Blockchain's worth as technology is invaluable in any area where documentation is necessary, including education systems, says the Hashcash chief.
PALO ALTO, Calif., July 13, 2022 /PRNewswire-PRWeb/ -- With features upholding trust, transparency, and immutability, blockchain has leapfrogged into the mainstream as one of the most disruptive technologies of the present age. HashCash Consultants CEO Raj Chowdhury asserts the fundamental architecture behind crypto can be utilized to power other innovations as well, such as transforming the current education system.
The global COVID-19 pandemic has severely impacted educational institutions worldwide, reducing their ability to impart knowledge and valuable lessons. While the lockdowns became a boon for online education platforms, educators have acknowledged the limitations of teaching online. The challenges include delays in the grading process and proper documentation of student records, in addition to preventing any possibilities of discrepancy.
The HashCash Chief, also a noted blockchain pioneer, highlights the benefits of blockchain integration in the education sector, stating, "Decentralized blockchain built upon a P2P distributed network architecture facilitates documentation of student records on a global scale. The technology reinforces digital education transcripts with higher security, resilience, and flexibility."
In terms of scope, blockchain will be beneficial for both students and examiners ensuring data integrity and visibility. The process also helps in cutting down costs to a significant extent, eliminating the need for degree printing, verification, or storage. Blockchain-powered smart contracts can also be utilized to transfer academic records, enabling online learning platforms and institutes to issue certificates on completion of the course curriculum.
"The core tenets of blockchain uphold a system that offers optimized cost-cutting while eliminating bias or intermediaries. It is thus logical that the technology will be a game-changer for the entire education sector," concluded Chowdhury, who had previously voiced his support for blockchain's use in patent claims, and the growing need for blockchain analytics.
Led by Chowdhury, HashCash Consultants has been a global frontrunner in blockchain development, winning top honors and operating in more than 26 countries across 6 continents. The company brings together banking and the emerging fintech sector with cutting-edge white-label blockchain solutions. HashCash's crypto payment gateway is gaining steady prominence among US merchants.
The explosive growth of the blockchain industry is evident from its potential in both innovation and improving existing systems. Businesses around the world undergoing digital transformation are seeking to implement blockchain to leverage its benefits into their existing operations.
About Raj Chowdhury:
Raj Chowdhury is the Managing Director of HashCash Consultants and Paybito. Raj pioneered the first interbank Trade Finance and Remittance implementation of Blockchain Technology between two of the largest global banks. Raj is an eminent voice in the Blockchain and Cryptocurrency space and actively engages with policymakers in this area. He is a contributor to Economic Times, Business World, CNNMoney and advises industry leaders in the adoption of Blockchain. He is a member of Asha Silicon Valley, a nonprofit committed to education for children in emerging countries. Author of the book 'The Dark Secret of the Silicon Valley', Raj is an investor in blockchain and cryptocurrency companies and an active member of the philanthropic community.
Media Contact
COLEEN F, Hashcash Digest, +14159662907, [email protected]
SOURCE Hashcash Digest
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