Education Policy, Business and Technology

How Blockchain Will Disrupt the Higher Education Transcript

Campus Technology: Last year, the MIT Media Lab began issuing digital certificates to the participants in its Director's Fellows program. The authentication behind the certificates relies on blockchain technology, best known for its connection to the cryptocurrency bitcoin.

In a blog post, Philipp Schmidt, director of learning innovation at the Media Lab, described how blockchain works: "In essence, it is a just a distributed ledger to record transactions. What makes it special is that it is durable, time-stamped, transparent and decentralized. Those characteristics are equally useful for managing financial transactions as for a system of reputation. In fact, you can think of reputation as a type of currency for social capital, rather than financial capital."

Read article