There are some interesting things from the results of research on blockchain by the Joint Research Center, European Union Commission in 2017. Realizing the bright potential of the technology, they concluded that it was imperative to quickly implement blockchain in education. The research results are based on a number of small-scale experiments at the British Open University, the University of Nicosia, MIT and several educational institutions in Malta. At the same time it is used as a pilot stage to start further development.

The researchers admit, the initial conclusion of the study is that blockchain may replace existing student information systems. This includes the possibility of eliminating the role of third parties who “master” the traditional, centralized information system.

Research reveals that there are several aspects of the education system that can be changed once blockchain is embedded. First , blockchain technology will accelerate the application of a non-paper diploma or full digital certificate. All types of diplomas or certificates that have been and will be issued by educational institutions can be stored on the blockchain network securely and permanently. With the adoption of more advanced technology, it can be used to record and verify other educational data, such as grade lists and transcripts.

Second , in addition to permanent storage, diploma data is digital on the blockchain, easily and quickly validated for validity, without directly contacting the educational institution that issued it. In other words, the role of educational institutions can be reduced or eliminated altogether. Because the role is small, the chain process becomes faster. In a similar way, it is possible to trace the authenticity of the results of research or initial publications or citations.

Third , it can be used to facilitate payments between institutions. For example, proof of payment of student tuition at the bank is available on the blockchain . So, when taking the exam, the committee and the exam supervisor only need to verify its validity. No need to carry paper evidence, just use a special application on your smart phone. Can it be used directly for payment? Yes, of course!

This achievement must at least meet the following three minimum requirements: relying on open source software ( open source ), using open standards for data, and implementing data management solutions. This, according to the researcher, cannot be fulfilled by the current blockchain technology . It is important to note that the process towards that, inevitably requires regulation and standardization that will determine the expansion and acceleration of its implementation.

Another thing is that the blockchain that will be implemented must be able to accommodate the interests of European Union members equally and proportionally, considering the needs of different members. Thus, this will trigger the necessity for educational institutions to open their educational records to the public on the principle of transparency.

Policies and regulations by each country also need to be synergized in order to support the application of blockchain in the education sector which has been used as a place for the experiment. More concretely, there must be a special organization that handles it and has the spirit to innovate.

ABOUT EDGECOIN

EDGECOIN is a decentralized payment system that enables people to send and accept cryptocurrency with their mobile devices. It is an end-to-end payment system that allows users to pay with cryptocurrencies at physical stores. Blockchain technology will work with the existing payment networks and will allow users to pay in cryptocurrency with their smartphones, which will be converted into fiat money at the point of sale. EDGECOIN’s main goal is to solve the problem of lack of payment methods for people who have limited access to banking. It aims to provide a full-service cryptocurrency platform that will allow anyone to use any cryptocurrency in their daily lives.

Edgecoin is a blockchain based platform that allows students to easily search for and buy educational materials online, directly from the creators. The students can also connect with tutors and get help with their homework. Teachers can create and sell their own educational materials. They can also create a profile on Edgecoin and get paid by the students for every hour of help they give. Edgecoin was founded by a team of crypto enthusiasts with an extensive background in Blockchain, and is the first of its kind to do so. The platform will be a marketplace for skills, offering a wide range of services for learning and improving skills, all of which can be paid in Edgecoin.

IMPORTANCE OF USING EDGECOIN

With the time, the internet world is becoming more and more globalized. The technological progress is a driving force of the globalization. The internet is expanding the boundaries of any country. Online businesses are growing and so does the number of online consumers. They are buying products and services online, but they are paying with their local currency. It is important to mention that the online consumers are not paying directly in cryptocurrency, but they are paying with their local currency and the online service provider is paying them back with cryptocurrency. That is why that the online service provider is in need of a way to convert his local currency to cryptocurrency. The most common way to do this is by using a payment gateway.

Edgecoin is an education based blockchain company who aims to make the world of education more efficient and fair by developing the first decentralized ecosystem to store and share academic records and qualifications. It is our goal to build a global marketplace for education. We will put all learners and educators, both formal and informal, on the blockchain, so they can exchange educational services and products. At the same time, we want to give academic institutions the ability to store their data in a decentralized database, which will enable students to easily verify the authenticity of their diplomas and grades. Every business has its own need and requirements for the payment for goods and services. Usually, they require a particular amount of money to be paid for a service or a product. The consumers have their own ways to pay with money. So there is always a need for a medium to facilitate the payment between a consumer and a vendor. A cryptocurrency known as Edgcoin was developed in the year 2017. The Edgcoin is a cryptocurrency and it is similar to the other cryptocurrencies that are already in use. The Edgcoin has been developed on the Blockchain technology.

CONCLUSION

Anytime we are able to share information and educate people about the blockchain technology, we are happy. We are happy to help people learn about blockchain technology and how it can be used to make payments for goods and services anywhere in the world. We hope that this blog post has helped you to learn a little bit more about the blockchain technology, how it can be used to make payments, and how Edgecoin can be used to make global payment possible with Edgecoin. Thank you for taking the time to read this blog post, we hope that it was helpful! If you have any questions or concerns about blockchain technology and how it can be used to make payments for goods and services anywhere in the world, please contact us anytime at our official projects links below.

Official links for more details:

Website: https://www.edgecoinpay.com/
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