Blockchain in Education: A Comprehensive Approach for Managing Academic Credit Transfer Systems

Abstract

Purpose: Primarily this study is to explore the potential application of the blockchain as technology for managing the Academic Bank of Credit (ABC) system. It aims to identify the pros and cons involved with the implementation of blockchain technology to ensure secure, transparent, and efficient storage and transfer of academic records across multiple educational institutions.

Design/Methodology/Approach: This research employs a qualitative review of existing literature and technological frameworks related to blockchain in education. It analyses various blockchain models, consensus mechanisms, and regulatory approaches to assess their suitability for ABC systems. The study synthesizes prior scholarly work, technological standards, and regulatory considerations to formulate comprehensive insights.

Findings: The study finds that blockchain possesses significant potential to transform the ABC systems, by providing immutable security, fostering trust, and streamlining credit transfer processes. However, several barriers remain, notably issues related to scalability, consumption of high energy in public blockchains, privacy concerns with sensitive data, governance complexities, and lack of interoperability across institutions. Implementing permissioned blockchains, adopting energy-efficient consensus mechanisms, and establishing standard regulatory frameworks are identified as crucial steps to mitigate these challenges.

Originality: This research offers an integrated analysis of blockchain’s capabilities and limitations specifically tailored for educational credit management systems. It contributes novel insights into combining technological advancements with regulatory frameworks to cater the distinguished challenges of using blockchain in education. The comprehensive overview serves as a strategic guide for policymakers, educational institutions, and technology developers aiming to leverage blockchain for secure, efficient academic record management.

Paper Type: Theme Based Paper