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IBM states “Blockchain has become the de-facto technology and standard for many business verticals such as financial services, supply chain, healthcare, education, government and more. 69% of the world’s banks are now looking to adopt Blockchain and 10% of world economy is forecasted to be on Blockchain by year 2024.” ("IBM Career Education Program", 2021)
Blockchain’s ledger technology has the ability to improve & better manage accountability, transparency, and the overall educational experience for both students and teachers. With blockchain comes an immutable real-time record of events, accountability through smart contracts, and incentivization via tokenization.
It is clear that blockchain is an innovative disruption in the ed-tech market—one that has the potential to truly revolutionize and revamp the industry for key stakeholders, i.e., students, teachers, and companies. More than that, a blockchain revolution calls for re-evaluation of practices and is the beginning of an inevitable reform.