Potential Applications of Blockchain Technology in Education

Abstract

Blockchain is a particularly promising technology that is inherently a decentralized, secure and public digital ledger that can be used to create and manage digital tokens. They are carriers of value and are stored on the blockchain. Blockchain technology ensures that tokens are secure and tamper-proof. Non transferable tokens, also called “soulbond” tokens, are gaining popularity as a way to authenticate ownership. Originally created to convey information in the field of cryptocurrencies, they could find other use-cases as well. The purpose of the report is to examine the possibilities of using blockchain technology in education, including the benefits and problems that could arise. Specific examples are presented, as well as a proposal for the application of non fungible tokens (NFT) for certifying the results and achievements of students during their studies in the learning system of Trakia electronic University (TreU).