The COVID-19 pandemic has exposed flaws across various sectors. As a result, a number of government departments are evaluating blockchain-based systems as possible solutions for challenges involving multiparty workflows, record-keeping, transparency and more.
For example, the United States Department of Education recently provided funding for the launch of the “Education Blockchain Initiative.” Referred to as the EBI, this project is led by the American Council on Education — an organization that helps the higher education community shape effective public policy — and is designed to identify ways that blockchain can improve data flow between academic institutions and potential employers.
Determined to seek out new technology solutions, ACE announced the “Blockchain Innovation Challenge” at the end of 2020 to find projects capable of reinventing the U.S. education and employment ecosystem. The challenge specifically focused on helping underserved populations that have been hit the hardest by the pandemic.
Louis Soares, chief learning and innovation officer of ACE, told Cointelegraph that as