Faculty Predict Virtual/Augmented/Mixed Reality Will Be Key to Ed Tech in 10 Years — from campustechnology.com by Rhea Kelly
Faculty in our 2017 Teaching with Technology Survey believe tech will play a positive role in the future of higher education — but some technologies will be more important than others.

Excerpt:

What technologies do faculty think will be important in education over the next decade? The most popular answer to that question by far was virtual/augmented/mixed reality, garnering 81 percent of responses (it topped the list last year as well). Mobile devices and apps, 3D modeling/scanning/printing, adaptive/personalized learning and video/streaming all rounded out the top five.

 

 

 

 

 

From DSC:
Great to see several of these items made the list. I would also add:

  • The use of Natural Language Processing (NLP) to allow more voice-enabled and voice-driven applications
  • Learning agents/bots (for example, a learning-related bot could go find out the top 50-100 jobs that employers are hiring for and present a list of potential digital playlists from a variety of providers that would help potential employees be able to do the work in those positions)
  • Blockchain and the use of web-based learner profiles
  • Artificial Intelligence / cognitive computing (which could be argued is already mentioned in the item re: adaptive, personalized learning)
  • Moving towards providing up-to-date streams of content (for purposes of lifelong learning and microlearning)

 Finally, it was great to see #9 on the list as I, too, believe that a next gen learning platform is needed:

 

The Living [Class] Room -- by Daniel Christian -- July 2012 -- a second device used in conjunction with a Smart/Connected TV

 

 

 

Google’s jobs AI service hits private beta, now works in 100 languages — from venturebeat.com by Blair Hanley Frank

Excerpt:

Google today announced the beta release of its Cloud Job Discovery service, which uses artificial intelligence to help customers connect job vacancies with the people who can fill them.

Formerly known as the Cloud Jobs API, the system is designed to take information about open positions and help job seekers take better advantage of it. For example, Cloud Job Discovery can take a plain language query and help translate that to the specific jargon employers use to describe their positions, something that can be hard for potential employees to navigate.

As part of this beta release, Google announced that Cloud Job Discovery is now designed to work with applicant-tracking systems and staffing agencies, in addition to job boards and career site providers like CareerBuilder.

It also now works in 100 languages. While the service is still primarily aimed at customers in the U.S., some of Google’s existing clients need support for multiple languages. In the future, the company plans to expand the Cloud Job Discovery service internationally, so investing in language support now makes sense going forward.

 



From DSC:
Now tie this type of job discovery feature into a next generation learning platform, helping people identify which skills they need to get jobs in their local area(s). Provide a list of courses/modules/RSS feeds to get them started. Allow folks to subscribe to constant streams of content and unsubscribe to them at any time as well.

 

 

We MUST move to lifelong, constant learning via means that are highly accessible, available 24×7, and extremely cost effective. Blockchain-based technologies will feed web-based learner profiles, which each of us will determine who can write to our learning profile and who can review it as well.

 

 

The Living [Class] Room -- by Daniel Christian -- July 2012 -- a second device used in conjunction with a Smart/Connected TV

 

 

 

 

 



Addendum on 9/29/17:



  • Facebook partners with ZipRecruiter and more aggregators as it ramps up in jobs — from techcrunch.com by Ingrid Lunden
    Excerpt:
    Facebook has made no secret of its wish to do more in the online recruitment market — encroaching on territory today dominated by LinkedIn, the leader in tapping social networking graphs to boost job-hunting. Today, Facebook is taking the next step in that process.
    Facebook will now integrate with ZipRecruiter — an aggregator that allows those looking to fill jobs to post ads to many traditional job boards, as well as sites like LinkedIn, Google and Twitter — to boost the number of job ads available on its platform targeting its 2 billion monthly active users.
    The move follows Facebook launching its first job ads earlier this year, and later appearing to be interested in augmenting that with more career-focused features, such as a platform to connect people looking for mentors with those looking to offer mentorship.

 

 

 

Blockchain predictions: What it means to you — from enterprisersproject.com by Minda Zetlin
How can you prepare for tomorrow’s blockchain world? TCS blockchain expert Andreas Freund shares perspective

Excerpts:

Blockchain technology will be as revolutionary as the internet, or maybe even the steam engine, predicts Andreas Freund, Ph.D., a senior manager for Tata Consultancy Services‘ blockchain advisory. It’s a bold claim. But in the first part of our two-part interview, Freund makes a strong case that blockchain technology will, at the very least, change our marketplaces and our enterprises in ways that are hard to imagine right now.

