EDGECOINPAY: ITS GOT THE EDGE!
Blockchain has been around a little bit, but while cryptocurrencies are the first widespread application of blockchain technology, this is far from the only use for it.For starters, blockchains are distributed ledgers which are books where records, like accounting records or students’ grades, are kept. Most of these today are electronic, maintained using specialized software, and generally centralized. In a blockchain, each of the many individual digital ‘nodes’ keeps a full copy of an exact distributed ledger and also constantly verifies the integrity of both newly recorded information as well as the copy that it stores. If any or many of these nodes fail or are compromised, the ledger’s information remains intact. It’s easy to see how this could be beneficial in many fields. But besides holding ledgers, blockchains also offer other services, such as smart contracts and a built-in rewards system.
Blockchains and Education
There are many applications and benefits of blockchain-based ledger technologies for education:
In 2017, MIT began issuing digital, blockchain-stored diplomas to its graduates. Just like grades, a student’s diplomas and credentials could be issued and stored on a blockchain, with employers would be furnished with a link to a digital diploma.
2. Student records.
Academic transcripts are one of the most time-consuming, labor-intensive tasks in academic institutions today. Before issuing a certified transcript of a student’s grades, each entry must be manually verified to ensure accuracy.
3. Curricula storage.
If institutions want to store digital curricula, records, degrees and other information, that’s going to use a lot of file storage space. Saving everything on local hard drives brings us back to the issue of centralizing the files. If the hard drives are damaged or compromised in any way, that would be a big problem.
Undergrad and grad students, teachers, professors and researchers constantly generate quality material ethic can be rejected. But publishing on a blockchain could help new writers, researchers and many others break into the industry. Blockchains could also help with rights management and protection against piracy.
5. Record preservation
If a student transfers to another school in another country, there would be no need for transcripts, as the information is already on the state’s blockchain and the new school would just continue adding to the student’s account
Blockchains are already changing the economic landscape via cryptocurrencies; looking at how blockchains could impact education in 2020 and beyond, distributed ledgers and smart contracts could draw a whole new picture.
Towing the line of blockchain, Edgecoin is an Educational Stable Coin that provides an open payment system for educational institutions, where users create education-related payments such as for enrollment fees, accommodation, books, and all other educational spendings, via a decentralized application.
Stablecoins are cryptocurrencies where the price is designed to be pegged to a cryptocurrency, fiat money, or to exchange-traded commodities without the volatility. They are built on blochchains like Ethereum, Binance Smart Chains etc
Stablecoins are global, and can be sent over the internet. They're easy to receive or send once you have an Ethereum account.
Demand for stablecoins is high, so you can earn interest for lending yours. Make sure you're aware of the risks before lending.
Stablecoins are exchangeable for ETH and other Ethereum tokens. Lots of dapps rely on stablecoins.
Stablecoins are secured by cryptography. No one can forge transactions on your behalf
Most Stablecoins are linked to the value of their corresponding fiat currency. In this case, the Edgecoin Stablecoin is linked to the safest currency which is the U.S. dollar at a ratio of 1:1. So, 1 Edgecoin = 1 dollar. Thus Edgecoin Stablecoin would have the same exchange value as fiat currencies when used to process education-based transactions.
About the Author
Joseph Johns is a successful Emergency Medicine Physician and an ardent cryptocurrency and Blockchain connoisseur
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