Joshua Broggi, a researcher at Oxford, plans to create a blockchain university in Malta. In order to arrange this, he needs government approval.
Malta is recognized as one of the blockchain-friendly countries. Its authorities have always been welcoming blockchain and crypto businesses, creating a favorable environment for their development. As previously reported by Coindoo, Binance, the world’s largest cryptocurrency exchange by 24-hour trading volume, is one of the projects that have decided to install on the island’s territory.
Now, it seems that Malta is ready to move the blockchain tech to another level, as stated by Joshua Broggi. The announcement was made on 27 August. Broggi elaborated:
“Malta provides an educational framework based in the British tradition – and after Brexit, Mala will remain both an EU member state and a Commonwealth member. We have had productive meetings with [Education Minister] Evarist Bartolo and the National Commission for Further and Higher Education (NCFHE).”
A university powered by blockchain technology
The blockchain-based educational institution is set to be named the Woolf University and will be entirely based on blockchain technology. Even if it is not going to be an online university, students will be able to benefit from online services, including personalized online courses. Several teachers will be paid with tokens and micro-credits.
Speaking with a Forbes representative, Broggi explained:
“We use a blockchain to create efficiencies by managing custodianship of student tuition, enforcing regulatory compliance for accreditation, and automation a number of processes. Our blockchain-enforced accreditation processes are such that teachers and students from outside the EU can join our platform and earn a full EU degree – a non-EU student with a non-EU teacher in a non-EU language.”
The project has already attracted the attention of a number of qualified teachers, mostly from the University of Oxford, Cambridge University, George Mason University, King’s College London, and others.
The news comes in correlation with the regulatory framework on which Maltese authorities are working. The initial plan to launch an Initial Coin Offering in order to collect funding was canceled as the project managed to receive sponsorships from private businesses.