I personally believe that the education industry is the only industry which is connected to almost each and every person on the earth and another magical thing about this industry is that the customers (students & parents) don't look at it as an investment that's why they won't think about the returns and the current situations and that's one of the reasons which kept the education system unchanged for a long time.
There are lots of areas in current education system which needs to be discussed and improved so the whole world can access the better & feasible education. As we've seen that the blockchain technology is bringing revolution in various sectors including asset tokenisation, supply chains, agriculture and many more. So here we'll discuss the issues in current education system and how the companies are using blockchain to solve them.
So let's dive in...
1) Affordable Education
Currently taking higher education or a better education costs a lot. According to the research, in UK university tuition fees costs ÂĢ10,000 and for US students it can be almost three times of that amount. Even if we consider just a tution fees excluding other college life academic and non academic expenditure which includes hostel fees and other daily expenses, it can be clearly seen that the higher education costs a lot !!
One company named ODEM using blockchain to resolve this problem to provide affordable education. The company is aiming to do this by cutting the middlemen who are responsible for this expensive education.
ODEM is an on demand education marketplace built over ethereum blockchain. The platform brings all students, educators and other service providers on the same page and allow them to create their own in person educational programs. This helps students to get education in more affordable manner and helps educators to be more visible to the students/parents and let them get real time feedback from them.
Official website : www.odem.io
2) Verified Records (Certificates, degrees)
According to one of the forecast that the e-learning market will worth about $325 billions. As the more demand for education has been grown more scammers are attracted towards this industry and started spamming. By the recent scandal, Axact, an online education company sold 3000 fake degrees in UK. And it is important for an employer to verify and evaluate the education of an employee and that's what EchoLink is aiming to do and provide an immutable database.
EchoLink allows anyone to query (ask to database) for someone's education to verify someone's education is true or fake. Only the verified universities, companies and training centers are allowed to enter the educational and experience details of an individual, none of the third party agents can enter details into it. And once the profile of an individual is created by reputed organisations, after that the no one can change not even that person can change their degree information, experience, skills and other things.
Official website : www.echolink.info
Well these are not the only problems in the current education system but these are the main and most of the problems which affects lots of people both students as well as to the employers. So to keep this article short I stop here and let you decide whether to continue with traditional education system or to join the transformation.
So friends this is it from my side hope you found this article informative and helpful. If you're interested in blockchain and cryptocurrency and would like to get notified for my future articles subscribe me @Ashma
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