Ayaana Jones
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Blockchain hits the educational system. A deep scrutiny!
Technically, Blockchain is a decentralized ledger where data is spread across many computers with no central control. This could transform governance, the economy, businesses, and the functioning of industries.
 
Now the blockchain technology is already here, not only for Bitcoin but offering many other services and solutions.
 
First, let us look at some challenges in the field of education. Students who opt for higher education at universities have to pay huge amounts of money and have become quite expensive. And sometimes, records and certificates get lost. Some candidates provide
tampered or fraud certificates. 
 
It has become mandatory to look for secure and tamper-proof options in education as is already practiced in financial transactions. Definitely, blockchains are set to boost the evolution in the education sector.
 
 
Records Maintenance:

 
  • Educational institutions track students’ records for verification and other purposes. This can be simplified by record tracking processes through distributed ledgers. 
     
  • Blockchain offers simple and easy access to students’ records. The credentials can be easily verified by nodes on the network for authentication.
     
  • It reduces manpower and saves time for cross verification

 
Digitization of certificates and records
 
  • Blockchain allows students to completely access all certificates through digitization.

  • This allows educational institutions to validate and verify certificates, diplomas, and other credentials.

 
Secured storage:


  • It is necessary for students to download, store, and utilize study materials from centralized storage such as hard drives or cloud storage. 
     
  • So blockchain offers decentralized solutions for student’s problems. Such as storage of study materials, eliminating regional limit access, and more.  

Final verdict: 
 
Finally, blockchain technology will give people the best chance of determining their
education path and a successful future career. 
Blockchain Application in Enterprises
Blockchain has stayed in the limelight longer than most tech experts initially believed. Despite its incredible reception and infancy in the business realm, most individuals are still in the dark about its potential to enhance businesses. The Bitcoin explosion in 2017 brought the concept of cryptocurrencies and Blockchain to the forefront for many
individuals looking to invest. With it came the new trend of adopting Blockchain in industries.  It also piqued businesses’ interest with experiments on how companies can utilize this technology.
 
What is Blockchain?
 
A blockchain is a decentralized record-keeping technology. Blockchains are made up of several ledgers that are publicly distributed and serially connected, forming a chain. Blockchains possess nodes, individual entities that have a separate copy of the chain of records. The nodes verify every record of information added. Based on a consensus mechanism, they are added to the ledgers. 
 
Blockchain application in Enterprises:
 
Although blockchain technology has been around for many years, businesses are still figuring out the best scenarios to adopt them into their operations. As use-cases develop and evolve with business needs, the potential uses for Blockchain also expand and grows. Smart contract automation, sharing sensitive patient healthcare information, ensuring transparent background checks, and course, financial services.
 
Smart Contracts:
 
Blockchains for enterprises ensure automation via smart contracts. Businesses can utilize physical agreements such as financial transactions, insurance claims, employment contracts, mortgage agreements, and even protected copyright materials in smart contracts.
 
The design and implementation of smart contracts within blockchains allow them to inherit blockchain merits as: 

  • Immutability of data ensures digital security and fraud prevention. This also leads to precision in processing. 
     
  • Shared ownership leads to a unanimous consensus to change the outcome. Thus every condition must be complied with to validate any new record. 
     
  • They remove the need for a third-party intermediary and allow for direct, transparent transactions to take place.
     
  • All smart contract transactions are stored in chronological order in the Blockchain and provide a complete audit trail.
     
  • Their efficiency and absence of intermediaries allows smart contracts to save organizations tons of money on infrastructure costs and could even reduce these expenses by over 30%.

 
Sharing Confidential Patient Information:
 
While eHealthcare Records (EHRs) help with accessing patient data, they also present the challenge of keeping data private and protected as they are both stored and shared. Healthcare institutions deal with patient medical records, complex billing cycles, medical research data, or pharmaceutical information.
 
Blockchain technology helps solve this issue as the decentralized ledger is secure with cryptographic encryption. Suppose all parties are involved in the payments and claims process, including patient, provider, and payer. In that case, they all see the same information simultaneously, providing a frictionless and more efficient method for all.
 
