Professors at Oxford University are planning to launch a brand new, blockchain-based, decentralised academic institution, seeking full-degree granting powers in the EU.
Woolf Development is led by Joshua Broggi, who is currently part of the Philosophy department at Oxford, with the team claiming that blockchain has the power to create a more democratic structure for higher education.
In the organisation’s whitepaper, the team said: “Woolf will be a borderless, digital educational society which reimagines how teachers and students connect. It will rely on blockchains and smart contracts to guarantee relationships between students and educators.
“For students, it will be the Airbnb of degree courses; for teachers, it will be a decentralised, non-profit, democratic community; but for both parties the use of blockchain technology will provide the contractual stability needed to complete a full course of study.”
Woolf would help to sidestep many of the issues present in higher education, including high tuition fees, geographic restrictions and bureaucracy.
The first college – Ambrose – will launch this autumn, with fees set at around $400 per tutorial or $19,200 per year.