Smart Contracts based on Hyperledger Fabric Blockchain for the Purpose of Higher Education Subsidizing

Abstract

During their studies, many students drop out of one specialty, then apply and enroll in another. The state subsidized several semesters of their studies, then again subsidized the student's studies in another specialty. A number of students start but do not complete their studies, but this has been subsidized by the state as well. No research has been focused on the state's losses from subsidizing education in these cases. This paper proposes a model where any citizen can receive a subsidy for his studies, but only for up to 10 semesters. After that, he has to pay the full cost of his education. Under this model, students are motivated to complete their studies within the subsidized semesters, and the state does not suffer losses from refinancing the same student whose study period exceeds these semesters. The model is based on a smart contract on Hyperledger Fabric platform.