5 Ways Smart Contracts Will Transform (May Improve) Education Sector
Crypto Guide
Live News

Keeping up with all the cryptocurrency news and updates is not an easy task, but we are up to the challenge! This way we can help our readers to keep track of changes in these fast growing currencies. Just like our site, lambo2btc.com is willing to face this challenge and on their site, they compile the features, key elements, and recent news involving bitcoin casino sites and which are the best to try!

5 Ways Smart Contracts Will Transform (May Improve) Education Sector

November 11, 2020      Deepshikha Gupta

Introduction to Smart Contracts in Education

A Smart Contract is a set of rules coded in a digital format. The rules are written in a computer language to execute any given task. Although, this less publicized technology has all ways to transform the given education system. The transparent and verifiable register of smart contracts operates through a decentralized platform – the blockchain.

With the assistance of Educause and CB Insights, we have identified multitudinous ways that smart contracts can improve and deploy by school districts, community-based organizations, post-secondary institutions, networks, etc.

Student Transcript

One real example of this can be Sony Global Education. This education platform partnered with IBM to share student records using blockchain. Student transcripts carry their identity that cooperates with the identity management of students. Also, platforms like Blockstack and Uport assist users in carrying their identity all over the internet.

READ  Bzx Starts Restoring Its System After Recovering $8.1 Million From Hacker

Deploying smart contracts in education will streamline the record-keeping procedure that proved to be lengthy, computationally intensive, and prohibitively expensive.

Infrastructure Security

The latest infrastructures in schools are equipped with a digital camera that records 24 hours a day constantly. Also, smart contracts can be used as a data verification system for CCTV surveillance. The pseudo-code used for operation in a smart contract shown in the image below:

smart_contract
Smart contract Algorithm

When a user inputs a request for a query, the smart contract allows access to the query if granted. One can easily access the CCTV footage then. The system will develop a Blockchain interface between CCTV and participants. The block diagram below represents how a person can access the blockchain through a smart contract for the CCTV footage.

smart_contract_for_CCTV_operations

A Platform for Independent Artists

Since education is not only about books. Muzika, a music streaming platform has partnered with Binance, to aid independent artists in making money. Entrepreneurs are turning towards this young technology to make content sharing fairer.

READ  Why Regulation is Inevitable for Blockchain Technology

Whereas, the revenue from the work will be directly proclaimed by the predetermined licensing agreements. The platform Muzika is setting up the groundwork to provide 90% of revenue to the artist.

Sports Management

The purview of sports management has always been on the hit list for sports agencies. Although, using smart contracts in the management of sports is not ready, but for sure the possibility of investment is there.

The Jetcoin institution, known for managing the distribution process of digital fuel, recommended investing cryptocurrency for their favorite player’s future savings. A small portion of seat upgrades, VIP events, etc saved for the player. Moreover, the institution has experimented with this approach with the Hellas Verona soccer team, Italy.

Additive Printing Applications

People associated with the commonly called 3D printing knows how high this technology-driven process is. Also, digital files contain sensitive information in it. And, there is a high possibility that these diplomatic documents can be sent with just a click.

READ  HBZ Investors Requests Court To Restrain Company From Destroying Contracts

Consequently, smart contracts can evolve the process of transferring files and eliminate security vulnerabilities.

#Applications of smart contracts in education #Education and smart contracts #Smart contract for infrastructure security #Smart Contracts #Smart contracts in education sector
Deepshikha Gupta
Deepshikha Gupta

A student from a technical background, Deepshikha found Bitcoin in 2020 and has been an evangelist ever since. A B.Tech turned into a full-time crypto-writer, she tries to bridge the gap that currently exists between the crypto world and people from non-technical backgrounds, through her simplistic yet effective form of writing. She finds that her writing for cryptocurrencies can redefine the way the audience interacts with the crypto space.