In today's scenario of competitive economies, efficiency decides the present and future position of any economy in world podium. It is this efficiency that everyone focuses through policies, technologies, infrastructural development etc. Like other sectors, education sector is of much importance for indirect growth of efficiency and sustaining that in long run, especially in underdeveloped and developing economies. This can easily be seen as developed economies/countries have much better education system than developing and underdeveloped economies.
Technology is one tool to improve efficiency of education sector, like in every other sectors. First the computers then internet has helped a lot in the same. Online education, study material, record keeping, fast knowledge sharing, assessment are few direct uses of technology in education sector. It is also pertinent to mention that efficiency always entails cost that underdeveloped economies are in no position to pay. Further, corruption and favoritism adds to this menace not only for underdeveloped countries but also for developing ones.
Blockchain technology is a totally new aspect in today's modern world and it will be interesting to see how it grows. I think, this technology is overhyped compared to its growth of its fundamentals but i am also positive on its fast growth in this competitive world.
No doubt, blockchain is going to improve the efficiency of all the industries in very near future. Now, it is upon us to decide where and to what extent we actually need the traits of blockchain, trust, immutability and distributed ledger.
In education sector, the blockchain technology definitely is going to intervene in few years, if not sooner. Whatever, for building trust in education system for underdeveloped countries or countering corruption and favoritism in higher education or career in developing countries, the traits of this technology are must to step up the efficiency to the next level. If not in developed or advanced countries, the education system definitely needs to be improved in developing and especially in underdeveloped countries.
Few start-ups like Bitdegree, Universa, Edgecoin etc. are already geared up to use this technology in reshaping the present educational system. Even, presence of Sony Global through its Sony Global Education initiative ascertains the potential of the blockchain technology in education sector. It will be fascinating to see the growth of blockchain in all sectors along with education system and reforms therein.