This study explores the applications and implications of blockchain technology in the Australian higher education system, focusing on its integration with artificial intelligence (AI). By addressing critical challenges in credential verification, administrative efficiency, and academic integrity, this integration aims to enhance the global competitiveness of Australian higher education institutions. A comprehensive review of 25 recent research papers quantifies the benefits, challenges, and prospects of blockchain adoption in educational settings. Our findings reveal that 52% of the reviewed papers focus on systematic reviews, 28% focus on application-based studies, and 20% combine both approaches. The keyword analysis identified 287 total words, with “blockchain” and “education” as the most prominent themes. This study highlights blockchain’s potential to improve credential management, academic integrity, administrative efficiency, and funding mechanisms in education. However, challenges such as technical implementation (24%), regulatory compliance (32%), environmental concerns (28%), and data security risks (40%) must be addressed to achieve widespread adoption. This study also discusses critical prerequisites for successful blockchain integration, including infrastructure development, staff training, regulatory harmonisation, and the incorporation of AI for personalised learning. Our research concludes that blockchain, when strategically implemented and combined with AI, has the potential to transform the Australian higher education system, significantly enhancing its integrity, efficiency, and global competitiveness.