Blockchain protocols (best known for enabling cryptocurrencies such as bitcoin or ether) create a distributed ledger in which many nodes on a network each have a record of every transaction that has taken place. (See our recent story, Blockchain: 3 big implications for your company.)

“To really understand and appreciate the value blockchain can bring, you need to understand why it’s a paradigm shift,” Freund says. “You need to look at human beings. What defines us is our physical strength, our intelligence, and our trust relationships. The most fundamental shifts occur when these functions become automated and exponentiated.”

When we’re interacting through the blockchain, not only as human beings but as things as well, I can trust the transaction will be executed properly every single time. There’s no chance of tampering or censorship. From a human perspective, I can now trust you without trusting you.”

Right now, people who want to transact with strangers must use a trusted intermediary, as people do when they buy and sell items on the Amazon Marketplace, or buy and sell shares on an exchange, or, say, summon an Uber ride.

 

 

It’s more important to understand how blockchain will change many common practices than it is to understand the precise technology behind it, Freund notes. “In the end, how the technology works doesn’t matter,” he says. “TCP/IP enables the internet, although nobody really knows how it works. Without it, we’d still have the walled gardens of the AOL era.”

When it comes to blockchain, he says, “We are still in the AOL era. We have these walled gardens, with many companies experimenting and many public blockchains, but eventually there will be something equivalent to that moment when TCP/IP broke down those walls.”

 

 

 

From DSC:
What happens with blockchain-based technologies and systems could easily impact higher education in the future, especially in the area of credentials and competencies (i.e., did someone really take that class/module/certificate program/etc.?). Blockchain-based techs are likely a part of our future learning ecosystems and next generation learning platforms, and may significantly impact and better support lifelong learning.

 

 

 

 

 

Future Forward: The Next Twenty Years of Higher Education — from Blackboard with a variety of contributors

Excerpts:

As you read their reflections you’ll find several themes emerge over and over:

  • Our current system is unsustainable and ill-suited for a globally connected world that is constantly changing.
  • Colleges and universities will have to change their current business model to continue to thrive, boost revenue and drive enrollment.
  • The “sage on the stage” and the “doc in the box” aren’t sustainable; new technologies will allow faculty to shift their focus on the application of learning rather than the acquisition of knowledge.
  • Data and the ability to transform that data into action will be the new lifeblood of the institution.
  • Finally, the heart and soul of any institution are its people. Adopting new technologies is only a small piece of the puzzle; institutions must also work with faculty and staff to change institutional culture.

Some quotes are listed below.

 

“What’s more, next-generation digital learning environments must bridge the divide between the faculty-directed instructivist model our colleges and universities have always favored and the learner-centric constructivist paradigm their students have come to expect and the economy now demands.”

It will be at least 10 years before systems such as this become the standard rather than the exception. Yet to achieve this timeline, we will have to begin fostering a very different campus culture that embraces technology for its experiential value rather than its transactional expediency, while viewing education as a lifelong pursuit rather than a degree-driven activity.

Susan Aldridge

 

 

 

Q: What are the biggest challenges facing higher education right now?

A: I think it is a difficult time for decisionmakers to know how to move boldly forward. It’s almost funny, nobody’s doing five-year strategic plans anymore. We used to do ten-year plans, but now it’s “What’s our guiding set of principles and then let’s sort of generally go towards that.” I think it’s really hard to move an entire institution, to know how to keep it sustainable and serving your core student population. Trying to figure out how to keep moving forward is not as simple as it used to be when you hired faculty and they showed up in the classroom. It’s time for a whole new leadership model. I’m not sure what that is, but we have to start reimagining our organizations and our institutions and even our leadership.

Marie Cini

 

 

 

One of the things that is frustrating to me is the argument that online learning is just another modality. Online learning is much more than that. It’s arguably the most transformative development since the G.I. Bill and, before that, the establishment of land-grant universities. 

I don’t think we should underestimate the profound impact online education has had and will continue to have on higher education. It’s not just another modality; it’s an entirely new industry.

Robert Hansen

 

 

From DSC:
And I would add (to Robert’s quote above) that not since the printing press was invented close to 500 years ago have we seen such an enormously powerful invention as the Internet. To bypass the Internet and the online-based learning opportunities that it can deliver is to move into a risky, potentially dangerous future. If your institution is doing that, your institution’s days could be numbered. As we move into the future — where numerous societies throughout the globe will be full of artificial intelligence, big data, robotics, algorithms, business’ digital transformations, and more — your institutions’ credibility could easily be at stake in a new, increasingly impactful way. Parents and students will want to know that there’s a solid ROI for them. They will want to know that a particular college or university has the foundational/core competencies and skills to prepare the learner for the future that the learner will encounter.

