.
Moreover, it costs considerably less compared to cloud storage.
Education Meets Metaverse For Immersive Learning Experiences While
blockchains vastly improve the efficiency and security of business
and academic processes within education systems, it alone doesn’t
address the main problem: student engagement. Since the pandemic,
the new normal for students has been online learning. Although
online tools have made education more accessible, they still lack
the ability to provide immersive learning experiences. This is
where metaverses step up to the plate. Blockchain-powered
metaverses can transform online learning environments into virtual
spaces with enhanced social interaction and gamified learning
techniques. While education in the metaverse is a fairly new
concept, there are projects like Edverse making headway. Edverse is
creating the most immersive and insightful education metaverse on
blockchain by bringing teachers, learners, promoters, creators, and
institutions together. Edverse also values gamified learning. They
are introducing tokens and NFTs to incentivize all stakeholders for
their contribution and participation. Similar to play-to-earn,
Edverse incorporates learn-to-earn and wear-to-earn incentive
models. Educators can transform their learning modules into NFTs
and sell/rent them on an open marketplace. And when learners
complete these modules, they earn experience points which can be
redeemed for $EDV tokens. Edverse is also suited for educational
institutions or promoters. They can buy, create, and rent
co-learning spaces to launch new custom courses and advertise on a
global stage. In addition to gamification, Edverse is raising the
bar for global learning standards. It covers learning journeys from
Kindergarten to Class 12, with a focus on skill empowerment,
physical strengthening, and ancient sciences. New Education
Revolution Around the Corner? Education is one of the largest
industries in the world that is untapped technology-wise. Many
online platforms and tools are improving the medium of learning at
scale, but the experience remains old-school. The use of
blockchains can structurally change the way education is available
to students and eliminate the issues in academic documentation and
evaluation. Metaverses with blockchain solutions and advancements
in VR/AR are needed to make that next jump in the digital-first
world for the education sector. With increasing awareness and
widespread acceptance, it is not too far stretched to see
institutions and learners adopt blockchain in some capacity in the
near future.
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