Need for Indian government to emphasize blockchain education initiative
By Tapan Sangal
Blockchain, a term that was not used a few years ago, is now the talk of the town due to 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 been making waves as one of the most disruptive and promising technologies of this era. Most people have associated it with the beginning of the dot-com era, which revolutionized how businesses can operate and created industries worth billions of dollars. This analogy directly invokes the need to accelerate the study of this innovative new technology in greater depth.
Blockchain education can be delivered in several ways. The educational curriculum can accommodate subjects that teach students about Blockchain in schools and institutions of higher learning. The central government may introduce blockchain education in the National Education Policy (NEP). Special courses can also be curated in colleges/institutions to teach people how to create and implement Blockchain.
Companies developing blockchain technology and even those adopting it can launch initiatives to sensitize and educate the public about Blockchain, its uses and potential. The government should also focus on making legal provisions – cybercrime, smart contracts, etc.
Why is blockchain education needed?
Blockchain education is critical to achieving financial freedom and personal wealth growth. To understand the importance of blockchain education, one must first understand the technology itself and its capabilities.
The most basic explanation of this modern technology is that it is a decentralized ledger that can store data progressively, but stored data cannot be altered or changed. Blockchain’s decentralized nature makes the ecosystem fraud-proof and transparent. In addition, the blockchain network is supported by computers distributed around the world instead of the traditional approach, where centralized servers support networks.
In today’s world, blockchain technology is revolutionizing every aspect of human life. With the use of artificial intelligence, the Internet of Things (IoT), the availability of cheap computing and global internet services, innovations can be brought to even the smallest processes and applications, from financial transactions and election polls to academic lessons and certificates. .
Why is Blockchain the future?
Blockchain education will result in more skilled blockchain experts, leading to secondary benefits of blockchain education, such as creating jobs. It provides a creative approach to storing information, conducting transactions, performing tasks and building trust.
Blockchain also benefits education by increasing transparency, improving accountability through smart contracts and stimulating learning. For example, Blockchain’s immutable ledger technology compiles a chronological list of events that have occurred in real time. This inherent quality can help track the student’s academic and career trajectory.
According to the International Data Corporation (IDC), worldwide spending on blockchain technology across all sectors is projected to grow by more than $14 billion by 2023. Moreover, cryptocurrencies are only the first use case of blockchains.
The “National Strategy on Blockchain”, which was released by the Ministry of Electronics and Information Technology (MeitY), is a move towards enabling trusted digital platforms to create a blockchain framework for developing applications based on this modern technology.
How can business organizations help?
Organizations can initiate and promote apprenticeship and internship programs to help advance Blockchain education. We also feel that there is an urgent need to start legal blockchain education initiatives to remove the roadblocks in the distributed ledger technology space. There is also a significant gap in the field of blockchain regulatory compliance. We feel that organizations should start emphasizing this ignored field that can exponentially improve the space of blockchains.
The author is Founder, CEO, Evangelist, P2E Pro. The views are personal.
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