Blockchain technology is frequently overshadowed by the wild success of the bitcoin. It should not come as a shocker to you that common folk might have not even heard about the Blockchain.
To me, this is quite a shame. Because the true value of the technology in question isn’t in the cryptocurrencies that people are fomo’ing over, it lays in the Blockchain. For those who don’t know. Each transaction on the Blockchain is secure, transparent, and immutable. Furthermore, a transactions cant be changed after it’s been added.
Additionally, the whole network operates under a consensus philosophy. As a result, each new transaction must be approved by other network participants. And now its is being adopted by MIT!
Universities embracing blockchain technology.
Currently, a lot of universities are starting to ramp up on their course offerings in terms of cryptocurrencies, the bitcoin, and Blockchain tech. Now we’ve got MIT, a University running on paper files that’s become a home for over 200,000 students and has been operating since 1861.
MIT has launched a pilot program offering students the option to get their diplomas through the Blockcerts Wallet. This will allow students to always have an immutable Blockchain copy of their University diploma. Additionally, this will provide future employers and Universities with the reassurance that the diploma is tamper proof.
Over 100 students stand ready to receive their diplomas in digital form. 85 masters of finance students, and 26 masters of science in media and arts will get their diplomas in June via Blockcerts.
What the future holds.
Students will be able to easily prove to any future employer that they did indeed attend MIT. This can curb the massive issue of record loss. Stackable certificates can be deployed in the future. All academic and performance records can be linked up and verified in the blink of an eye. MIT will also reach out to old graduates because of the pilots great success. Seems like this is a good step forward in terms of the techs adoption.
For more knowledge on what industries Blockchain technology will impact just check out this post!