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Researcher Joshua Broggi imagines a new university entirely fueled by blockchain technology, and is seeking accreditation in Malta to determine which will be the first in the world.
Oxford researcher seeks accreditation in Malta
Broggi aims to build the first "Blockchain University" in the world and hopes to open a shop on the European island of Malta, according to Lovin & # 39; Malta .
Woolf University will work entirely on blockchain technology to save on operating costs by automating administrative procedures. Meanwhile, the cryptographic design of the blockchain and the unchangeable accounting transparency technology will ensure that the titles obtained from the university are safe and can be validated using blockchain.
"We use a blockchain to create efficiencies by managing school tuition, strengthening regulatory compliance for accreditation, and automating a series of processes," said Broggi Forbes in a & # 39 ;interview.
Woolf University will offer a variety of courses, both online and on-site. The structure is designed to encourage teaching anywhere in the world through customized exercises. Broggi says that students and teachers will check-in, starting a series of smart contracts that validate aspects such as attendance and completion of tasks, also paying the teacher for their instructions and providing students with micro-credits to be applied against their course. [19659004] The blockchain university has already attracted the attention of professors from a wide range of prestigious universities including the University of Oxford, Cambridge University, George Mason University, the King & # 39. ; s College of London, the University of Leipzig and the University of Kyoto.
The original plan to finance the world's first blockchain university was appropriately passing through an initial coin offering (ICO), however, Woolf received sufficient private funds to renounce the need for a public offering.
Malta: Earn the nickname Blockchain Island
Broggi aims to open five colleges, and eventually plans to work with more than one regulatory partner, however, Malta was the immediate and first choice.
Malta has quickly gained a reputation in the blockchain community as welcoming and eager to advance emerging technology with regulatory support. According to Broggi, Malta is "an ideal partner for an" university without borders ".
"As an island country, Malta has a long tradition of looking beyond its borders and Malta is now developing a robust regulatory framework for distributed accounting technology, both educational policies and blockchain policies support Woolf's goals and we can not wait to continue working with Malta as they become "the blockchain island".
Joseph Muscat, the prime minister of Malta, has worked hard to transform Malta into " Blockchain Island "in a move to support the economy of the island nation, two of the world's largest cryptocurrency trading volumes, Binance and OKEx, will transfer their operations to Malta. [19659004] Binance CEO and cryptocurrency industry icon Changpeng & # 39; CZ & # 39; Zhao praised Malta as "one of the best places" for blockchain companies, as it was "very welcoming and reasonable" when it comes to reading regulators related to blockchain and cryptocurrency.
Featured image of Shutterstock.
