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Blockchain technology enables the creation of a decentralized environment, where transactions and data are not under the control of any third party organization. Any transaction ever completed is recorded in a public ledger in a verifiable and permanent way. Based on the blockchain technology, we propose a global higher education credit platform, named EduCTX. This platform is based on the concept of the European Credit Transfer and Accumulation System (ECTS). It constitutes a globally trusted, decentralized higher education credit, and grading system that can offer a globally unified viewpoint for students and higher education institutions (HEIs), as well as for other potential stakeholders, such as companies, institutions, and organizations. As a proof of concept, we present a prototype implementation of the environment, based on the open-source Ark Blockchain Platform. Based on a globally distributed peer-to-peer network, EduCTX will process, manage, and control ECTX tokens, which represent credits that students gain for completed courses, such as ECTS. HEIs are the peers of the blockchain network. The platform is a first step toward a more transparent and technologically advanced form of higher education systems. The EduCTX platform represents the basis of the EduCTX initiative, which anticipates that various HEIs would join forces in order to create a globally efficient, simplified, and ubiquitous environment in order to avoid language and administrative barriers. Therefore, we invite and encourage HEIs to join the EduCTX initiative and the EduCTX blockchain network.
Turkanović et al. (Mon,) studied this question.