Woolf will be the first blockchain-powered university with its own native token

A group of University of Oxford professors are pitching the idea to create a legally accredited university based on the concept of blockchain. Once approved by the EU, Woolf – the university based out of London – will be the world’s first blockchain university.

Oxford experts describe this as the “Uber for students and Airbnb for academics”. The regular Oxford system will be followed by Woolf in terms of the academic format and infrastructure. The design, however, has been constructed by independent academics. Woolf will not be a physical campus but an application utilised by current students. The non-profit organisation will have its own cryptocurrency token called the WOOLF ERC-20. This can be utilised for university voting, tuition payment and internal projects.

One of the main goals for its development is to rearrange the current and conventional academic pattern. The most advantageous factor being inexpensive university fees. It acts as an alternative for students who wish to study and cannot afford the high-rising prices of top-tier institutions in London. Furthermore, another advantage to a blockchain university is that its entirety is based on a decentralised network that protects documents and contracts with high security.

There are several universities that offer blockchain-related courses, however, Woolf will be the first university downright based on the booming technology. It is about time a vision to add diversity in the education sector be acknowledged.

Visit https://woolf.university/#/ for more information