 

 

 

Q: What are the biggest challenges facing higher education right now?

A: I think the biggest challenge is the stubborn refusal of institutions to acknowledge that the 20th century university paradigm no longer works, or at least it doesn’t work anymore for the majority of our institutions. I’m not speaking on behalf of our members, but I think it’s fair to say that institutions are still almost entirely faculty-centered and not market-driven. Faculty, like so many university leaders today who come from faculty ranks, are so often ill-equipped to compete in the Wild West that we’re seeing today, and it’s not their fault. They’re trained to be biologists and historians and philosophers and musicians and English professors, and in the past there was very little need to be entrepreneurial. What’s required of university leadership now looks very much like what’s required in the fastpaced world of private industry.

If you are tuition dependent and you haven’t figured out how to serve the adult market yet, you’re in trouble.

Robert Hansen

 

 

 

It’s not just enough to put something online for autodidacts who already have the time, energy, and prior skills to be able to learn on their own. You really need to figure out how to embed all the supports that a student will need to be successful, and I don’t know if we’ve cracked that yet.

Amy Laitinen

 

 

 

The other company is Amazon. Their recent purchase of Whole Foods really surprised everybody. Now you have a massive digital retailer that has made billions staying in the online world going backwards into brick-and-mortar. I think if you look at what you can do on Amazon now, who’s to say in three years or five years, you won’t say, “You know what, I want to take this class. I want to purchase it through Amazon,” and it’s done through Amazon with their own LMS? Who’s to say they’re not already working on it?

Justin Louder

 

 

 

 

We are focused on four at Laureate. Probably in an increasing order of excitement to me are game-based learning (or gamification), adaptive learning, augmented and virtual reality, and cognitive tutoring.

Darrell Luzzo

 

 

 

 

I would wave my hand and have people lose their fear of change and recognize that you can innovate and do new things and still stay true to the core mission and values. My hope is that we harness our collective energy to help our students succeed and become fully engaged citizens.

Felice Nudelman

 

 

 

 

 

Radically open: Tom Friedman on jobs, learning, and the future of work — from dupress.delotte.com by Tom Friedman, Cathy Engelbert, and John Hagel

Excerpt (emphasis DSC):

Tom Friedman: My thoughts on the future of work are very influenced by my friend, a business strategist, Heather McGowan. She really describes that what’s going on is that work is being disconnected from jobs, and jobs and work are being disconnected from companies, which are increasingly becoming platforms. That’s Heather’s argument, and that is what I definitely see.

[A good] example is what’s happened to the cab business. In Bethesda, we have a [local] cab company that owns cars and has employees who have a job; they drive those cars. They’re competing now with Uber, which owns no cars, has no employees, and just provides a platform of work that brings together ride-needers—myself—and ride-providers. And I do think that the Uber platform model, and the way it is turning a job into work and monetizing work, is the future of work.

And that will have a huge impact on the future of learning. Because if work is being extracted from jobs, and if jobs and work are being extracted from companies—and because, as you and I have both written, we’re now in a world of flows — then learning has to become lifelong. We have to provide both the learning tools and the learning resources for lifelong learning when your job becomes work and your company becomes a platform.

So I’m not sure what the work of the future is, but I know that the future of companies is to be hiring people and constantly training people to be prepared for a job that has not been invented yet. If you, as a company, are not providing both the resources and the opportunity for lifelong learning, [you’re sunk], because you simply cannot be a lifelong employee anymore unless you are a lifelong learner. If you’re training people for a job that’s already been invented, or if you’re going to school in preparation for a job that’s already been invented, I would suggest that you’re going to have problems somewhere down the road.


CE: In a recent report from the National Bureau of Economic Research, some leading labor economists did an analysis of net new employment in the United States between 2005 and 2015, and found that about 94 percent of that net new employment was from alternative work arrangements—everything from gig to freelance and off-balance-sheet kinds of work.

I think that’s why we need to teach filtering, literally, to our students. There should be Filtering 101, Filtering 102, Filtering 103. How do I filter information so I get enough of it to advance, but not so much that I’m overwhelmed? How do I filter news?

