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How will Blockchain Education Impact the Future of Cryptographic Industries?

VerifiedCryptoTraders – Crypto Traders telegram : Schools and Universities have an enormous Impact on Future Industries, by more than just educating. Schools have the ability to shape an induvial mind, not just for the individual but as a whole.

Education

Education all over the world is continuously evolving and changing. Though it’s not directly connected with schools and universities, it is becoming clear that most of the curriculum provided by many educational institutions is missing out on new technologies.

Blockchain

Part of the problem is that new technologies require new experts in that field to teach them. On top of that the rate of technological changes and advancements happening in the world multiplying at a rate human have never experienced before.

Whether it’s programming, blockchain, hardware, cryptocurrency, or software, it’s apparent that many students aren’t being educated to enable industries to make an exponential leap. For a successful career in blockchain it must be taught by the best, but finding the best is proving to be difficult.

The rise of blockchain and cryptocurrencies is now changing this, as many organizations are offering courses in these technologies. This has led to academic institutions all over the world picking up on the trend, with many of them incorporating blockchain and cryptocurrency in their curriculum and business operations.

The rise of Blockchain in academia

Due to increasing demand from students and professors, 42% of the top 50 universities in the world are now offering students at least one blockchain or cryptocurrency course, like the social effect of cryptocurrencies and blockchain decentralized application.

This number is going to increase, with Stanford leading at ten courses and students asking for more.

Bitcoin investing

Universities

By doing this, universities are setting up their students for success in a rapidly advancing sector. Many students in these universities are aware of the importance of cryptocurrencies in today’s world, where some of them have tried trading or investing in them in the past.

Schools are now beginning to establish a groundwork so that the students can understand what’s really happening under the hood, they can understand both the legal and the business implications and prepare them to go out and tackle this new market.

The impact of this movement is far-reaching, with courses on subjects like blockchain law becoming increasingly popular too. Students knowledgeable on topics like blockchain law and legislation have a clear idea when choosing a career path, as many law firms are looking for these types of specialists.

Due to this area not being popular in many universities, students graduating with this specialization will find it easy to find and secure a job.

Initial Coin Offering

The ICO (Initial Coin Offering) market is increasing in popularity and continuously changing, demanding lawyers with this kind of education and knowledge, especially with the complexity of legal requirements related to blockchain and cryptocurrency.

The process of Blockchain and cryptocurrency learning isn’t restricted to classrooms only. Many universities have started creating R&D labs on campuses worldwide.

Many of today’s blockchain-related applications and programs were designed and released from these research labs. MIT led this in 2015, by starting it’s Media Lab’s Digital Currency Initiative.

This program aimed to bring together the best independent developments so they can teach MIT’s students how to enhance blockchain technology. The program resulted in the creation of applications like Lightning Network as well.

The program’s open nature combined with MIT’s resources is helping to change a mostly theoretical space into real life experiences.

Blockchain Research Around the Globe

MIT isn’t alone; in fact, more university-backed research and development labs are being built and making actual progress. In London, UCL started a Centre for Blockchain Technology and currently has over 100 research partners worldwide, with many more applying to become part of the program.

Supported by IOHK (the company behind Cardano), Edinburgh University began its Blockchain Lab with the main focus of solving the industries’ weaknesses and finding a practical solution for them, using strategies developed mainly by students and supervising academic faculty.

Director of the project Aggelos Kiayias explains “the focus so far has been on the design of distributed ledgers protocols, their security, scalability, sustainability, performance, interoperability, and economics.” The lab is soon going to partner with other departments in Edinburgh University like the faculty of business, architecture, and even political science.

As curriculum’s are now introducing subjects beyond individual creativity and development, the natural direction is to look for solutions to real-world issues.

Blockchain is going to be an essential conversation topic when looking for answers for enhancing financial securities in places that are troubled with political instability and creating decentralized ecosystem governance models that are becoming a bit too centralized.

It isn’t only educational sectors, Blockchain and cryptocurrencies are transforming different industries from supply chain to healthcare.

Assessing the impact of blockchain in these sectors will be imperative and will help governments stay updated with current trends in global financial markets.

It is apparent that academia has a significant place in the blockchain sectors, and educational institutions are jumping at the chance to explore the possibilities.

