Blockchain has proved itself to be a rising cornerstone in modern business, but a new infographic by Socratescoin shows that it could be revolutionizing the education sector as well.
As reported in the graphic, higher education is looking dire for Americans and even worse for refugees around the world. Some 37% of American adults are weighed down by student loan debt, and 29% of students switch to part time because they can’t afford the time or money to attend more. Refugees have an even harder time beginning their higher education–sometimes due to a lack of credentials or not being able to prove their identity.
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But according to the graphic, blockchain could be the light at the end of the tunnel for such students.
Blockchain offers the potential to open large online courses, or MOOCs, by using cryptocurrency, improve content sharing, and create a global learning community.
As stated in the graphic, blockchain has the capability to record anything that can be expressed in code such as transcripts and records of student loans. To prove their identities, students would just need a key or drive to access what is needed in continuing their education.