US Education Department promotes putting student records on blockchain
A new government-funded challenge seeks blockchain-based solutions to simplify educational data sharing, but implementation could take time. The COVID-19 pandemic has exposed flaws across various sectors. As a result, a number of government departments are evaluating blockchain-based systems as possible solutions for challenges involving multiparty workflows, record-keeping, transparency and more. For example, the United States Department of Education recently provided funding for the launch of the “Education Blockchain Initiative.” Referred to as the EBI, this project is led by the....
Related News
A company called Gold Silver Bitcoin is touting its commodities of choice as a way for college students and graduates to hedge their often-huge student debts. To back its argument, the company cites reports that the number of graduates in the US who have fallen behind on their student loan payments has climbed to an all-time high. In the third quarter of 2012, 11 percent of payments on student loans were 90 days or more past due -- considered "seriously delinquent" -- according to a report from the US Department of Education. The department also reported that nearly one-third (around 30....
The Vietnamese government has partnered with Singapore-based blockchain platform TomoChain to archive student records on a public blockchain.
Tech powerhouse and early blockchain developer IBM is reportedly in talks with the Kenyan government to put public records from various sectors on a blockchain. According to regional publication Business Daily Africa, IBM is looking to transform public records’ management by introducing blockchain technology in the fields of health, education and real estate. The Kenyan Ministry of Information and Communication is for the plan, noting that information stored over a public, immutable ledger will help curb fake academic certificates as well as fraudulent land transactions. Speaking at the....
The use cases of blockchain technology have been touted many times, and various education facilities are using this concept to record and verify student credentials. Adding this new layer of transparency will help employers check candidate credentials in the future. It may come as a surprise to learn that various educational institutions are actively....
College education is expensive, whether you’re going for your bachelor’s degree or your master’s degree. And these days, American students are more burdened by student loan debt than ever before. While there are more affordable options, such as online schools that offer a wide array of programs, from an online MBA to an online homeland security program, taking out loans to pay for higher education has put young adults in debt before they even have a chance to start working. A Look at Some Numbers. To really understand just how burdened American students are with debt, you need to look at....