As the industry continuously grows and increase in popularity, the number of students asking for education related to it will increase as well. Also, an increasing amount of universities are already growing their offering.

Universities

Research conducted by Coinbase and survey company Qriously demonstrated that 675 top universities had the overwhelming demand for adoption of courses related to the cryptocurrency sector. Most of these courses were listed under economics, finance, and business faculties.

US universities were the most popular option when looking for blockchain courses, with Stanford and Cornell universities at the top. The University of Pennsylvania was on top as well, by providing students with six classes related to cryptocurrency.

Coinbase research findings demonstrated that students from different majors had a significant interest in taking a blockchain based course, with more universities finding new methods to incorporate this into their curriculum.

Many educational institutions have even set up individual courses related to blockchain and cryptocurrency so that students can focus on them only.

Many companies are now sponsoring research and development labs as well, and this is an essential step for innovation and creativity and a trend that will continue in the future. It is going to be interesting to see all the new advancements made in these labs.

Incorporating blockchain in educational systems will help in verifying credential and past work experiences as well, something many universities and schools find difficult.

Many professors and teachers embellish their past experiences so they can get a job, invading academic spaces, and not teaching students effectively.

Blockchain will provide a simple to use an encrypted way of making sure the person applying for the job is qualified and experienced enough for the position. Not to mention, make sure that what the person is saying is true.

As blockchain technology are immutable ledgers, it is going to be difficult for teachers to lie about their experiences because employers can easily authenticate what they’re claiming.

Blockchain also leaves a visible link that saves teachers’ skills. This link will improve the overall level of education that students receive and ensure the credibility of educational institutions.

Blockchain can also have environmental benefits in educational institutions, like eliminating the use of paper for example. Blockchain can permanently and safely store all information, issues credible certificates, transfer date, and stay updated with students’ learning achievements.

Not only does this have environmental advantages, but it will also help universities and schools reduce costs related to buying the paper every year.

The next five years

Blockchain and cryptocurrency will have more impact on educational institutions in the next five years. Blockchain is a ledger that effectively and instantly saves and verifies any transaction that takes place.

The distributed ledger technology (DLT) is responsible for powering Bitcoin, Ethereum, and other types of virtual cryptocurrency and will contribute to shaping education in the future.

Blockchain will affect the way transcripts are recognized. Academic credentials have to be universally verifiable whether it’s in middle school or university. Verifying academic credentials is still considered to be a manual and challenging process, especially on paper documentation and having to check every case individually.

DLT solutions can streamline verification strategies and decrease fraudulent claims of educational credits. MIT Media Lab has partnered with MIT Lab to create Blockcerts, which offers an open infrastructure for issuing and verifying certificates.

Matt Pittinsky, Parchment’s CEO, explained that there is more that blockchain can do when it comes to transcripts. For example, blockchain can save locations to systems that store records, balancing portability, continuance, and flexibility.

Specific skill assertions can be confirmed and communicated using a digital badge. Students will be able to assemble digital badges into one open badge wallet that students will be able to share with future employers.

Indorse is one of the companies already using blockchain to confirm e-portfolios. Applications upload their experiences and certifications by utilizing a verification link that the company then uses to verify applicants’ credibility.

Sony & IBM

Sony global education collaborated with IBM to create an educational platform that incorporates blockchain to share and save student records. However, keeping a student’s file on a ledger can prove to be computationally intensive to some extent and, because of this, prohibitively costly.

With the continuous growth of learning applications, services, and products, identity management is becoming a significant issue in education. Platforms such as Blockstack help users save their identity around the internet.

Users will also be able to access applications and services on decentralized networks and have information portability.

Infrastructure security is another critical aspect. Most educational institutions, if not all, are stepping their security up by adding security systems to protect their networks from hackers.

Xage is a company that incorporates blockchain’s ledgers to save and shares security information across networks. The application allows students and teachers to send and save information without worrying about it getting hacked.

Blockchain can introduce new choices into the rideshare world. With a distributed ledgers, riders can create a user-driven marketplace, one with value. An example of this would be Arcade City, which enables drivers to develop their rates using blockchain.

Arcade city is currently used by professional drivers, who aim to create their businesses instead of being controlled by a corporate world.

