Blockchain Will Change Higher Education For The Better

Blockchain will change higher education for the better since there is no doubt that Blockchain technology has the power to revolutionize the education sector as a whole.  Learning is all about pushing boundaries and exploring our personal potential. It should be available to all; no one should have to suffer mountains of debt and the uncertainty faced by many of those going through the traditional system.

Blockchain technology dismantles boundaries 

Blockchain technology can dismantle the barriers for all, creating a secure, transparent, and personalized experience for students to research and explore different paths. These paths will be  based on their individual values and interests along with providing the ability to work together with students, not just present in their own city but around the world on projects both large and small. 

Whilst there are many Ed-Tech businesses emerging providing solutions to traditional learning institutions, those who focus on enabling students to gain high quality education online, anytime and anywhere have the most potential and global reach. This means transparent pricing, secure cloud storage, and the ability to access certificates and degree records instantly anywhere.

Students now want to take charge of their education, paying for only what they need and nothing more.  Being able to take courses and tests anytime, anywhere without delay or restrictions based on timetables or commitment to any one awarding body or institution will be the way forward for many.  The one size fits all approach is dead. Or soon will be!

Blockchain will help shift traditional educational payments from centralized institutions to decentralized networks

Blockchain is shifting traditional educational payments from centralized institutions to decentralized networks. School financing through cards has come under fire in recent years, with the average student is paying more than $4,000 in annual fees for cards that don’t offer any financial benefit which means this sector is ripe for disruption.

There are fortunately various blockchain alternatives to student loan financing such as the Tokenized Income Share Agreements or (ISA) which would allow students to opt in and to set up a smart contract enforceable using the ERC-20 or other blockchain digital assets where they would pay a percentage of their future income back to the loan provider over an agreed period say ten or fifteen years.   

Blockchain is leveraging smart contracts as a way to combat the costs and fees of the traditional tuition payment model. Breaking away from the college tuition payment model in two ways; by eliminating inefficiencies/delays, and fees  between the middle-men by using smart contracts as escrow agents for merchants and tenants.

Instead of paying the institution, you can pay the person/teacher directly with a smart contract as an escrow to ensure that both parties are satisfied with the transaction.

Blockchain disruption to education benefits everyone

Whether it’s students or educators, the reduction of unnecessary administration,  inefficiencies, and cost of gaining access to top level education means more opportunities for educators to market to a wider, more diverse audience whilst seamlessly taking payments with less hassle. Great teachers can gain more recognition and increase their earning potential whilst providing transparent delivery objectives to the students.  

Students however have the most to gain through elimination of dealing with excess bureaucracy, reduced fees, more choice and flexibility, leading to a simpler, less-costly student lifestyle and hopefully better learning outcomes.  

We strongly believe the widespread adoption of blockchain technology across the education sector will increase its overall quality and relevance to students and indeed employers in the longer-term.  

Getting that blockchain education

Want to learn more about blockchain? Well, you have plenty of sources to choose from: we recommend checking out some of the free information and certified courses with the Blockchain council.

Many emerging companies who are adopting blockchain technology place far less weight on the traditional degree. Since degrees are slowly becoming less relevant which is being fueled by this space it is worth checking out for credible online courses if you are serious about getting a foot in the door, be it in a technical or non-technical capacity.

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