The words AI, machine learning, blockchain etc are used adnauseum nowadays. Ever wondered as to what exactly is blockchain and how is ituseful?Well blockchain is a distributed, digital ledger of transactions.It’s a network of computers that securely logs every transaction done in thechain, prevents any meddling with the logs and enables organizations to verifythe transactions that take place.
It is quite secure.So, how does blockchain execute this? Every block is attachedtogether at a batch of the transaction which is timestamped. This is thenincorporated in the blockchain. Every block has been assigned a signature. And,all these blocks are linked backwards in a sequence to the signature of aprevious block in the chain; if we keep going backwards we can reach the veryfirst block. This way blockchain capturesrecord of all the transactions executed. This record is cannot be edited.
Let’s now cast a look on the main feature of blockchain: The blockchain is a distributed databasewhich means that the database is present in multiple copies across variouscomputers. These computers create a peer-to-peer network or a P2P network. It simplymeans that there is no one centralized server for the blockchain and itsdatabase is put up across a decentralized network of machines wherein each computerworks as a node on that network.Now, the data regarding all new transactions must be sent toall the nodes on the networks. This helps to keep the blockchain in sync like one ‘worldwide ledger’ instead ofnumerous ledgers.This means that to update the blockchain, these multiplecopies should be coordinated in such a manner that they all have the sameversion.
New blocks are developed by the process called as ‘mining’ that verifies the new transactions and adds these into thechain.So how is blockchain applicable to and beneficial fore-learning?E-learning primarily deals with teaching, learning andverifying of new skills. These skills are presented by e-learning organizationas digital certificates or badges to the students which are then accepted bythe employers and educational institutions.
The entire ecosystem works on verifiability.If a prospective employer does not believe the digital certificates to begenuine it raises a question mark on the learner’s credibility. Once a credential is recorded to the blockchain, it becomesprotected and uneditable. If someone tries to create a fake credential thatlooks like a genuine one, it won’t get verified against the existing blockchainrecord.
This means no more fake credentials. Blockchain shall help verifythe credentials of learners in e-learning.The blockchain technology can also be utilized both forpersonal development and managing the educational cost. If the learning marketis decentralized, the blockchain may be utilized to make an autonomouseducational exchange.
For this to happen, smartcontracts need to be developed for giving the backbone of the exchange. Accordingly, if we consider learning and development as aneducational currency, we can start to make more proper modes of communicationwith the learners. For instance, an instructor or trainer can developinspirational learning chunks and position these as blocks on the blockchainthrough mining-like mechanism which would be discovered and expanded by thelearners. Following are some of the other ways blockchain technologyis and will bring a change in learning and development:Making educationalachievements of the students available on a public platform – The learninghistory and educational achievements of the students can be saved on ablockchain platform by using smart contracts. Reducing the learningcosts through P2P learning networks – The blockchain can be used as a platformfor P2P data exchange medium which studentscan contribute and share information.This platform uses advanced EdTech (EducationTechnology) tooffer high-quality audio-visuals, whiteboards, lesson scheduling andinteractive learning tools.Edtech shall grow hugelyin the coming years – Robotics, automation and AI are all having a greateffect on the job market. There’s nothing called as a safe career anymore.
Tosurvive, people have to keep upgrading their skills to stay relevant in theadvancing technological regime.EdTech cryptocurrencytokens are a safe investment – Bitcoin is rising steadily. As people begin totrust cryptocurrency, its applications will grow. For example, NTOK.iouses ‘Ninja Tokens’ as a cryptocurrency that can be exchanged for tutoringservices.EdTech will createstrong brands and reputations – EdTech powered by blockchain is a sector ofthe online global economy that will grow exponentially in times to come.
Behindthis growth, there will be companies and brands that build a trustworthyreputation and a loyal following.All of this means it’s a great time to invest in blockchaintechnology if you can.Schools, colleges and universities are increasingly lookingtowards the tech industries for help in delivering training to fill these skillgaps.In conclusion, applying the blockchain technology in onlinelearning and development and distance learning, educational process can beimproved with cost efficiency.