BLOCKCHAIN UTILIZATION IN THE EDUCATION SECTOR: PROSPECTS AND CHALLENGES

Abstract

Blockchain technology has been attracting attention as a potential solution to address many issues associated with traditional data management systems. The education sector is also exploring its potential to include improving various aspects of education. One of the opportunities of blockchain technology in education is secure and tamper-proof digital record-keeping, which can eliminate the need for physical certificates and transcripts, making the credentialing process more efficient, accurate, and transparent. Blockchain can facilitate micro-credentialing for lifelong learning, creating new opportunities for individuals to acquire and verify specific skills or knowledge. Additionally, transparent and secure funding and donations can be established using blockchain technology, which will help to eliminate fraud and ensure that donations are used for their intended purpose. However, there are also significant challenges that need to be addressed to make Blockchain a reality in education. These include concerns around the scalability and interoperability of blockchain networks, the need for standards and regulations to ensure the reliability and accuracy of data, and the potential costs and technical expertise required to implement and maintain blockchain systems. In addition, digital literacy and data privacy concerns need to be addressed to ensure that students, teachers, and other stakeholders are equipped to use blockchain technology effectively and responsibly. While the opportunities and challenges of Blockchain in education are significant, careful consideration and collaboration are needed to fully realise its potential. Thus, this paper provides the reader with a solid background about Blockchain and delves into its opportunities and challenges to be utilised in education.