What is Blockchain?

by Sandy Bansal, Vice-Principal at Amerikanska Gymnasiet – Sweden

Leading your International School (#LYIS) not only prepares leaders with the practical aspects of leading a school, we also keep you aware of all the happenings in the digital society.

We leave much of the tech responsibility to the one who is in charge of the hardware or software in our schools. As a leader, you may only get involved when it is too late. In this blog, we will discuss some of the current tech happenings in the world of education.

If there is any digital or tech information you would like to share with us, then get in touch with us @LYIS, leave a comment below, or contact me via LInkedIn. 

Blockchain technology is gaining momentum and is being adopted in various industries, including finance, healthcare, and logistics. Blockchain technology has the potential to disrupt various industries by offering increased security, transparency, and efficiency. Here, we discuss. 

What is blockchain?

Blockchain is a digital ledger technology that allows for secure and transparent storage and transfer of data, such as financial transactions or personal information, without the need for intermediaries such as banks or other financial institutions. It is a decentralized, distributed database that maintains a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data, making it tamper-resistant and difficult to alter without the consensus of the network. Blockchain technology is often associated with cryptocurrencies such as Bitcoin, but it has many other potential applications in industries such as healthcare, supply chain management, and voting systems.

Blockchain technology has several benefits and implications, including:

  1. Security: Blockchain is a tamper-proof and secure system, as it is designed to be resistant to hacking, cyber-attacks, and other forms of unauthorized access.
  2. Transparency: The decentralized nature of blockchain ensures transparency and accountability, as all transactions are recorded and made visible to all participants on the network.
  3. Efficiency: Blockchain eliminates the need for intermediaries and reduces transaction costs and processing times, making it an efficient and cost-effective alternative to traditional systems.
  4. Trust: Blockchain technology is built on a trust-based system, where trust is established through cryptographic algorithms and consensus mechanisms, making it a reliable system for transactions and data storage.
  5. Decentralization: Blockchain is a decentralized system, which means that there is no single point of failure or control, and decision-making is distributed across the network.

The implications of blockchain are vast and varied. Here are a few examples:

  1. Financial services: Blockchain has the potential to disrupt the traditional financial services industry by reducing the need for intermediaries and increasing transaction speeds and security.
  2. Supply chain management: Blockchain can be used to track and verify the origin and authenticity of products, making it easier to trace the supply chain and reduce fraud and counterfeiting.
  3. Healthcare: Blockchain can help improve patient data management, clinical trial transparency, and drug supply chain management, leading to better patient outcomes and reduced healthcare costs.
  4. Identity management: Blockchain can be used to securely store and manage digital identities, reducing the risk of identity theft and improving privacy and security.
  5. Government services: Blockchain can be used to improve the efficiency and transparency of government services, such as voting systems, land registry, and tax collection.

Overall, blockchain technology has the potential to transform many industries by improving security, efficiency, transparency, and trust in transactions and data management.

How it works in Education

Blockchain technology has several potential applications in the education sector, including:

  1. Digital credentialing: Blockchain can be used to issue and verify digital credentials, such as degrees, certificates, and diplomas, making it easier for employers and educational institutions to verify the authenticity of these credentials.
  2. Secure data storage: Blockchain can be used to securely store student data, such as academic records, transcripts, and attendance records, making it easier to access and share their data with employers and educational institutions.
  3. Smart contracts: Blockchain can be used to automate certain educational processes, such as the payment of tuition fees or the disbursement of financial aid, using smart contracts.
  4. Micropayments: Blockchain can be used to facilitate micropayments for educational content, such as textbooks or online courses, without the need for intermediaries such as publishers or payment processors.
  5. Student identity management: Blockchain can be used to securely manage student identities, such as digital IDs, reducing the risk of identity theft and improving privacy and security.

In practical terms, blockchain can work in education by creating a secure, decentralized network where students, educational institutions, and employers can share and verify educational data, credentials, and achievements. This can help reduce the risk of fraud and increase trust and transparency in the educational system. By leveraging blockchain technology, educational institutions can improve efficiency, reduce costs, and enhance the overall educational experience for students.

How do you teach blockchains in different subjects?

Blockchain technology can be taught in various subjects, including:

  1. Computer Science: In computer science courses, blockchain can be taught as a distributed database technology, with a focus on topics such as cryptography, consensus algorithms, and smart contracts.
  2. Economics and Finance: In economics and finance courses, blockchain can be taught as a disruptive technology with the potential to transform traditional financial systems, including topics such as cryptocurrencies, ICOs, and tokenomics.
  3. Law and Ethics: In law and ethics courses, blockchain can be taught as a new technology that raises legal and ethical questions, such as the regulation of cryptocurrencies, the protection of personal data, and the potential impact on society.
  4. Business and Entrepreneurship: In business and entrepreneurship courses, blockchain can be taught as a new business model that enables decentralized systems and peer-to-peer transactions, including topics such as blockchain-based supply chain management, decentralized finance, and blockchain-based crowdfunding.
  5. Environmental Science: In environmental science courses, blockchain can be taught as a technology that can help address environmental issues, such as tracking and verifying the sustainability of products and reducing carbon emissions.


Overall, blockchain technology can be taught in various subjects, depending on the specific applications and use cases. By incorporating blockchain into different subjects, students can gain a multidisciplinary understanding of the technology and its potential impact on society.

Sandy Bansal is Vice-Principal at Amerikanska Gymnasiet – Sweden

To connect with her on LinkedIn click HERE

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