Time will tell if blockchain is as revolutionary as is currently believed. It wouldn't be the first technological innovation to come out of nowhere and fade just as fast from public attention. But more than a few whip-smart people are convinced that it will become an essential tool. Its' application to credentialing in higher education is highly anticipated. Given the technology's unique properties, I suspect it may accelerate the move towards greater decentralisation in education - from whom we learn and how we distribute validation of our learning. We shall see.
If you're not clear about the technology's core functions, check out this interesting construction: Blockchain: The New Technology of Trust.