Tracing the Evolution of Blockchain and Its Implications to Higher Education

Abstract

Blockchain technology has evolved from cryptocurrencies to second and third-generation distributed ledger technology (DLT) applications using payment gateways, smart contracts, and digital accounting. Nations across the globe are also using blockchain for networking within regulatory bodies. There are opportunities for applications within the education sector to be developed, but general awareness of blockchain technology in educa- tion can be said to be low. Since DLT is tamper-proof, there is the option of 204 using the technology to hold records of students, processes, transactions, and certifications within tertiary institutions, but questions arise about whether tertiary institutions will need to rebuild existing systems from scratch. There is still much uncertainty about the adoption curve that this technology will bring to the education sector, but by tracing the history of blockchain technology and its applications, the education sector may be able to consider the needs of educationists, students, administrators, and legislators by developing related applications. Specific areas within education that could be impacted include student records, diplomas, certif- icates, badges, file storage, lessons, and courses, governance, libraries, and publishing. The education sector can therefore begin to appreciate blockchain’s interoperability functions in the existing and post-COVID-19 world, although multiple languages that exist in our globalized world represent a major challenge, and specific hardware and software used to house education platforms will need to be redeveloped for data acquisition, recording, and standardization.