 

 

…it seems to me that rule number one is you want to be radically open. And that’s a really hard sell right now, because it feels so counterintuitive, and everyone’s putting up walls right when you want to be, actually, radically open. Why do you want to be radically open? Because you’ll get more flows; you’ll get the signals first, and you will attract more flow-minded people, which I would call high-IQ risk-takers. That’s from a country point of view, but I have to believe that’s also right from a company point of view: that you want to be plugged into as many discussions, as many places, and as many flow generators as possible, because you’ll simply get the signals first in order to understand where the work of the future is coming from.

 

 

[GE] offered $20,000 in prize money — 7,000 to the winner, and the rest split up among the other finalists. Well, within six weeks, they got over 600 responses. The 10 finalists were all tested by GE engineers, and they picked the winner. None of the 10 finalists was an American, and none was an aeronautical engineer, and the winner was a 21-year-old from Indonesia who was not an aeronautical engineer, and he took more than 80 percent of the weight out of this fastener.

No, let’s actually create jump balls and access all the talent wherever it is.

 

 

And what did the best artisans do? They brought so much personal value-add, so much unique extra, to what they did that they carved their initials into their work at the end of the day. So always do your job [in a way that] you bring so much empathy to it, so much unique, personal value-add, that it cannot be automated, digitized, or outsourced, and that you want to carve your initials into it at the end of the day.

 

 



From DSC:
If what Tom, Cathy, and John discuss here is true, think of what that means for our students. Our students need to be digitally literate, online, adaptable, lifelong learners, and they need to be highly comfortable with change. They need to be tapped into the “flows” that the authors describe (what they refer to as flows, I call “streams of content” — if I’m understanding their perspective correctly). They need to think entrepreneurially, as Friedman asserts.

Also, they discuss three new social contracts that need to evolve:

There are three new social contracts that have to evolve here. Government has to incentivize companies to create these lifelong learning opportunities. Companies have to create the platforms for employees to afford to be able to take these courses. And the employee has to have a new social contract with themselves: “I have to do this on my own time; I have to be more self-motivated.” More is on you.

…and thus enters my vision that I call Learning from the Living [Class] Room. A global, powerful, next generation learning platform — meant to help people reinvent themselves quickly, cost-effectively, conveniently, & consistently.

 

 

The Living [Class] Room -- by Daniel Christian -- July 2012 -- a second device used in conjunction with a Smart/Connected TV

 

 

But there is no more important survival skill than learning to love learning.

 

 

…because you simply cannot be a lifelong employee anymore unless you are a lifelong learner.

 

 

Always think of yourself as if you need to be reengineered, retooled, relearned, retaught constantly. Never think of yourself as “finished”; otherwise you really will be finished.

 

 



 

 

 

Video: 4 FAQs about Watson as tutor — from er.educause.edu by Satya Nitta

Excerpt:

How is IBM using Watson’s intelligent tutoring system? So we are attempting to mimic the best practices of human tutoring. The gold standard will always remain one on one human to human tutoring. The whole idea here is an intelligent tutoring system as a computing system that works autonomously with learners, so there is no human intervention. It’s basically pretending to be the teacher itself and it’s working with the learner. What we’re attempting to do is we’re attempting to basically put conversational systems, systems that understand human conversation and dialogue, and we’re trying to build a system that, in a very natural way, interacts with people through conversation. The system basically has the ability to ask questions, to answer questions, to know who you are and where you are in your learning journey, what you’re struggling with, what you’re strong on and it will personalize its pedagogy to you.

There’s a natural language understanding system and a machine learning system that’s trying to figure out where you are in your learning journey and what the appropriate intervention is for you. The natural language system enables this interaction that’s very rich and conversation-based, where you can basically have a human-like conversation with it and, to a large extent, it will try to understand and to retrieve the right things for you. Again the most important thing is that we will set the expectations appropriately and we have appropriate exit criteria for when the system doesn’t actually understand what you’re trying to do.

 

 

 

The case for a next generation learning platform [Grush & Christian]

 

The case for a next generation learning platform — from campustechnology.com by Mary Grush & Daniel Christian

Excerpt (emphasis DSC):

Grush: Then what are some of the implications you could draw from metrics like that one?

Christian: As we consider all the investment in those emerging technologies, the question many are beginning to ask is, “How will these technologies impact jobs and the makeup of our workforce in the future?”

While there are many thoughts and questions regarding the cumulative impact these technologies will have on our future workforce (e.g., “How many jobs will be displaced?”), the consensus seems to be that there will be massive change.

