Sunday, August 18, 2019

Blockchain Gets Real-Life Implementation at Morgan State University

In Morgan State University, Baltimore the school’s administrators have decided that students need to have an experience in Blockchain technology. The school noted that Blockchain use cases would encourage its adoption and also educate the next workforce on its use.

First Blockchain Course Held in The School

Therefore, the first Blockchain course in the school was held earlier this week. This is a course that had in attendance reputable members of the industry such as ConsenSys. As part of the Blockchain course, students were to form a team and carry out projects where Blockchain technology will be applied.

First of all, each team was to outline the common problems faced by the students of the campus. They could now use decentralized apps and Blockchain technology to solve them. Students were also to note the regulatory guidelines that may pose limitations to the application of these tools.

Students to Use Cryptocurrency and Smart Contracts

Accordingly, five teams were formed, and they settled to use cryptocurrency and smart contract tools. This will allow Blockchain technology to be applied in different areas of the school where improvement is needed. Most especially, decentralized systems were going to be developed, and as such, it will allow parties to transact directly.

The first team seeks to develop a platform that will bring about efficiency in loans. This platform will enable students to borrow money from the school’s Alumni. Here, the money will be paid in the form of cryptocurrency to encourage its use. It is expected that the school will less influence the processes involved in requesting for loans.

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More Projects to be Executed by Teams

The second team wants to allow students to order for late night food even after dining halls have closed. In this case, other students will cook for them and get paid with digital assets. Alternatively, the funds will be held on the digital platform as an escrow account and will only be paid to the cook once the food is delivered.

There is also a team whose aim is to develop a system that will enable students to rent books and determine the rental price depending on how long the book is kept. Therefore, this may be more cost-efficient than the current methods used. The team is going to utilize dApp and smart contracts to achieve this.

More schools are encouraging the use of Blockchain technology. The University of Tokyo is set to offer a Blockchain course, and the same goes for the University of Liechtenstein. Both schools will help to foster the growth of Blockchain around the world. But first, they need to educate those who may be interested in being professionals in operating this technology.

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