MIT Uses Blockchain to Give Students the Power of Autonomy

The Massachusetts Institute of Technology has embraced blockchain technology to usher in a new era of digitized academic diplomas.
Blockchain may be most well known for being Bitcoin’s supporting technology, but it can offer so much more. This decentralized network provides its users with immutable records and security, showing businesses over a range of industries how beneficial it can be for them. This is because each transaction, or block, on this distributed database is encrypted and timestamped once it is recorded. It is then added to the previous block on the chain, hence the name, thereby creating a secure timeline for each transaction.
Because it is a consensus-driven network, each record needs to be approved by the other users. In addition, these records cannot be changed or altered in any way as it would affect the rest of the blocks on the chain. Now blockchain technology finds itself in the hallowed halls of the Massachusetts Institute of Technology.

MIT has issued traditional paper credentials to more than 207,000 students for nearly 150 years, but 2017 saw something different. As its name suggests, MIT embraces the innovations of technology, and what better way to do this than to take advantage …

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