Tuesday, May 31, 2016

How Blockchain Will Disrupt the Higher Education Transcript - David Raths, Campus Technology

Last year, the MIT Media Lab began issuing digital certificates to the participants in its Director's Fellows program. The authentication behind the certificates relies on blockchain technology, best known for its connection to the cryptocurrency bitcoin. In a blog post, Philipp Schmidt, director of learning innovation at the Media Lab, described how blockchain works: "In essence, it is a just a distributed ledger to record transactions. What makes it special is that it is durable, time-stamped, transparent and decentralized. Those characteristics are equally useful for managing financial transactions as for a system of reputation. In fact, you can think of reputation as a type of currency for social capital, rather than financial capital." The technology has tremendous potential for higher education, according to Phil Long, chief innovation officer and associate vice provost for learning sciences at the University of Texas at Austin. https://campustechnology.com/articles/2016/05/16/how-blockchain-will-disrupt-the-higher-education-transcript.aspx

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