Blockchain & NFT in Education

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Blockchain-Cryptocurrency-NFT in Education

Blockchain

A Blockchain is a chain of blocks that contain information. The data which is stored inside a block depends on the type of blockchain. For Example, A Bitcoin Block contains information about the Sender, Receiver, number of bitcoins to be transferred. The first block in the chain is called the Genesis block. Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.

A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.

By spreading its operations across a network of computers, blockchain allows data to operate without the need for a central authority. This not only reduces risk but also eliminates many of the processing and costs.

Cryptocurrency

Cryptocurrency is a currency and is fungible, meaning that it is interchangeable. For instance, if you hold one crypto token, say one Ethereum, the next Ethereum that you hold will also be of the same value.

NFT

NFT stands for non-fungible token. Non-fungible, means the value of one is not equal to another. Anything that can be converted into digital form is non-fungible.

Non-fungible tokens can digitally represent any asset, including online-only assets like digital artwork and real assets such as real estate. Other examples include in-game items like avatars, digital and non-digital collectibles, domain names, and event tickets.

Both NFTs and cryptocurrencies are based on blockchain, utilizing similar innovation and similar standards. NFTs can be considered a subset of the crypto, and by and large need cryptographic forms of money to trade NFTs.

How does blockchain technologies relate to education?

Here how can NFTs will impact and ultimately disrupt the education sector:

1. Sharing student artwork

Schools (and students themselves) now have the ability to sell their digital art as NFTs to a global audience that is eager to support new artists and content creators. Not only does this empower young content creators, but it can help them develop entrepreneurial skills and build and understanding of marketing, PR and cryptocurrency. It’s also worth bearing in mind that an NFT can take many forms, including.

2. Storing and sharing student records

Documents can be stored, and changes tracked with ease. Permanent student records can easily be transferred to different schools and viewed at any time by anyone that needs access. No more loss or information or waiting for data. It’s authentic, it’s there and it’s accessible with the help of blockchain technologies.

2. Results

Storing results are essential. Storing copies of exam results & degrees by examining bodies as blockchain will always be provable as the original & genuine. University degrees will be soon be deployed on chain.

2. Achievements

Storing other achievements by institutions or academic entities stored on blockchain will also prove as the original & genuine. Professionals can place their digital badges online and anyone viewing their profile can verify the authenticity of the provider.