Blockchain is today what Big Data/ Cloud Data was back in 2012- part new-kid-on-the-block and part mysterious technological chanteuse. Everybody’s talking about it, everybody wants a piece of it and almost everybody is intrigued by it.
The open ledger-mining method for tracking, trading and creating digital -slash- cryptocurrency called Bitcoin for monetary transactions across the internet – that’s how most of us have been introduced to Blockchain technology.
Not familiar with what Blockchain is?
“The blockchain is a digital ledger of sorts, where all transactions that have been made, or events that may have occurred, can be seen online, by anyone, without compromising the privacy of the parties involved. These ledgers are shared and distributed amongst different computing nodes, and can only be changed once there is a shared consensus among all nodes. Once information is entered, it cannot be erased, and the distributed nature of these records — along with a built-in layer of cryptographic protections — make them difficult to hack or alter by any one individual.”
“A blockchain is a massive, fraud-resistant distributed ledger that could be the new infrastructure of the future. The open ledger uses consensus algorithms to transparently record and verify any transactions without a third party. It replaces the middleman with mathematics. Because the blockchain infrastructure is decentralized, there’s a lot less friction and time wasted than traditional, centralized processes.“
Now, more and more, we hear of Blockchain being paired up with varying partners – Education, the Banking sector, Governance to the Music industry- any discipline where records are kept.
Zeroing in on my particular favourite, what can we expect if Blockchain technology is applied to Education? In particular, what, if any, revolutionizing will take place if the open ledger database system is applied to everyone’s academic records?
Looping back to last year’s hottest story, the Axact – Fake Degree scandal, there are enough people out there with inauthentic academic qualifications, intentional or not, to make a case for verification of academic credentials and to identify products of diploma mills. Then the question is raised whether a public ledger system for educational records will be considered reliable.
Audrey Watters covers this particular conundrum wonderfully in a recent post of hers. Here’s an excerpt:
“…When it comes to issues of “trust” and, say, academic certification, who is not trusted here? Is it the problem that folks believe students/employees lie about their credentials? Or is the problem that credential-issuing entities aren’t trustworthy? I mean, why/how would we “trust” the entity issuing blockchained credentials? (What is actually the source of “trust” in our current credentialing system? Spoiler alert: it’s not necessarily accreditation.) How would the trustworthiness of blockchained credential-issuing institutions be measured or verified? If it’s by the number of transactions (eg. badges issued), doesn’t that encourage diploma milling?”
According to The New Stack blog, the Holberton School in San Francisco is using blockchain technology in a bid to authenticate degrees it offers. Effectively providing a service to both the graduate as well as the potential employer by being the very first educational institution to offer secured and publicly accessible academic certificates in the world. Sounds like music to my ears, what with recent experiences in hiring department, though it seems to put the pressure on other institutions to either follow suit or share why they will stick with the status quo.
Sony Global Education announced it’s launch of block-chain-based technology to share academic records; Sony’s product will be in the market sometime in 2017.
I had been meaning to write about this for a few days now, however, with the global uproar over the Panama Leaks, it seems to be kismet!
“The Panama Papers are an unprecedented leak of 11.5m files from the database of the world’s fourth biggest offshore law firm, Mossack Fonseca….The documents show the myriad ways in which the rich can exploit secretive offshore tax regimes. Twelve national leaders are among 143 politicians, their families and close associates from around the world known to have been using offshore tax havens.“
The scandal lines up nicely with the topic at-hand; with such wide-scale corruption, a decentralized, distributed model of public record-keeping applied to the purchase and transfer of assets seems to be a scheme worth trying.
Is the growing enthusiasm for uber-transparency in all services up for consumption a symptom of the decaying global economies?
Are we abandoning the bogeymans enforced on us in the era of Capitalism and trumped up banking charges to embrace the glaring authenticity of a public record-keeping system for all transactions – all to avoid a dystopian future where no markets exist except for under totalitarian rule? (Think of any post-apocolyptical society represented in popular Hollywood cinema)
Is this the continuation of the global equality movement underpinned by technology – such as open source softwares or free online college courses?
Or is this forced declaration of one’s records (financial, academic, professional, etc) exploiting technology and millennial zeal for transparency to satisfy the need of habitual whistle-blowers and conspiracy theorists?