Why the Blockchain will be a major phenomenon in Edtech and elsewhere...
The Blockchain phenomenon marks a new fundamental step in the digital transformation, what can it bring to higher education institutions & in other business fields ?
What is the Blockchain ?
Technologically, it's a Peer-to-Peer application based on a distributed database...
From a functional point of view, the Blockchain (BC) is a secure information channel without intermediaries, which appeared with the virtual cryptocurrency Bitcoin. It is often presented as a public account register where all exchanges between users of this BC are tracked from the beginning. If desired, anyone can check the validity of information with integrity. No need for a trusted third party or certification authority, BC is its own trusted third party! Technologically, it's a Peer-to-Peer application based on a distributed database. This open source protocol represents a chain of block consisting of two main characteristics: it operates in a decentralized way and guarantees data integrity. On this emerging basis, startups are mobilizing to find new services that are increasingly attractive and innovative...
A disruptive innovation in essence ?
A new fundamental step in digital transformation: the "disintermediation" effect
Breakthrough innovation is a radical conceptual change for customers. This process is capable of creating new consumption and usage habits, and thus disrupting an existing market. The very nature of the Blockchain, as an unregulated system, requires evidence of disruption in a digital world in a state of permanent change. This innovative phenomenon marks a new fundamental step in digital transformation: the "disintermediation" effect. It frees institutional actors from historical dependence, clearly on legal issues, but also as "unique" certification authorities. Indeed, we are witnessing a real paradigm shift. The digital revolution has led to a break in business models, leading to sectoral reorganization and the loss of some historical sectors. With the Blockchain and fewer intermediaries, we accelerate access to information, make it easier to access and guarantee its security.
The impact on Edtech and the ecosystem of learners, training institutions and human resources
A revolution and a godsend for technologies related to the field of education (Edtech), a booming sector where the need for certification is essential. According to a study by IFM, a leading network in human resources consulting, 33% of job candidates most often award themselves a false diploma ! The need to verify this type of information is no longer incidental and may be useful to avoid some subsequent legal conflicts. Whether it is to certify the veracity of digital diplomas or not, or to certify MOOCs (Massive Open Online Courses), or even to authenticate European diploma supplements(1), the possibilities and advantages of the Blockchain seem very promising. Where it often takes several days to verify the authenticity of a diploma, it will then be possible to check this information almost instantly in a secure way. Digital certification is an important step in the digital transformation of education and its ecosystem of learners, training institutions and human resources. Sony Global Education President Masaaki Isozu said he wants to provide "a new type of platform for education that would contain audited school records and diplomas obtained", and that the Blockchain is "one of the options being considered to help achieve this goal"...
Beyond Edtech, other applications are possible....
experts estimate that by 2025 at least one government will collect taxes through the Blockchain
According to a report by the dedicated commission of the WEF(2), 73.1% of IT executives and experts estimate that by 2025 at least one government will collect taxes through the Blockchain. A priori this figure shows us a certain confidence shown by these actors in this very promising "new" protocol. Banks have understood the interest of the Blockchain with potential profits of up to 20 billion dollars per year... Other applications are just as interesting: the Ascribe service, for example, allows you to create a permanent and unforgeable link with any digital creation, a kind of digital tattoo that protects you from illegal copies of your work. This process could also be applied to software licenses and help fight piracy. The Blockchain could also deeply transform the world of purchasing and commercial relations: the concept of "Smart Contracts" announces autonomous and intelligent contracts capable of automatically executing the terms of a contract when certain conditions are met. We can then imagine the gains in terms of management and in particular the potential for reducing litigation... Will the Blockchain phenomenon be the future of certification? It is likely that in the coming years more and more educational institutions will use the Blockchain to secure their digital certificates and diplomas...
(1) The Diploma Supplement is a tool developed within the framework of the Bologna Process in Europe and is intended to facilitate the understanding of studies carried out by a third party (employer, institutions...)
(2) World Economic Forum
Source Anthony Hié - Traduction de mon article IT SOCIAL 2016 - Lien Article FR
Chief Information & Digital Officer - ESCP Europe