Fisher Phillips' Cryptocurrency and Blockchain Practice Group Chair Discusses the Use of Blockchain Technology in Education

In an interview with NAIS, chair of Fisher Phillips’ Cryptocurrency and Blockchain practice group, Phillip Bauknight shares his insight on how schools can benefit from the use of blockchain technology and smart contracts.

He explains how schools could use blockchain to set specific goals in annual performance plan documents and create smart contracts with donors. Donations could be automatically triggered and executed as the school meets each particular milestone or performance objective, allowing schools to collect promised donations more efficiently.

Phillip also discusses storing student records on the blockchain. “Diplomas, for example, could be issued on the blockchain rather than in person, giving students permanent control and ownership of a record that can’t get lost or destroyed,” said Phillip. He believes schools should continue to evaluate the benefits of the blockchain.

To read the article visit NAIS.