Monday, March 30, 2020

World’s First Blockchain-Powered University To Be Built In Malta Soon

Elizabeth Jamie
Jamie Elizabeth is a Mass Communication Graduate from the Philippines, knowledgeable in the field of cryptocurrencies, blockchain etc., currently enjoying freelance writing, and able to write anything under the sun.
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A researcher from Oxford University currently seeks accreditation from the island of Malta as he plans to build the world’s first blockchain powered university in the area, according to an article in Medium.

Although the idea of blockchain in a university is not quite unique at all, an Oxford researcher named Joshua Broggi tackled the idea of having a university being powered by the blockchain technology. Meaning that it won’t be an online university teaching blockchain or cryptocurrencies but the system will be managed through using a distributed ledger which was said to be more efficient and systematic for the students.

“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 Woolf University which is the name of the future ‘blockchain university’ will be perfect for the place of Malta as the island represents blockchain and crypto in the past years. Due to Malta’s very welcoming ambiance in the idea of blockchain technology, Broggi decides to seek their approval.

“Malta is an ideal partner for a borderless university. As an island country, Malta has a long tradition of looking beyond its own borders, and Malta is now developing a robust regulatory framework for distributed ledger technology… We look forward to continued work with Malta as they become ‘the blockchain island'” says Broggi in Medium.

According to their local news site Lovin Malta, the process of the university will be simpler and enhance as the information and data will be recorded easily using the technology. The students and teachers will ‘check-in’ on the database and the execution of the smart contacts will soon enable to validate the attendances and grades of the students and teachers.

Interestingly, the university will provide payments for the teachers with the mode of tokens while also providing micro-credits to its students.

Broggi also explained that his idea of having blockchain-powered university will be helpful and will benefit those who seek full EU degree without becoming EU student and EU teacher. The university can become the tool for a ‘borderless university’ that will give every rights and chance for students all over the world to take degrees.

As this action gains popularity from the mass, the Woolf University has now approached tons of well-educated professors and lecturers from the University of Oxford, Cambridge University, George Mason University, King’s College London, Leipzig University and Kyoto University. They are expected to be seen soon in the world’s very first blockchain university.

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