Whether our jobs are completely displaced or if we will be working alongside robots, chatbots, workbots, or some other forms of AI-backed personal assistants, all of us will need to become lifelong learners — to be constantly reinventing ourselves. This assertion is also made in the aforementioned study from McKinsey: “AI promises benefits, but also poses urgent challenges that cut across firms, developers, government, and workers. The workforce needs to be re-skilled to exploit AI rather than compete with it…”

 

 

A side note from DSC:
I began working on this vision prior to 2010…but I didn’t officially document it until 2012.

 

The Living [Class] Room -- by Daniel Christian -- July 2012 -- a second device used in conjunction with a Smart/Connected TV

 

Learning from the Living [Class] Room:

A global, powerful, next generation learning platform

 

What does the vision entail?

  • A new, global, collaborative learning platform that offers more choice, more control to learners of all ages – 24×7 – and could become the organization that futurist Thomas Frey discusses here with Business Insider:

“I’ve been predicting that by 2030 the largest company on the internet is going to be an education-based company that we haven’t heard of yet,” Frey, the senior futurist at the DaVinci Institute think tank, tells Business Insider.

  • A learner-centered platform that is enabled by – and reliant upon – human beings but is backed up by a powerful suite of technologies that work together in order to help people reinvent themselves quickly, conveniently, and extremely cost-effectively
  • A customizable learning environment that will offer up-to-date streams of regularly curated content (i.e., microlearning) as well as engaging learning experiences
  • Along these lines, a lifelong learner can opt to receive an RSS feed on a particular topic until they master that concept; periodic quizzes (i.e., spaced repetition) determines that mastery. Once mastered, the system will ask the learner whether they still want to receive that particular stream of content or not.
  • A Netflix-like interface to peruse and select plugins to extend the functionality of the core product
  • An AI-backed system of analyzing employment trends and opportunities will highlight those courses and streams of content that will help someone obtain the most in-demand skills
  • A system that tracks learning and, via Blockchain-based technologies, feeds all completed learning modules/courses into learners’ web-based learner profiles
  • A learning platform that provides customized, personalized recommendation lists – based upon the learner’s goals
  • A platform that delivers customized, personalized learning within a self-directed course (meant for those content creators who want to deliver more sophisticated courses/modules while moving people through the relevant Zones of Proximal Development)
  • Notifications and/or inspirational quotes will be available upon request to help provide motivation, encouragement, and accountability – helping learners establish habits of continual, lifelong-based learning
  • (Potentially) An online-based marketplace, matching learners with teachers, professors, and other such Subject Matter Experts (SMEs)
  • (Potentially) Direct access to popular job search sites
  • (Potentially) Direct access to resources that describe what other companies do/provide and descriptions of any particular company’s culture (as described by current and former employees and freelancers)
  • (Potentially) Integration with one-on-one tutoring services

Further details here >>

 

 

 



Addendum from DSC (regarding the resource mentioned below):
Note the voice recognition/control mechanisms on Westinghouse’s new product — also note the integration of Amazon’s Alexa into a “TV.”



 

Westinghouse’s Alexa-equipped Fire TV Edition smart TVs are now available — from theverge.com by Chaim Gartenberg

 

The key selling point, of course, is the built-in Amazon Fire TV, which is controlled with the bundled Voice Remote and features Amazon’s Alexa assistant.

 

 

 

Finally…also see:

  • NASA unveils a skill for Amazon’s Alexa that lets you ask questions about Mars — from geekwire.com by Kevin Lisota
  • Holographic storytelling — from jwtintelligence.com
    The stories of Holocaust survivors are brought to life with the help of interactive 3D technologies.
    New Dimensions in Testimony is a new way of preserving history for future generations. The project brings to life the stories of Holocaust survivors with 3D video, revealing raw first-hand accounts that are more interactive than learning through a history book.  Holocaust survivor Pinchas Gutter, the first subject of the project, was filmed answering over 1000 questions, generating approximately 25 hours of footage. By incorporating natural language processing from the USC Institute for Creative Technologies (ICT), people are able to ask Gutter’s projected image questions that trigger relevant responses.

 

 

 

 

From DSC:
With the ever increasing usage of artificial intelligence, algorithms, robotics, and automation, people are going to need to reinvent themselves quickly, cost-effectively, and conveniently. As such, we had better begin working immediately on a next generation learning platform — before the other tidal waves start hitting the beach. “What do you mean by saying ‘other tidal waves’ — what tidal waves are you talking about anyway?” one might ask.

