APPLICATION OF BLOCKCHAIN TECHNOLOGY IN ENHANCING EDUCATION CONTRACTS IN NIGERIA

Innocent Obidaju

MPRA Paper from University Library of Munich, Germany

Abstract: This paper examines how blockchain technology can enhance transparency, efficiency, and accountability in education contract systems in Nigeria, where challenges such as financial misappropriation, weak compliance, corruption, and lack of stakeholder trust continue to undermine effective implementation of educational projects. It explains smart contracts as self-executing digital agreements built on decentralized blockchain networks that automatically enforce contractual rules, ensure secure data storage, and provide tamper-proof records of transactions. The study identifies several key applications of blockchain in education, including automated grading systems, protection of intellectual property, secure academic record management, decentralized learning platforms, and improved collaboration in research and development. Using the Universal Basic Education (UBE) counterpart funding arrangement as a practical illustration, the paper proposes a blockchain-based framework that links access to federal matching grants with verified state compliance through coded protocols, escrow mechanisms, and milestone-based fund disbursement.

Keywords: Blockchain Tecnology; Smart Contratct; Education Funding; Counterpart-funding; Nigeria (search for similar items in EconPapers)
JEL-codes: O31 (search for similar items in EconPapers)
Date: 2024-02-22
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