Woolf presents a Beta platform – one month after the launch on 7. March 2018. They aim to reduce the administrative costs of University training, and to allow for Apprentice-Style education through Autonomous Smart Contracts (smart contracts) on the Blockchain.
Woolf developed a University
Woolf is not intended to be in direct competition with the existing System, but wants to create more flexibility for the existing University structure, both for professors as well as students. It is a noble idea and has a good chance to find highly-effective niche uses.
“Uber for students, Airbnb for academics”
Blockchain technology can bring great benefits to large institutions, such as universities, in which it is structured as Decentralised Autonomous organisations (DAO). This can reduce administrative costs, for a more natural formation of structures and the payment of professors a fair design be reduced, while fees for students.
Woolf are still at the beginning of your project, and have just released a Demo of their Beta platform. The Team consists of the members of the faculty of the University of Oxford, opted for a branch in Gibraltar.
University, company or something else?
Gibraltar’s government is known for its acceptance of crypto-currencies and Blockchain technologies. The project is supported by the legal counsel of Joey Garcia, a Director that developed the government regulation for block chains, and by the Council of Isola’s LLP, the oldest law firm in Gibraltar.
In the UK, University is not just any word: Since the 2006 Companies Act, this Label maintains strict requirements. Woolf claims not to be a “University”, only that it has made to the target one. Of the University of Oxford is coming, it has to breathe, obviously, the necessary relationships to the platform’s life, so far, was however, released nothing yet.
Projects such as this and Devery’s verification Protocol provide in a wonderful way the different possibilities of what Blockchain technologies. Now they just need to find more use for it.