Cryptocurrencies remain a trendy topic in the investment world, but for many, blockchain is where it's really at. Investors tired of the volatility of digital tokens, the concerns about fraud and security, and speculation about bubbles and scams have a related but separate area in which to focus their attention and investments.
Blockchain, the technology behind cryptocurrencies like bitcoin and ripple, has been hailed as one of the greatest inventions in recent history (and even, depending upon who you ask, as one of the top creations of all time). It is, undoubtedly, an exciting moment to be a blockchain enthusiast; interest in the space has spread far and wide, and there are countless projects aiming to do nothing short of revolutionize and disrupt whole industries.
The biggest question for many investors is no longer about whether or not blockchain will catch on. Now, it has to do with which projects are most likely to succeed in these goals. A recent report by CryptoDaily highlights the answers that HowToToken co-founder Kirill Shilov suggests for this question, particularly with regard to the education world.
Shilov focuses on projects that can revolutionize data and the way the education system works. One of the projects he highlights is EdgeCoin. This blockchain project allows for the storage of research materials and certificates, helping to cut costs within the industry and streamline academia. Shilov explains that "EdgeCoin uses proof of scale (PoS) rather than the standard proof of work (PoW). PoS is where only a select few of those nodes are chosen ... by choosing a select few individuals to govern the site, the transmission of smart contracts goes much faster."
Shilov points to SuccessLife as a model for how educational services can be made more accessible thanks to blockchain. Shilov shares that "the multi-chain architecture of the blockchain supports data sharing, time-stamping, and encrypted archiving, making it better suited to support content management for ongoing marketplace development." SuccessLife capitalizes on these attributes by providing lower-cost educational services.
Another education-related project that Shilov recommends is Tutellus. This project provides a platform containing more than 120,000 video courses. Users receive rewards for completing courses and demonstrating comprehension. Shilov explains that "Tutellus has more than a million viewers, so you'd think the website would need a super fast platform to accommodate that much traffic." Blockchain technology has helped Tutellus not only to incentivize its education system for users, but also to streamline the process of transmission for students.
A fourth project Shilov suggests keeping an eye on in the blockchain education realm is SonyGlobalEducation. A program of the Sony Corp., SonyGlobalEducation is a blockchain-based educational record system. Records are an area of the academic world largely beholden to outdated technologies, and SonyGlobalEducation aims to allow students to quickly update and access their records. The platform also purports to offer learners access to a wide variety of educational providers, in addition to its blockchain-based record storage and transmission systems.
Will education-related projects be the next big thing in the blockchain space? It's difficult to say, as there are individuals and companies looking to harness this technology to upend hundreds of different existing industries. Nonetheless, blockchain could help to make the world of education more efficient and cost-effective as it opens up access to educational programs to more and more individuals around the world.
Investing in cryptocurrencies and Initial Coin Offerings ("ICOs") is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or ICOs. Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. As of the date this article was written, the author owns bitcoin and ripple.