The This way blockchain captures record of all

The words AI, machine learning, blockchain etc are used ad
nauseum nowadays. Ever wondered as to what exactly is blockchain and how is it
useful?

Well blockchain is a distributed, digital ledger of transactions.
It’s a network of computers that securely logs every transaction done in the
chain, prevents any meddling with the logs and enables organizations to verify
the transactions that take place. It is quite secure.

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So, how does blockchain execute this? Every block is attached
together at a batch of the transaction which is timestamped. This is then
incorporated in the blockchain. Every block has been assigned a signature. And,
all these blocks are linked backwards in a sequence to the signature of a
previous block in the chain; if we keep going backwards we can reach the very
first block.  This way blockchain captures
record 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 database
which means that the database is present in multiple copies across various
computers. These computers create a peer-to-peer network or a P2P network. It simply
means that there is no one centralized server for the blockchain and its
database is put up across a decentralized network of machines wherein each computer
works as a node on that network.

Now, the data regarding all new transactions must be sent to
all the nodes on the networks. This helps to keep the blockchain in sync like one ‘worldwide ledger’ instead of
numerous ledgers.

This means that to update the blockchain, these multiple
copies should be coordinated in such a manner that they all have the same
version. New blocks are developed by the process called as ‘mining’ that verifies the new transactions and adds these into the
chain.

So how is blockchain applicable to and beneficial for
e-learning?

E-learning primarily deals with teaching, learning and
verifying of new skills. These skills are presented by e-learning organization
as digital certificates or badges to the students which are then accepted by
the employers and educational institutions. The entire ecosystem works on verifiability.
If a prospective employer does not believe the digital certificates to be
genuine it raises a question mark on the learner’s credibility.

Once a credential is recorded to the blockchain, it becomes
protected and uneditable. If someone tries to create a fake credential that
looks like a genuine one, it won’t get verified against the existing blockchain
record.

This means no more fake credentials. Blockchain shall help verify
the credentials of learners in e-learning.

The blockchain technology can also be utilized both for
personal development and managing the educational cost. If the learning market
is decentralized, the blockchain may be utilized to make an autonomous
educational exchange. For this to happen, smart
contracts need to be developed for giving the backbone of the exchange.

Accordingly, if we consider learning and development as an
educational currency, we can start to make more proper modes of communication
with the learners. For instance, an instructor or trainer can develop
inspirational learning chunks and position these as blocks on the blockchain
through mining-like mechanism which would be discovered and expanded by the
learners. 

Following are some of the other ways blockchain technology
is and will bring a change in learning and development:

Making educational
achievements of the students available on a public platform – The learning
history and educational achievements of the students can be saved on a
blockchain platform by using smart contracts.

Reducing the learning
costs through P2P learning networks – The blockchain can be used as a platform
for P2P data exchange medium which students
can contribute and share information.

This platform uses advanced EdTech (EducationTechnology) to
offer high-quality audio-visuals, whiteboards, lesson scheduling and
interactive learning tools.

Edtech shall grow hugely
in the coming years – Robotics, automation and AI are all having a great
effect on the job market. There’s nothing called as a safe career anymore. To
survive, people have to keep upgrading their skills to stay relevant in the
advancing technological regime.

EdTech cryptocurrency
tokens are a safe investment – Bitcoin is rising steadily. As people begin to
trust cryptocurrency, its applications will grow. For example, NTOK.io
uses ‘Ninja Tokens’ as a cryptocurrency that can be exchanged for tutoring
services.

EdTech will create
strong brands and reputations – EdTech powered by blockchain is a sector of
the online global economy that will grow exponentially in times to come. Behind
this growth, there will be companies and brands that build a trustworthy
reputation and a loyal following.

All of this means it’s a great time to invest in blockchain
technology if you can.

Schools, colleges and universities are increasingly looking
towards the tech industries for help in delivering training to fill these skill
gaps.

In conclusion, applying the blockchain technology in online
learning and development and distance learning, educational process can be
improved with cost efficiency.