The application can be incorporated in educational institutions as well. Schools and universities can negotiate with drivers from Arcade City, for example, to service pupils transportation features, like special needs or isolated students.

Blockchains can assist retailers in providing safe gift cards and different loyalty programs without the need for a middleman, something that has already been happening to some extent.

Let’s take Gyft for example, an online company for redeeming, sending, and purchasing gift cards, using an infrastructure provider and prepaid cards.

Educational institutions and families can use prepaid cards for learning experiences, outside and inside schools. Prepaid cards can also use blockchain to enhance the transportation process.

Contracts

Blockchain and cryptocurrency contracts, also known as smart contracts to execute agreements when certain conditions are fulfilled. They can decrease paperwork in various sectors, especially in education.

Woolf University, created by professors at Oxford University, will incorporate DLT to execute contracts. Academic faculty and student ‘’check-ins” are essential to implementing several smart agreements that confirm attendance and the completion of an assignment.

The check-in process can be as easy as clicking a button on the phone application, and it can execute smart contracts by paying teachers and offering micro-credits and data to students.

Blockchain can facilitate different types of distributed learning and education curriculum. An institution can fund the accounts of students by using smart contracts.

Smart contracts will then release it when specific criteria are fulfilled. However, there is policy and regulations to figure out in the future like terms and conditions and suitable providers.

These are essential aspects that educational institutions need to figure out before incorporating them into their curriculum.

Concerning retail, blockchain can safely connect buyers with sellers in different marketplaces. An example of this would be OpenBazaar, a company that incorporates an open-source network that connects sellers with potential buyers without the need for a middleman.

Customers buying goods using any of the fifty cryptocurrencies available will be paid using Bitcoin. DLT can be used to further power school stores and different types of businesses. In many situations, an international network can be attractive, but this can also limit the range of a school economy.

This network is something that educational institutions will need to accurately assess before incorporating it into their curriculum.

When it comes to charity, blockchain offers the ability to effectively track donations and, in some situation, the impact of the contributions.

GiveTrack is blockchain-based donation company that provides the ability to donate, transfer, and monitor the number of charitable transactions all over the world.

This system will significantly benefit donor to educational institutions and the NGOs they work with, because they’ll find the level of transparency attractive, encouraging them to donate more.

Blockchain and cryptocurrencies can have an impact on governance; the way smart contracts and transactions are applied in educational institutions. This will result in business accounting becoming more transparent and credible.

The Boardroom application offers a governance framework and application. As a result, businesses will be able to manage transactions and smart contracts efficiently.

The app also provides an administration system for companies to ensure operations are implemented based on rules encoded on the cryptocurrency and blockchain. Companies will be able to update these regulations themselves as well.

This framework can be applied in educational institutions as well. For example, boards of universities can use the application during shareholder voting and cooperative proposal management.

Regarding libraries, blockchain can help libraries in expanding their products and services by building an improved metadata archive, creating a protocol for community-based books, and facilitating the management and control of digital rights.

Protocol

This protocol will also ease the process of borrowing and returning books for students and academic faculty. San Jose State’s School of Information is currently working on a year-long project to explore the possibility of incorporating blockchain technology in educational information services.

Blockchain can also have multiple uses in the publishing industry, including managing piracy and rights management. New platforms are now starting to level the field for academic writers, encouraging partnership among authors, publishers, and even editors. NGOs, academic faculty, and even students may take advantage of the benefits of more publishing choices.

Authorship is a company that enables writers to publish their writing on the platforms, and readers can purchase the books using an Authorship Token (ATS). ATS is an Ethereum-based cryptocurrency, and this process enables writers to receive 90% of their royalties using ATS. Also, authors have complete rights to their work, so they can publish it elsewhere if they like.

Possibilities

The possibilities of blockchain and cryptocurrency in educational institutions are endless. Introducing cryptocurrency and blockchain courses in schools is a positive change in today’s educational curriculum.

Not only will this have a positive impact on students only, but on teachers, researchers, and different businesses working with academic institutions.

After all, schools have to be preparing students to adapt to future changes and development, not the past, and this is something that blockchain and cryptocurrency can help with in today’s constantly changing world.

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