Need for Indian Government to Emphasize Blockchain Education Initiative

By Tapan Sangal

Blockchain, a term that was little used a few years ago, is now being talked about because of its application in the financial ecosystem. However, its impact extends beyond the scope of the financial sector. Being decentralized and immutable, Blockchain can find applications in healthcare, defense, infrastructure, and education.

Blockchain Education: The Key to Economic Growth

Blockchain technology has made waves as one of the most disruptive and promising technologies of this era. Most people associated it with the dawn of the dot-com era, which revolutionized the way businesses can operate and created billion-dollar industries. This analogy directly invokes the need to accelerate further study of this innovative new technology.

Blockchain education can be delivered in several ways. The curriculum can accommodate subjects that teach students about Blockchain in schools and higher education institutions. The central government could introduce blockchain education in the National Education Policy (NEP). Special courses can also be held at colleges/institutions to teach people how to create and implement Blockchain.

Companies that develop blockchain technology and even those that adopt it can launch initiatives through which they can raise awareness and educate the public about blockchain, its uses and its potential. The government should also focus on creating legal provisions – cybercrimes, smart contracts, etc.

Why is blockchain education necessary?

Blockchain education is key to achieving financial freedom and growing personal wealth. To understand the importance of blockchain education, one must first understand the technology itself and its capabilities.

The most basic explanation for this modern technology is that it is a decentralized ledger that can store data incrementally, but the stored data cannot be altered or modified. The decentralized nature of Blockchain makes the ecosystem fraud proof and transparent. Additionally, the blockchain network is supported by computers distributed around the world rather than the traditional approach, where centralized servers support the networks.

In today’s world, blockchain technology is revolutionizing every aspect of human life. With the advent of artificial intelligence, the Internet of Things (IoT), the availability of cheap computing and global internet services, innovations can be introduced into the tiniest processes and applications, ranging from financial transactions and electoral voting to academic lessons and testimonials. .

Why is Blockchain the future?

Blockchain education will result in more qualified blockchain experts, which will lead to secondary benefits of blockchain education, such as job creation. It provides a creative approach to storing information, executing transactions, performing tasks, and building trust.

Additionally, Blockchain benefits education by increasing transparency, improving accountability through smart contracts, and encouraging learning. For example, Blockchain’s immutable ledger technology writes a chronological list of events that have happened in real time. This inherent property could help track a student’s academic and professional trajectory.

According to the International Data Corporation (IDC), global blockchain technology spending across all industries is expected to increase by more than $14 billion by 2023. Additionally, cryptocurrencies are just the first use case. blockchains.

The “National Blockchain Strategy”, as presented by the Ministry of Electronics and Information Technology (MeitY), aims to enable trusted digital platforms to create a blockchain framework for application development based on this modern technology.

How can businesses help?

Organizations can initiate and promote apprenticeship and internship programs to help propel the state of Blockchain education. We also believe there is an urgent need for legal blockchain education initiatives to break down barriers in the distributed ledger technology space. There is also a significant gap in the area of ​​blockchain regulatory compliance. We believe that organizations should start giving importance to this overlooked area that could exponentially improve the field of Blockchains.

The author is Founder, Leader, Evangelist, P2E Pro. Views are personal.

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