STUDENT COIN - Using Blockchain to Revolutionize Higher Education
Most people know blockchain as a technology that power Bitcoin, but they never know that this same technology has a lot use cases touching nearly every industry. Blockchain has the power to change the way people do their business if well leveraged. The power of Blockchain can never be overemphasized. To be precise, higher education face some challenges which include; transfer evaluations, accessing credentials and courses, cost, and enrollment decline which are related to student’s dissatisfaction and budget cuts are all what is degrading the industry. Its really pitiable that all these problems are not sorted out till now. Surprisingly, the potential of Blockchain is obviously yet to be tapped as regards higher education. Though, a well renowed cryptocurrency company – Ripple, is currently collaborating with leading universities around the world to support and accelerate academic research, technical development and innovations in Blockchain, cryptocurrency and digital payments. This is beginning to revolutionize the academic industry in positive direction.
There are lot of hype as regards Blockchain, sometimes, it is regarded as bigger-than-the-internet when it comes to its positive impact in the economy. But come to think of it, without no doubt, Blockchain is living up to its expectations and its potential applications are stupendous. Storing information about finances and other transactions as “blocks” across a network instead at one central storage. Blockchain technology creates that transparency, simplicity, interoperability, easy verifiability, security, which is hard to tamper with. The technology is currently being used to securely process financial transactions in various sectors such as supermarkets – to track items in their food supply chain, Health care – to track patients medical records, and even Universities – using Blockchain to issue digital degrees that is easily verifiable by employers.
In this article, I will be discussing ways in which Blockchain will transform higher education via a crypto project called Student Coin, which is the first true university’s Blockchain.
The Potential of Blockchain on Higher Education
Three ways by which blockchain have been applicable in the higher education have been highlighted below;
- New college funding options and creation of new markets for digital assets – Higher institutions that accepts cryptocurrency as a means of payment, eliminate the transaction fees charged by students. Previously, students had been charged greatly when making transactions via credit cards. Cryptocurrency will eliminate this challenge faced by students. Its another good example on how Blockchain could be used in higher education to easily create and trade digital assets.
- Improved record-keeping – Blockchain's easy traceability and security is paving way for student as regards students records. With the help of Blockchain, Office of the Registrar can easily manage students records, registrations, and transfer evaluations. It can also help in storing students transcripts, reduce fraudulent degrees, and to help to verify accreditation of colleges which is extremely difficult to process in some countries, enabling them to verify quality or qualification to teach.
- Creation of promising business model – Keeping records using Blockchain had been the main use case in higher education. Creation of disruptive business model is another aspect yet to be exploit. With the help of Blockchain and Smart Contract Technology, administrative tasks are automated, faculty protection, security and students, and reduction of administrative overhead costs are attained.
Introduction to Student Coin (STC)
This is a cryptocurrency specifically made for higher education – universities. This project will be run by students, faculties, and entrepreneurs from 17 universities. Some of the universities include; Kozminski University, New York University, Harvard University, Stanford University, University of Oxford, London School of Economics, University of Warsaw, Maastricht University, or Imperial College London. All which are reputable schools around the world. The Student Coin will allow universities around the whole world to seamlessly connect and interact with each other in non-monetary tokenized way, as well as easy storage and transfer of data using Blockchain technology. Student Coin will also allow universities to create their own token-based cryptocurrency.
The project will educate students about Blockchain technology, cryptocurrency exchanging, crypto markets which will make them to be able to trade, invest, send and receive Student Coin. More universities would be added in time to give opportunities to other higher institutions. With this, students, faculties, and alumni from the supported universities are opportune to receive a one-time 100 STC airdrop using their university email.
STC Goal
To create the first worldwide academically-inclined Blockchain, which will b supervised by universities and research faculties, aiming to enhance modern education.
Student Coin Ecosystem
STC ecosystem is comprised of STC Terminal which is a software that will be used by universities, students, individuals and corporations to manage their tokens, STC Exchange - where startups fundraising will be available and all STC-based tokens would be traded only to STC, and STC App - which will be available in android and IOS version to store, swap, and use the utility tokens provided by Student Terminal. These will work together to give higher education a place to be.
Student Coin Token
STC token is an utility coin which uses Waves Blockchain as well as Ethereum Blockchain which offers secure transfer, transitions, and token exchange. Don’t be scared, STC token will be able to be swapped from one Blockchain to another (Wave – Ethereum). The token has a total supply of 10 000 000 000.
Student Coin Token Use Cases
Most of the use cases of this token will be used in main phase of the utility launch (phase 6). However, the token is presently use for;
- Voting of project’s development plan
- Educating students on how to trade and exchange assets
- Integration of student club and organizations
- Integration of students from different schools and regions
- Creation of first complex Blockchain education panel
- Students to sign petitions using the native token as the Blockchain proof of identity
- Creation of multi-university system for both Internal and external value transfer
In the main phase of the token launch (phase 6), the STC will be used for;
- Creation of organization tokens
- Creation of Startup token
- Creation of personal tokens
- Creation of dedicated university tokens based on STC
- Funding the student’s research labs
- Funding the student’s charity projects
- Building the close-knitted Blockchain research society
- Tokenizing the basic utilities and university life expenses
- Trading STC-based tokens at STC Exchange
- Performing the fundraising for organizations and projects at STC Exchange
- Performing the fundraising for the university-based Startups at STC Exchange
- Student clubs fund governing
- Currency for online lecturers and webinars
- Payment option for the tuition fees
- Unified currency for Erasmus and other exchanges program
STC Team
The team is a well experienced in Blockchain and Smart Contract Technology, marketing, and business development. Your investment are definitely in the right hands with these professionals.
In conclusion, new ways to apply Blockchain technology in the higher education sector are emerging all the time. Over the past years, more high-profile projects have received significant media attention, fueling further interest in the technology. The Gartner 2019 CIO Survey revealed that 2% of higher education respondents have already deployed Blockchain. Another 18% of respondents were planning to do so within the next 24months. The use case of Blockchain cannot be overemphasized. It had been applied to many sectors and yielding good fruits. Student Coin is here to create a connection among schools around the world using Blockchain technology as the basis. STC is set to inspire students, including people with diverse backgrounds and experiences, to become part of the workforce of the future – in Blockchain, distributed computing, banking and Fintech. STC is over proud to support universities on research, new curriculum development and technical projects.
For more information, visit the links below;
Written by Jerryco (bitcointalk username)
Waves address — 3PAy7nNcFnGKHNfLP8M7sEC2GcHxpyJev8y
Virtual & Interim Association Executive Director/ President/ Nonprofit revenues, membership, public relations and government relations consultant. Owner of Our Executive Director Association Management services.
4yGreat post!
Professional Web3 copywriter ✍️, CEO E-Forex, Crypto Inclined 📉📈
4yImpressive write-ups. Nice project
Salesperson at Hairdresser Career Development Systems
4yBlockchain is revolutionizing the whole world, Higher education is another aspect it affects effectively. Thanks for sharing.
We simplify building Virtual Teams I Global Staff I Melbourne Based I Business Owner ⚖️ Helping you Scale your Business 🌏 Keynote Speaker 🏆 Change Champion
4yAn informative article here Emmanuel Owoeye
Teaching Assistant at Gloryview
4yThis is amazing, I'd love to know more about the project. Thanks for sharing.