While there are many challenges that the current education system faces, it is not the only industry that requires an overhaul. The fact that most students spend their time learning about subjects that do not interest them has led to a decline in the level of interest in studying as well as an increase in drop-out rates.
Although the educational industry has been working to address various shortcomings for quite some time now, it would require some serious innovations to make a difference going forward. Fortunately, digital currencies such as Bitcoin have shown a great deal of potential when it comes to making improvements in this area. Let’s take a look at five reasons why Bitcoin could be the future of education:
Peer To Peer Learning Platforms
Another big issue with the current education system is the fact that most students never interact with people from different backgrounds or educational levels. The best way digital currencies could contribute to this area is by creating a peer-to-peer learning platform where students could interact with each other. By allowing users to create profiles and “follow” each other, it would become easy for users to find others who have similar educational goals and interests. They could then begin discussions and “mentor” each other.
Furthermore, peer-to-peer learning platforms could also use blockchain technology just like Bitcoin Loophole. This technology helps to manage user profiles, grant access to education content, and ensure that no one is sharing copyrighted materials.
Affordable Education
Today, the cost of acquiring a university degree is not only high but also out of reach for most people. Fees for higher education have increased approximately 2,000% over the last 50 years, making it a costly and, often, unnecessary investment. Moreover, student debt has also become a substantial problem. The number of people with outstanding student loans currently is increasing every day. To address these issues, we need to look at how digital currencies, such as Bitcoin, can help.
First, we need to find a way to make higher education more accessible to all people, regardless of their financial standing. With regulated schools and universities on one end of the spectrum and online courses on the other, it seems as if there is no middle ground. This is ripe for digital currencies to address.
Fully Digital Curricula
Another area that digital currencies could help with is the way that curricula are organized. At the moment, schools and universities use printed books as the main source for teaching students about subjects such as mathematics, economics, and more. While using digital formats for these books would allow for easy sharing of information, it is not yet a common practice. This means that there are few options for people to use mobile apps or online platforms to access the content.
By using blockchain technology, fully digital curricula could become a thing of the past. This would allow students to access the same materials anywhere, anytime, by using digital tools. This would result in a significant increase in accessibility, as well as make it possible to track the progress of each student.
Blockchain for Education
Education is a sector that is ripe for blockchain implementation. This is because the way that each subject is broken down into units is a perfect fit for decentralized record keeping. For example, economics is usually broken down into five or six topics, and each of these can be implemented on a decentralized blockchain.
Similarly, math can be broken down into the same number of topics, which means that the same approach can be used. In this way, the blockchain model provides a way to track the progress of students, who then receive a grade for each topic. Furthermore, blockchain technology can also be used for peer-to-peer learning platforms, fully digital curricula, and managing student data.
Earn While You Learn
While it may seem strange to associate learning with monetary incentives, they have been proven time and time again to have a major impact. Specifically, the use of micro-credits has been shown to have some positive effects. A micro-credit is a small sum of money that can be used to support a student’s learning efforts. Micro-credits could be assigned for tasks like peer-to-peer learning and reviewing content, as well as for submitting assignments.
Additionally, the use of micro-credits has been proven to be an effective way to incentivize students to complete their work. Using Bitcoin to issue micro-credits would be a perfect way to bring this concept to the table. First, the blockchain would be used to issue each student a unique, verifiable digital signature. This signature would then be converted into a micro-credit, which would be stored on the student’s blockchain wallet.
Final Thoughts
Digital currencies, such as Bitcoin, are helping to address some of the challenges in the educational sector. This includes making higher education more accessible, creating peer-to-peer learning platforms, fully digital curricula, blockchain implementation, and more. However, there is still plenty of room for innovation in this field. With the right approach, digital currencies could take center stage and help to transform the way that education is delivered.
