Schools and students live and die by transcripts - the one or two pages that list all classes taken and grades received. File cabinets of transcripts create a uniform, easy to compare mechanism to stack rank the relative worth of students.
Or at least they try. The truth is they compress or outright lose more information and insight than they retain.
Instead, the future is student portfolios. Portfolios are skimmable but dense collections of media that show off a person’s capabilities and passions. They can exist in both electronic and paper form.
Many students at graduate levels (and professionals) already use portfolios, of course. Artists, architects, and producers, as just a few examples, all have portfolios that they shape over time and present to potential partners.