21st Century Learning and Teaching

Infographic outlining what blockchain adoption could look like, the 10 key hurdles to adopting blockchain in financial services and more

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If the blockchain frenzy and the hype surrounding it is anything to go by, blockchain is set to revolutionise everything from the way in which we make payments to the way in which we drink beer. I may have made that last bit up – but you get the idea that in and amongst the buzz there are some pretty wild predictions being made! So in this post, i thought it would be useful to take a step back from the hype and understand “what is blockchain?” If you keep coming back to this fundamental question, i think it can help you navigate and understand what use cases are feasible and which ones are not. Through these 6 awesome infographics we get a good understanding of what blockchain is:

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When you hear the word blockchain does it make your head spin? Wall Street analysts and fintech experts claim it could make traditional banking obsolete; Airbnb just acquired a team of blockchain experts; and the country of Estonia will use it to secure a million patient health records.

But what exactly is blockchain, and what are its implications for higher education?

Originally created as the underlying database for bitcoin (the peer-to-peer digital asset and payment system), blockchain’s technology is now being seen as valuable and purposeful beyond the financial sector. The advantages blockchain provides to store information on a secure, permanent, historical ledger that can be both public and private will change how edtech applications approach student data.

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No central authority

Blockchain has been hailed by admirers as holding the revolutionary promise that the internet did two decades ago. Business figures from Microsoft’s Bill Gates to Richard Branson, the founder of the Virgin Group, have extolled its potential; on a trade mission to Asia in August, David Cameron, the UK prime minister, included a blockchain expert among his entourage.

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BTC’s cutting edge patent pending election system process uses the blockchain for an extra level of security not found in any other voting solution. Because blockchain-based records are time-stamped and signed, post-election fraud is rendered virtually impossible. The voting process begins with tried and true paper ballots. This removes any voter confusion about how to properly vote and ensures that from the onset there is an indisputable audit trail, as physical paper ballots remain the ultimate document of record.

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The Ethereum Computer

The Ethereum Computer brings smart contracts and blockchain technology to the entire home.

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The Blockchain Futures Lab at Institute for the Future is a research initiative and a community for identifying the opportunities and limits of blockchain technologies as well as their social, economic, and political impacts on individuals, organizations, and communities over the coming decades.

The program brings together the leading developers of blockchain tools and applications with organizations that seek to understand the implications of this highly disruptive technology—and perhaps also to create parts of the new ecosystem of infrastructures and markets that it will drive.

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Banks including J.P. Morgan Chase and Citigroup have successfully tested the record-keeping technology behind bitcoin on credit-default swaps, a move that could help it gain a foothold in mainstream finance.

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From 2008 to date, no other technology has been the subject of such fervent debate. Irrespective of your opinion, the rise in popularity of cryptocurrencies cannot be ignored. Today, there are a number of billion dollar businesses that accept Bitcoin as a form of payment. These include Dell, Reddit, Expedia, PayPal, and most recently, Microsoft.…

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The blockchain is a revolution with endless applications. Let’s get ready for it!

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