Due to the massive Coronavirus (CoV) outbreak in China, a lot of academic institutions have suspended school term.
Now, in attempt to keep the candle burning, the institutions have created online courses using new distributed technologies including blockchain technology and this is expected to bring a significant transformation in the modern education system. Furthermore, parents and students are considering paying tuition using digital payments including cryptocurrency.
As with the recent launch of Blockchain Plus, the distributed ledger technology (DLT) is looked at as a new application mode of decentralized data storage, peer-to-peer (P2P) transmission, consensus mechanism, encryption algorithm and other computer tool, a thing that will enable to resolve the hitches in the traditional education sector.
Blockchain's P2P transmission mechanism has the potential to intermediate connections, improve educational business procedures, and allow effective and economical transactions and sharing of academic schemes.
Due to the current the economic gap, the resulting education gap, in the final analysis is because of the uneven distribution of education resources, then it may be necessary to create a P2P transmission of blockchain education system, all academic schemes chained, all students in need in this system via the payment of more low-cost tuition for resource sharing and learning, it can efficiently improve the resource sharing rate, but also can significantly resolve the issue of resource silos, and due to the big number of student studying from China, resource offers and creators of income promotion will get enough market for their blockchain-based products.
Therefore, the excellent teachers and students will get fair economic income and also make excellent teachers and students via the DLT system for a considerable and steady distribution, distributed across the country. In the near future, the school will also think of certifying and notarising the students’ academic degrees using blockchain.
Finally, chain learning can significantly lower down the cost of human, material and other aspects of investment, which is to decrease the cost of learning, promote inclusive education is also very worthwhile.