Blockchain technology, developed as a digital ledger to record transactions using the digital currency bitcoin, is finding its way onto campus. The Massachusetts Institute of Technology’s Media Lab and educational software provider Learning Machine recently launched an open-source initiative that allows institutions to create, share, and verify blockchain-based educational credentials.
The potential uses of blockchain technology on campus include providing credential verification and tracking students’ progress through their coursework. Through the platform, credentials collected by students can be securely shared with anyone, such as an employer, who requires official documents.
The platform ensures the documentation sent is authentic and valid, according to a release on Blockchain News.
“The goal of our collaboration with the MIT Media Lab is to empower individuals with shareable credentials that can be used peer-to-peer and verified as authentic,” said Chris Jagers, co-founder and CEO of Learning Machine. “The current system for sharing official records is slow, complicated, expensive, and broken for everyone in a myriad of ways. The first generation of students to grow up entirely during the Internet age have started applying for college, and many admissions officers can share stories about applicants trying to text photos of their academic records. The expectations, while seemingly humorous, convey an honest impression about the way things should work. It should be that easy for people to share certified records directly with others and have them trusted as authentic.”