Well….here’s one for you:


 

 

New Report Predicts Over 100,000 Legal Jobs Will Be Lost To Automation — from futurism.com by Jelor Gallego
An extensive new analysis by Deloitte estimates that over 100,000 jobs will be lost to technological automation within the next two decades. Increasing technological advances have helped replace menial roles in the office and do repetitive tasks

 


From DSC:
I realize that not all of this is doom and gloom. There will be jobs lost and there will be jobs gained. A point also made by MIT futurists Andrew McAfee and Erik Brynjolfsson in a recent podcast entitled, “
Want to stay relevant? Then listen up(in which they explain the momentous technological changes coming next–and what you can do to harness them).

But the point is that massive reinvention is going to be necessary. Traditional institutions of higher education — as well as the current methods of accreditation — are woefully inadequate to address the new, exponential pace of change.

 

 

 


 

Here’s my take on what it’s going to take to deliver constantly up-to-date streams of relevant content at an incredibly affordable price.

 


 

 

 

 

Realizing the Potential of Blockchain: A Multistakeholder Approach to the Stewardship of Blockchain and Cryptocurrencies — from the World Economic Forum

Excerpts:

Like the first generation of the internet, this second generation promises to disrupt business models and transform industries. Blockchain (also called distributed ledger), the technology enabling cryptocurrencies like bitcoin and Ethereum, is pulling us into a new era of openness, decentralization and global inclusion. It leverages the resources of a global peer-to-peer network to ensure the integrity of the value exchanged among billions of devices without going through a trusted third party. Unlike the internet alone, blockchains are distributed, not centralized; open, not hidden; inclusive, not exclusive; immutable, not alterable; and secure. Blockchain gives us unprecedented capabilities to create and trade value in society. As the foundational platform of the Fourth Industrial Revolution, it enables such innovations as artificial intelligence (AI), machine learning, the internet of things (IoT), robotics and even technology in our bodies, so that more people can participate in the economy, create wealth and improve the state of the world.

However, this extraordinary technology may be stalled, sidetracked, captured or otherwise suboptimized depending on how all the stakeholders behave in stewarding this set of resources – i.e. how it is governed.

At the overall ecosystem level, we look at the need for a proper legal structure, regulatory restraint, diversity of viewpoints and scientific research in tandem with business development. We introduce each of the eight stakeholders in the ecosystem: innovators, venture capitalists, banks and financial services, developers, academics, non-governmental organizations (NGOs), government bodies, and users or citizens.

The internet is entering a second era that’s based on blockchain. The last few decades brought us the internet of information. We are now witnessing the rise of the internet of value. Where the first era was sparked by a convergence of computing and communications technologies, this second era will be powered by a clever combination of cryptography, mathematics, software engineering and behavioural economics. It is blockchain technology, also called distributed ledger technology. Like the internet before it, the blockchain promises to upend business models and disrupt industries. It is pushing us to challenge how we have structured society, defined value and rewarded participation.

 

 

From DSC:
Institutions of higher education need to put the topic of blockchain-based technologies on their radars, as blockchain could impact how people get their credentials in the future. It could easily turn out to be the case that community colleges, colleges, and universities will join other organizations in terms of being able to offer credentials to their learners.

 

 

 

 

AIG teams with IBM to use blockchain for ‘smart’ insurance policy — from reuters.com by Suzanne Barlyn

Excerpt (emphasis DSC):

Insurer American International Group Inc has partnered with International Business Machines Corp to develop a “smart” insurance policy that uses blockchain to manage complex international coverage, the companies said on Wednesday.

AIG and IBM completed a pilot of a so-called “smart contract” multi-national policy for Standard Chartered Bank PLC which the companies said is the first of its kind using blockchain’s digital ledger technology.

IBM has been partnering with leading companies in various industries, including Danish transport company Maersk, to create blockchain-based products that can streamline complex international dealings across sectors.

 

Blockchain technology, which powers the digital currency bitcoin, enables data sharing across a network of individual computers. It has gained worldwide popularity due to its usefulness in recording and keeping track of assets or transactions across all industries.

 

 

From DSC:
Why post this item? Because IBM and others are experimenting with and investing millions into blockchain-based technologies; and because the manner in which credentials are stored and recognized will most likely be significantly impacted by blockchain-based technologies. Earlier this year at the Next Generation Learning Spaces Conference in San Diego, I mentioned that this topic of blockchain-based technologies is something that should be on our radars within higher education.

 

 

 

 

 

 

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