**2.2 Blockchain**

Blockchain technology ensures that the transactions and data are not controlled by any organization, which helps in creating a decentralized environment as well as enabling safe and secure transactions. Each transaction is recorded in a public ledger in a verifiable and permanent way [14]. Blockchain is a technology being used for cryptocurrency; however, because of its security protocols and safety, it is being adopted in various areas of business. Various case studies and use cases have been developed for blockchain in higher education. Processes, such as sharing student data between institutions for a semester exchange, student transfers, or sharing students' academic data with recruiters, are a few instances where blockchain can be applied. This technology has been already applied by various institutions in different areas. For example, MIT has applied Blockchain to validate its certificates, whilst the University of Nicosia has used it for smart contracts and to accept cryptocurrency as a form of payment [15]. Many applications with different use cases are emerging, which can be student-centric solutions, such as automatic recognition of credits, or institution-centric ones, such as streamlining the process of diploma verification and virtual lifetime learning passport, whilst securing the issued certificates permanently. A recent study [16] has led to the development of a global higher education credit platform, named EduCTX, which constitutes a globally trusted, decentralized higher education credit, and grading system that can offer a globally unified viewpoint for students, higher education institutions, and other potential stakeholders. EduCTX prototype implementation delivered effective and secured management and control of ECTX tokens, representing the credits that students gained for completed courses. Regarding safety and security issues, blockchain technology can be considered an effective solution but the cost remains high, hence it is not feasible to be applied across all institutions.
