Benefits of Blockchain Technology:

Integration of trust and transparency between job seekers and employers

• By using Blockchain, students cannot alter their creditability like grades, degrees, and certification, thus guaranteeing the employers that the job applicants have the necessary skills for the job post.
• This helps employers to find better matches for the position the job seekers have applied for. This particularly happens through distributed ledger technologies.

 Increased efficiency in existing business processes

• Blockchain-based University diplomas are virtual transcripts or records of all educational achievements throughout one’s entire lifetime. This is the ultimate benefit of Blockchain in education.
• This variable transcript, which is lifetime value, reduces CV fraud and reduces the overhead related to credential verification in every industry sphere

Blockchain File storage

• An institution deals with many records like digital curricula, degrees, and other information, records that will use a lot of file storage space. If they store that to a local drive, then it could be a question of centralizing information.
• Secondly, they can store it on the cloud, which may charge extra costs. Here Blockchain could be a possible solution that acts as decentralized file storage. A possible solution would be Blockchain-based cloud storage services like Filecoin.

Enhancement of security and efficiency for educational institutions and learners

• Blockchain has the potential to ensure the identity, privacy, and security of students’ data. Through its immutability and hash function, Blockchain provides security and validity.
• As a result, the students cannot alter their past educational data stored on the Blockchain, which is very easy in the case of paper records. You can ensure the privacy of data by not storing it instead using a hash. Or you can encrypt the data before storing it on the Blockchain.