Since gaining a considerable amount of mainstream traction over the past decade or so, blockchain and its associated technologies have continued to redefine the global economic landscape. In fact, a recent survey from CasperLabs and Zogby Analytics has shown that blockchain adoption has grown rapidly among enterprises of all scales — especially in the U.S., U.K., and China — with approx. 90% of the surveyed entities deploying the technology within their existing governance and operational structures.
That said, while blockchain has undoubtedly made an indelible mark on the global business landscape, its influence can and should not be relegated to just this realm alone. To this point, blockchain’s use cases have emerged across diverse spaces, including academia, education, R&D, etc. In recent years, a number of well-respected institutions have been investing heavily in this technology — propagating research into its potential use cases in a big way.
A closer look at the synergy between academia and blockchain
A prime example of a mainstream educational institution exploring blockchain tech with a long-term strategic vision is Yıldız Teknik University. Founded in 1911, it is widely considered to be one of the most reputable engineering colleges in Turkey, with over 35,000 students and academic staff.
As part of its above-said initiative, the university has partnered with Metatime, a blockchain ecosystem consisting of diverse services such as a digital asset exchange, NFT marketplace, real estate trading platform, dApp launchpad, among other offerings. Since its market debut, Metatime has been able to accrue investments in excess of $13.5 million, with the project looking to release a comprehensive suite of 70+ products in the coming few years.
Moreover, Yıldız Teknik will be providing Metatime with the required infrastructure to develop their proposed technological base. This includes an office in Teknopark (Turkey’s innovation hub integrating the research capabilities of universities in and around Istanbul), an array of high-quality research assets, and round-the-clock developmental support.
In addition to this, the university is also going to be working on a project with AFAD (Disaster and Emergency Management Presidency) — a governmental disaster management agency operating under the Turkish Ministry of Interior Affairs — to develop a tracking device and data storage solution for Alzheimer patients.
On the other side of the world, similar blockchain initiatives have been initiated by renowned institutions like the Massachusetts Institute of Technology, University of Cumbria, King’s College (New York), Wharton School of Business, UPenn, among others.
A revolution is brewing!
With the blockchain, time and again, demonstrating an ability to revamp today’s archaic educational structures, more and more institutions are beginning to invest heavily in the technology.
Examples of the blockchain revamping the education sector include DNV, a platform that allows for the storage of educational certificates, degrees (and other similar credentials) on a public blockchain. This provides users with an unparalleled level of data authentication, decentralization, and encryption when sharing their private/sensitive data with employers, schools, universities, and other third parties.
Similarly, leading educational platform Tinytap recently partnered with blockchain protocol OpenCampus to make learning more accessible and decentralized for everyone. Using the platform, educators can devise and mint courses in the form of NFTs, which can then be used by students irrespective of their geographical location. Additionally, these tokens can be sold/resold across various marketplaces, allowing their creators to forge an additional revenue stream for themselves.
As the world of blockchain tech continues to intersect with the ever-evolving realm of academia, as exemplified in the case of Yıldız Teknik and Metatime, it will be interesting to see what the future holds for the two sectors — especially when it comes to the potential innovations that can emerge as a result of their union.
Moreover, with the blockchain industry primed to reach a total valuation of $469.49 billion by 2030, growing at a CAGR of 59.9% during the forecast period, it stands to reason that both fields can benefit greatly from one another. Therefore, it seems as though we are in store for some interesting times ahead!