Prime Minister Narendra Modi launched a blockchain-based digital degree while attending the 54th convocation ceremony of the Indian Institute of Technology (IIT) Kanpur.
So, now when a student passes out from IIT Kanpur, they will be issued digital degrees through a blockchain-driven technology developed within the institute under the National Blockchain Project.
These digital degrees can be verified globally and are unforgeable.
How Can Blockchain-based Degrees Help The Educational Sector?
Blockchain technology has been a great innovator in the financial sector. With the blockchain-based degree, the educational sector in India will see a lot of changes:
- It will curb the fake education certificates in India
- Simplify the task of maintaining the records of students
- Students will also be able to access their records from anywhere
- Not just students but also helps teachers in preparing curriculum and grading
- For employment outside India, verification can be done instantaneously which was otherwise time-consuming
Blockchain Use Cases Adopted by Governments Around The world
Blockchains have progressed from cryptocurrencies to multipurpose technology that can be used in a variety of applications. The Ministry of Electronics and Information Technology released a ‘National Strategy on the Blockchain’, that identifies 44 potential areas which can use the technology extensively like education, governance, finance and banking, healthcare, logistics, cyber security, media, legal, power sector, among others.
Countries like Japan and Malta were already using blockchain technology for certificate management. Meanwhile, China, the USA, the Philippines, Brazil have started using blockchain in medical and health care.
With so much scope in blockchain technology, the Indian government is also looking to explore the use of blockchain technology proactively to usher in a digital economy.
Earlier in December, Finance Minister Nirmala Sitharaman said there were extensive discussions on the regulation of cryptocurrencies and that the government is working on a new Crypto Bill. However, we will have to wait and see to know the full details of the bill.
Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.
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