How Web3 And Blockchain Technology Transform E-Learning

By Jake Lee, Founder of Magnet.

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The e-learning market is one of the fastest-growing markets in the world, expected to grow to $545 billion by 2030. A major driver of this growth is the rise of new technologies, helping to make online learning more accessible and valuable.

In 2019, Dell Technologies predicted that by 2030, 85% of jobs have not have been invented yet. To meet help meet evolving demands and anticipate new roles, I believe finding alternatives to traditional education is essential.

Among emerging technologies, it is widely recognized that artificial intelligence and blockchain will have a significant impact on e-learning. Of the two, I will focus on how industry professionals can leverage blockchain technology to enhance e-learning platforms and strategies.

Table of Contents

E-Learning Profile

One issue with online learning today is that student achievements can become scattered across the internet. However, if a student’s achievements are recorded on the blockchain, they can be more easily and permanently stored on a public database accessible to anyone, rather than being kept in a private database controlled by a single education company.

Onchain Credentials

In addition to the above, the credentials students earn can also be immutable, meaning they cannot be changed or tampered with if issued on the blockchain. Blockchain technology would allow students to maintain a permanent, verifiable record of their learning achievements that employers can trust.

Digital Ownership

Another unique use case of blockchain technology is the ownership of access to e-learning. High-quality e-learning can be expensive, and a student may only be able to afford access to a single educational program. Currently, we pay for one-time access to online education, but blockchain technology could transform this by converting access into a non-fungible token (NFT). This would allow students to truly own the access they purchase and resell it once they complete the program. By doing so, they could recover funds to invest in further educational endeavors.

An example of this would be an education platform that allows users to purchase access to online courses taught by the top 1% of achievers. Each course would have a limited number of access passes, which can be resold once the student has completed the course. For e-learning providers, I think this kind of model encourages higher enrollment rates, extends the lifecycle of educational content and builds a sense of community ownership around the platform’s offerings.

Tokenized Rewards

The final use case of blockchain technology I want to mention in this article is tokenized rewards. Education platforms can create a crypto token and establish a market for it, giving it value. They can then distribute these tokens to learners as rewards for their educational achievements. These tokens could then be used to purchase further education or, alternatively, traded for cash, increasing the incentive for learners to enhance their skill sets online.

A Final Summary

The e-learning market must grow, for I see traditional educational systems becoming obsolete and failing to meet the needs of the job market. Blockchain technologies and tools can play a significant role in this growth.

When we examine how blockchain technology can be applied, we see potential in securing online learner profiles, enabling transparent credentials, establishing ownership of content and enhancing reward systems.

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