What is the Blockchain and How Can It Transform Higher Education?
What is blockchain? As academic leaders, you want to stay on top of what’s coming next. And the blockchain could transform how colleges and universities operate in 5 critical ways. What is the Blockchain? The blockchain has been described as the new internet, the next generation of data and information. As a digital ledger that allows data to be dispersed across different users and user systems via cryptography, the blockchain allows for “trustless commerce in a trusted way,” according to one leading blockchain expert. That means you do not have to know the person on the other end of a transaction in order to know the transaction is secure and permanent. The technology takes care of that for you. Most people who have heard about the blockchain know of it because they’ve heard of cryptocurrency, such as Bitcoin or Ether. Blockchain is the technology that enables cryptocurrencies, but it has potential uses far beyond just Bitcoin. Leading expert Michael L. Mathews, vice president of innovation and technology at Oral Roberts University, suggests that the basic concept of blockchain technology has already been proven by the US Library of Congress’ use of MARC codes. These codes ensure that each item exists as […]
