ABSTRACT
This chapter, covering the main concepts of blockchain technology, starts with the description of its origins, as proposed by Satoshi Nakamoto, to be the underlying technology for the implementation of the Bitcoin cryptocurrency. Then, the essential aspects of blockchain technology are discussed, including the concept of the distributed digital ledger secured by timestamped digital signatures, various consensus mechanisms allowing transaction validation, and smart contracts being the digital codes allowing the control of legal events. Next, the chapter examines the factors that influence decisions to adopt blockchain technology. After that, possible blockchain applications in the field of education are discussed, where this technology could provide support to the main stakeholders of the educational system, i.e. learners, educational institutions, and the labour market. Finally, the essential blockchain attributes, such as decentralisation, persistency, anonymity and auditability, and their potential for transforming education are discussed.
