The integration of blockchain technology in educational institutions is gaining momentum due to its promise to improve the graduation system and the process of verifying educational qualifications. However, little research exists on the social aspects of incorporating blockchain technology in an educational environment. This study aims to evaluate the social impact of blockchain technology on internal and external stakeholders of a higher education institution, including educational leaders, management, graduates, and external organisations. Using the Social Impact Assessment methodology, this study reveals that the integration of blockchain technology can have an overall positive impact on industrial and alumni relations and resource optimization. This study also contributes to the literature on Social Impact Assessment by presenting a methodological model for the integration of blockchain technology in the context of a higher education environment.