Decentralized Education

Education has become extremely expensive. Now, it’s seen as a common thing for students to take loans so that they can pursue higher education. Taking loans for education is awesome! But that has caused the total amount of student loan around the world to reach up to $1.3 trillion. That’s quite a lot! Reliable educational institutions also have a steep price. Plus, with paper-based educational contents, records, certificates, and other associated items make it difficult to manage these institutions effectively. On top of that, credentials and certificates can also be doctored easily. Hence, bodies that need the verification of certificates need to have a certain level of trust with the issuer.

Thankfully, technology has helped in some areas. With the EdTech industry having a bright future, innovative technologies and their benefits, like decentralization, can create new value.

Integrating Decentralization With Education


Interestingly, Google has also integrated a new technology course that doesn’t have any learning institution associated with it. With the ton of e-learning courses already been taken online in recent times, it’s safe to say that the process of decentralizing education has already begun. 

Additionally, blockchain-based learning will further help in decentralizing education by taking away the power from traditional educational institutions and government, bring about a lot of benefits.


Benefits of Decentralized Education


With platforms ensuring the decentralization of education, some of the benefits associated include:

  • Elimination of paperwork by storing all education-related contents and records securely. Plus, there’s also a consensus mechanism that makes this tamper-proof
  • Connecting instructors with students for live training sessions without a third-party. Each node in the database has equal authority
  • Reduction of cost due to the elimination of paperwork, as well as the reduction of data management cost using a secure distributed database
  • Mathematical verification of education credentials and certificates. Hence, prospective employers can authenticate the educational credentials of applicants without having to rely on the certificate issuer
  • Enabling contributors and instructors of educational content to get payments in the form of cryptocurrencies. With smart contracts governing the relationship between the consumers and service providers, terms and conditions are used to make sure funds are exchanged only when services have been delivered