The blockchain is going to school.
Earning a college diploma doesn’t just mean a student has become an expert in a specific field. It also means they’ve learned good study habits, developed self-discipline, and figured out how to navigate a complicated bureaucratic landscape. Case in point: the simple task of getting transcripts delivered from one institution to another.
Now, Sony is looking to make managing education records easier by using blockchain technology, the same revolutionary concept behind Bitcoin. The tech giant has developed a new digital system for storing and managing education records that not only keeps them safe but also makes it easier for them to be accessed by third parties.
For those unfamiliar with blockchain, it’s a database or a “digital ledger” located on a chain of computers. Before a change to the data or a transaction (in the case of Bitcoin) can be recorded, the entire chain of computers must give their approval. This helps reduce fraud because everything on the ledger is available to everyone — and every computer — on the blockchain to see.
Sony’s new platform will give students a digital transcript — including degrees, diplomas, tests, and athletic records — which will be accessible through the blockchain. This will prevent fraud while making it easier for potential employers and academic institutions to access these documents. Currently, this type of information is stored as physical copies at individual institutions, making it difficult for them to be accessed and easy to be forged.
The big win for students: less time wasted in line at the administration building waiting for their transcripts.
After this new information system is up and running, Sony hopes to use artificial intelligence to analyze the data to help schools improve their curriculum and management. Sony is also looking to bring the same blockchain technology to other arenas, including real estate, logistics, and proprietary digital content.