Blockchain for Management of Virtual Internationalization in Higher Education

Management of virtual internationalization is key to its successful implementation, especially when many institutions and stakeholders are involved in the partnership. An online management tool becomes a vital component to observe, monitor, and oversee the process of executing an activity that involves an international dimension. Blockchain technology offers a unique opportunity to manage virtual internationalization activities and actions in a secure, transparent, and immutable fashion. A blockchain-based system, which manages and controls virtual internationalization in higher education institutions, is proposed. The system consists of administrative and financial components for reporting Erasmus+ project activities, including staff costs and reimbursement, mobility and travel expenses, equipment, printing and publishing, indirect and other costs. The blockchain reporting system has shown promising results in management of international projects with considerable reduction in time and cost.