Report on ‘Blockchain-Powered Academic Bank of Credit for the Educational Institutes’

Name of the Activity: Blockchain-Powered Academic Bank of Credit for the Educational Institutes

Type of Activity: One Day Seminar

Date/ Duration of Activity (from-to): September 30, 2023

Time: 10:00 AM – 12:00 PM

Details of Resource persons: Rohhit Tandon, CEO of Yoonify, along with Mr. R.K. Chhajer, Regional President of the Indo-American Chamber of Commerce

of Participants: 137 students and teachers from the BBA and the science section

Objective of the event: To create an awareness regarding ‘Academic bank of credits’

Brief description of the event: A blockchain is a decentralized and transparent digital ledger technology that records transactions across multiple computers, ensuring security and immutability. It comprises a chain of blocks, each containing a group of transactions, safeguarded by cryptographic security and consensus mechanisms to maintain data integrity and decentralization. Originally designed for tracking cryptographic transactions, it has since demonstrated its potential in various domains, including education, healthcare, and efficient farming. In an increasingly corrupt world, securing academic information is crucial for students. Blockchain technology offers a solution in the form of an “academic bank of credit” in the educational sector. This system incorporates encryption, with one key accessible to the student and the other held by the organization, preventing third-party access. It aligns with the National Education Policy (NEP-2020) and tracks academic degrees and diplomas through hashing, enhancing security even within a credit transfer system. Our college, The BESC, foresaw the importance of such a decentralized system ahead of the university and has partnered with Yoonify, a multinational company specializing in decentralized systems in the Ed-tech and financial sectors. To explore the potential of blockchain in the academic bank of credit, a seminar Blockchain-Powered Academic Bank of Credit for the Educational Institutes was jointly organized by the Department of Computer Science and the Department of BBA on September 30, 2023, at the 6th-floor concept hall of our college. The seminar was coordinated by Dr. Pinki Saha Sardar, Vice Principal (Science Section) and Dr. Tridip Sengupta, Coordinator (BBA Department) under the guidance of Dr. Suman K. Mukherjee, Director General. The convenors of the seminar were Mr. Utsab Mukherjee, Faculty of the department of Computer Science and Ms. Sutapa Banik, Faculty of the department of BBA. The event commenced with a welcoming address by Dr. Mukerjee. Subsequently, Mr. Rohhit Tandon, CEO of Yoonify, along with Mr. R.K. Chhajer, Regional President of the Indo-American Chamber of Commerce, delivered a talk on the significance of Blockchain in the context of the academic bank of credit.

Outcome of the event: The event resulted in both teachers and students gaining a profound understanding of the immense potential of blockchain technology within the academic realm. They grasped how it could revolutionize the management of academic credits. The session also provided students with a deep insight into blockchain and its practical applications in handling academic credit banks, facilitated by an engaging question and answer segment that left them enlightened and inspired.