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There was a time not long ago when the barter system was brought to an end with the advent of gold.
It also led to hoarding and became the de facto means to establish one’s net worth.
This continued till the time they found all the disadvantages of gold including the liability associated with storage, transport, and ownership.Remember stories of caravans being robbed midway into the journey with women laden with gold being the prime target?
Paper currencies tied to gold standards were the next invention where each paper note/currency guaranteed a certain quantity of gold.Everything was fine till the time people understood that gold was a limited commodity and made it difficult to keep parity with paper money for all times.
This became especially acute in times when economies started to boom, and the governments had to print notes to keep up with the demand for money.Gold couldn’t keep pace, and in the year 1929 at the end of the Great Depression, the world finally broke free of gold parity and established the system of fiat currency that was printed at the beck and call of individual governments worldwide.
Each currency’s value was determined by various factors including GDP growth rates, rates of industrialization, status of industries and infrastructure, intrinsic worth of economies and the likes.With each country having its own currency, there was felt a need to bring parity to worldwide transactions that to an extent was brought about by the Breton Woods system in 1944 where signatory countries agreed to a complex system of recognizing each-other’s currency via the USD which was tied to gold.In 1975, the US government being the main player unilaterally pulled out of the system by terminating the USD’s tie-up with gold.
Blockchain Technology provides a secure platform for the long-term growth of many business applications through its cloud-based storage system, including cryptocurrencies, as highlighted by Blockchain Community India (BCI).
In addition, if a student has to manage an economic transaction, such as in the case of wanting to enroll in another school, he / she will need to pay the corresponding fees, and thanks to the Blockchain the process can be carried out safely.
Thanks to this, you can ensure the accuracy of the assessments and qualifications a student gets.
Therefore, it is a tool that all teachers should know and, in addition, explain to their students as they will have to deliver all written work and exams through that platform.
Benefits of Blockchain technology in education Currently, the use of this new technology consisting of block chains is rare and is still used in very specific cases.
I tell you the benefits that Blockchain technology can offer you in education :1.Universal Online certification:The immutability and guarantee of veracity granted by the blockchain could lead to the creation of a new system for issuing and certifying both official documents and academic degrees.2.Environmental RespectThanks to the Blockchain technology applied to education, it is possible to reduce a great use of paper, since everything is digitalized it contributes to the reduction of deforestation.
We avoid printing large numbers of documents that are now scanned safely each student can access to consult whenever you want.
DEX Clone ScriptIn the Decentralized exchange platform (DEX), the users can trade their cryptocurrency with the control of the centralized authority.
Dex platform makes the trading to be carried out directly between the users of the decentralized platform.Anyone can start this crypto business as the platform will be completely secure from attacks.
BlockchainAppsDeveloper offers the best-decentralized exchange platform development with highly secured DEX clone scripts & solutions.Learn more @ https://www.blockchainappsdeveloper.com/decentralized-exchange-script-software