World first as blockchain university seeks accreditation

Woolf University, the brainchild of an Oxford research fellow Joshua Broggi, could become the first blockchain-powered university in the world. It won’t be an online university but is to save costs by automating administrative procedures, running on blockchain technology, writes Priyeshu Garg for BTC Manager.

The world’s first university powered by blockchain could soon set up shop in Malta, and academics from some of the world’s best universities have already signed up, according to a report from Medium. “We use a blockchain to create efficiencies by managing custodianship of student tuition, enforcing regulatory compliance for accreditation, and [the] automation [of] a number of processes,” Broggi told Forbes.

The university’s framework is intended to complement both online and onsite teaching anywhere in the world by providing students with personalised tutorials. Running on a distributed ledger will also enable it to ensure the security of the student’s degrees. The technology will enable the execution of a series of smart contracts that validate attendance and assignment completion once students and teachers ‘check-in’. According to Lovinmalta.com, the university will pay the teachers in tokens, while providing micro-credits to students.
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