#AI@Work: Blockchain is Democratic
Democracy is also an important characteristic of blockchain. There is no one centralized authority. Data is not stored in one location. It is distributed to allow peer to peer transactions without a centralized mediator. Blockchain is a trust protocol that eliminates the need for firewalls. It links all transactions and gives them a permanent time stamp. There is no way to reverse a transaction. It works with a series of keys, private or public, and the information transmitted. There is no single authority, central owner, back door dealings or central server involved. Blockchain is very clever code, mass collaboration and cryptology.
The potential for learning environments is huge. So far, education and L&D are moving slowly towards the adoption of these technologies. Part of it is the spend, part of it is understanding and part of it is cultures resistant to change. There are huge benefits on the horizon if blockchain can be adopted to support innovation and transform learning networks (PTAC, 2019).
Education is slow to adapt to change especially in the areas of new technologies. There is no doubt that blockchain can help education move forward by application in digital credentialing. This is a first step and a good place to start using blockchain. Blockchain could be used to store digital credentials like certificates, badges and qualifications. The potential is there to track actual learning accomplishments at the learning level for the individual. Blockchain can make them accessible without the intervention and fees associated with centralized ledger systems.
Blockchain would support decreasing the role of the intermediary and decentralizing control to the learners. The process of certification and managing false records can be handled using blockchain with end-to-end encryption. The authentication processes can be developed to assure privacy and maintain integrity and transparency.
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