^{#micro-credentials #blockchain #higher education institutions #information systems management #Prospect theory}

Stafyeyeva Lyuba, Yevgen Bogodistov, Guido Perscheid

Micro-credentials, as records of brief learning experiences, foster lifelong education and mark a progressive learning strategy in higher education institutions (HEIs), reflecting the digital evolution in the educational sector. Their implementation, however, introduces challenges like standardisation and high costs, with blockchain technology posited as a viable solution to streamline credentialing processes. This study investigates the indirect costs of implementing blockchain-powered micro-credentials in HEIs. Through a discrete choice experiment (DCE) framed by Prospect theory, it uncovers that human resources, transaction fees, and payment adjustments are significant deterrents for HEIs considering blockchain adoption. The decision-making process in HEIs is influenced by a combination of various cost factors, and the framing of these costs significantly alters institutional willingness to bear them. The findings emphasise the complexity of decision-making in adopting blockchain technology, suggesting the need for a nuanced understanding of these costs to develop more effective implementation strategies. The study advocates for further research to explore the collective impact of these costs on HEI decision-making and promote broader adoption of blockchain in education.