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The words AI, machine learning, blockchain etc are used ad
nauseum nowadays. Ever wondered as to what exactly is blockchain and how is it
useful?

Well blockchain is a distributed, digital ledger of
transactions. It’s a network of computers that securely logs every transaction
done in the chain, prevents any meddling with the logs and enables
organizations to verify the transactions that take place. It is quite secure.

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So, how does blockchain execute this? Every block is attached
together at a batch of the transaction which is timestamped. This is then
incorporated in the blockchain. Every block has been assigned a signature. And,
all these blocks are back-linked, i.e., they refer to the signature of a
previous block in the chain, and that chain can be tracked all way back to the
very first block.  This way blockchain captures
record of all the transactions executed. This record is cannot be edited.

Let’s now cast a look on the main feature of blockchain: The blockchain is a distributed database
which means that the database is present in multiple copies across various
computers. These computers create a peer-to-peer network or a P2P network. It means
that there is no one centralized server and the blockchain database is put up
across a decentralized machine network wherein each computer works as a node on
that network.

Now, the data regarding all new transactions must be sent to
all the nodes on the networks. This helps to keep the blockchain in sync like one ‘worldwide ledger’ instead of
numerous ledgers.

This implies that for updating the blockchain, these multiple
copies should be coordinated so that they all have the same version. New blocks
are developed by the process termed as “mining”
that verifies the new transactions and adds these into the chain.

So how is blockchain applicable to and beneficial for
e-learning?

E-learning primarily deals with teaching, learning and
verifying of new skills. These skills are presented by organization as digital
certificates or badges to the learners which are then accepted by third party
i.e employers and educational institutions. The entire ecosystem rests on
verifiability and trust. If a prospective employer does not believe the digital
certificates to be genuine it raises a question mark on the learner’s
credibility.

Enters blockchain. Once a credential is recorded to the
blockchain, it can’t be altered or faked. If someone attempts to create a fake
credential that looks like an issued credential, it won’t verify against the
existing blockchain record.

This means no more fake credentials. Blockchain shall help verify
the credentials of learners in e-learning.

The blockchain technology can also be utilized both for
personal development and managing the educational cost. If the learning market
is decentralized, the blockchain may be utilized to make an autonomous
educational exchange method. For this to happen, smart contracts need to be developed for giving the backbone of the
exchange.

Accordingly, if we begin thinking of learning and development
as an educational currency, we can start to make more proper modes of
communication with the learners. For instance, an instructor or trainer can
develop inspirational learning chunks and position these as blocks on the
blockchain through mining-like mechanism which would be discovered and expanded
by the learners. 

Following are some of the other ways blockchain technology
is and will bring a change in learning and development:

Broadcasting
scholastic achievements of the students on a public ledger – The learning
history and scholastic achievements of the students can be saved on a
blockchain ledger by using smart contracts. The history of the educational and
personal development of students can be available on the public ledger.

Reducing the learning
costs through P2P (Peer-to-peer) learning networks – The blockchain can be
used as a way of P2P data exchange
medium which rewards students who share information and contribute towards
their education and development institution.

This platform uses advanced EdTech to offer high-quality
video and audio, whiteboards, lesson scheduling and interactive learning tools.

Edtech shall grow
massively in the coming years – Robotics, automation and AI are all having
a dramatic effect on the jobs market. There’s no such thing as a safe career
anymore. To survive, people have to learn new skills and develop existing ones
constantly.

EdTech cryptocurrency
tokens are a safe and strong investment – Bitcoin is rising steadily. As
people begin to trust cryptocurrency, its applications will grow. For example, NTOK.io
uses ‘Ninja Tokens’ as a cryptocurrency that can be exchanged for tutoring
services.

EdTech will create
strong brands and reputations – All the signals suggest that EdTech powered
by blockchain is a sector of the online global economy that will expand without
limit. Behind this growth, there will be companies and brands that build a
trustworthy reputation and loyal following.

All of this means it’s a great time to invest in blockchain
technology if you can.

Schools, colleges and universities are increasingly looking
towards the tech industries for help in delivering training to fill these skill
gaps.

In conclusion, applying the blockchain technology in online
learning and development and distance learning, educational process can be
improved with cost efficiency.

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