Simplified Background Checks:
 
Blockchain serves the Human Resources industry best with its superior traceability features. An HR’s primary responsibility is to validate the employee’s credentials match their resume or what they represent. The HR department would contact every reference and previous company to verify the candidate’s employment history. Blockchain proves essential as they simplify time-consuming processes verifying employment dates, designations, key responsibilities, and all other relevant credentials via automation.  
 
Enterprises Finance Services:
 
Most banking & payment systems are following a centralized theme of management. Thus, financial services are expensive and often lack flexibility for the customers, such as small & medium-sized enterprises.  Blockchain allows for the global reach of any
financial services offered/availed by small-scale enterprises. Blockchain enables all enterprises to tap into the market worldwide. The elimination of fees to transfer funds makes a big difference, especially with international transactions.
 
Conclusion:
 
Regardless of which one of the applications is used in an enterprise, businesses’ advantages are hard to deny. Companies are looking to deploy all the elements of the Blockchain to augment their processes. Despite differing opinions, we can be sure of one thing: Enterprise Blockchain Development is an effective solution. The N2 Group offers
exceptional enterprise blockchain development services for your business blockchain needs.
Three Major Benefits in the Education Sector by Blockchain
New-age technologies are revamping conventional structures of education.  The most impactful one of them all is Blockchain. It implements real-time decentralization of education, allowing transparency and knowledge security to remain at its core. 
 
The true potential of blockchain-based education will enable students worldwide to avail quality education in a streamlined manner. Managements can effectively utilize blockchain technology to optimize tuition processes to eliminate the existing hurdles. 
 
In this article, let us learn how blockchain benefits students in three significant ways. 
 
  1. Offers Student eProfile:
Student credentials are a crucial part of education. They determine the students’ merits and help identify them among their peers. Student identity management has become a
growing concern due to the sheer number of the population pursuing education
across the globe. 
 
Blockchain offers superior identity management solutions via decentralization. Distributed ledgers can store immense records of student information and maintain them with little to no effort.  Reviewers can quickly identify the students’ achievements, grades, performance, and skills and track them on the blockchain. Further, it offers a model that allows secure and seamless sharing of the student’s competency pointers. These pointers will include badges, certificates, letters of recommendations, citations, and other details that add to a student’s credentials.

2.  Saves Expenses on Course material:
 
Educational institutions spend the majority of their funds on offering study materials and resources to their students. Tutors and professors practice outdated traditions and rely on
conventional systems for the management of student affairs. The use of such systems is taxing and demand educational bodies to shell out more.
 
Blockchains can allow students to access their educational resources such as lecture materials, eBooks, videos, and quizzes easily via accessing the distributed ledgers. Any
member of the blockchain can access data stored in decentralized ledgers. Data
sharing can be performed without any charges as blockchain enables peer-to-peer
sharing, allowing students to share their work. Authors can directly sell the
books to students, thus eliminating any intermediary. 
 
3.  Copyright Security & Patenting:
 
Student thesis is often prone to deceitful claims by others. Thus universities struggle to identify the ownership of documents and ideas. Furthermore, the lack of any real-time
systems to track patents also contributes to the inefficiencies that exist in educational
institutions.
 
Blockchain offers unparalleled security for patents and copyright ownership. Nodes across the blockchain can validate and verify the ownership of thesis documents to prevent fraud and theft of intellectual property. Due to the decentralized nature,
blockchain allows participants to upload their data and secure them via cryptography. Offering complete control and security to student documents, Blockchain serves to develop, share, and control intellectual property. 
 
Conclusion:
 
Thus we have realized the three significant benefits blockchain bestows upon the educational sector. These benefits are derived from the core mature of blockchain technology and its attributes that help reform the conventional challenges that deter quality education and weaken the management of said institutions.
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    Writer, founder, passionate entrepreneur + I'm on a mission to build businesses
  • John Marshal
    @john
    Writer, founder, passionate entrepreneur + I'm on a mission to build businesses
  • John Marshal
    @john
    Writer, founder, passionate entrepreneur + I'm on a mission to build businesses
  • John Marshal
    @john
    Writer, founder, passionate entrepreneur + I'm on a mission to build businesses
  • John Marshal
    @john
    Writer, founder, passionate entrepreneur + I'm on a mission to build businesses
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