FUD Buster: College On The Blockchain
There is a lot of FUD regularly passed around by the mainstream media. Sadly, many people buy into it. This is a large part, in my view, as to why we are experiencing a bear market since the first part of the year. The banksters know they cannot stop the blockchain revolution that is coming.
As I watch what is being developed, I am regularly amazed the innovations that appear. On the STEEM blockchain, some recent projects are completely mind-blowing. I expect we will see a continuation of this as time progresses.
One thing that caught my attention today was a project out of Europe. Blockchain has capabilities far beyond what people normally consider. At the essence, blockchain allows for the elimination of middlemen. This is what has the banks in the cross hairs.
There is another institution that is nothing more than a middleman. In short, it simply facilitates transactions. I never thought of it in these terms yet that is exactly what college is. A university does nothing more than bring students and teachers together.
Like most things that are being threatened by blockchain, now we see this arena in peril. A new white paper reveals the intention to establish a blockchain-based college curriculum along with a token. This is a ground-breaking idea which could alter the way upper education operates.
Put together by a group of Oxford professors, this institution of higher learning seeks to address some of the issues associated with university education today. High costs, bureaucratic nightmares, and low teacher's pay are all going to be addressed on this blockchain.
Essentially, tutorials will be placed on the blockchain. Each will be wrapped in a smart contract. This enables both teacher and student to be protected. If the student does not complete the course in a timely manner, the teacher is still paid. The reverse will also be true where the student is refunded payment if the teacher fails to uphold the contract.
The proposed “blockchain university” will adopt the traditional Oxbridge course and collegiate structure by focusing on individual tutorial-led modules that will be available to students either on- or offline. The project’s design is “geographically agnostic,” prioritizing a “borderless” academic community over local or national ties.
In reading the first few pages of the white paper, this is a program that can be expanded. The intention is to allow other universities to add their curriculum. Their ultimate goal is to reduce the expense by eliminating many of the administrative costs associated with higher education. For those tasks that cannot be done away with, they seek to have a market based bidding process for fulfillment of those jobs.
This is just another example of the power of blockchain. We are only starting to see the creativity of human ingenuity. As more projects get off the ground, more aspects of established life will change.
The Woolf project is using the ERC20 protocol to release its token. I did not see if they plan to remain on the ethereum blockchain or develop their own. To me, this is just another example of what will ultimately be possible for STEEM once the SMT protocol is released.
We are seeing that 2018 is definitely the year of the blockchain. The next 3-4 years will be a wild ride with all the development we are going to see emerging.
Do not buy into the FUD...there is a lot going on here that few are truly mentioning.
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Nice finding! Sounds really interesting. I had heard of blockchain being used for certifications tracking but this is new to me and very interesting.
We really need to shift away from time-based courses toward mastery learning based on clear competencies. It sounds like this project is using the blockchain, but sticking to the old school (pun intended) approach of forcing students to move at a certain pace, regardless of mastery.
Just yesterday I was flaming the Jamaica Gleaner (our national paper) for printing Associated Press (AP) articles spreading Bitcoin FUD. It's ridiculous most have no idea what they are writing about and the editors have no idea what to print; but 9/10 times here it's FUD.
Blockchain U 🤔, not bad... I believe something similar can run on the steem Blockchain.
Cheers!
Sounds fantastic. The price is still high but this is only beginning.
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Hopefully with smart contracts in place they teach useful things not crap most of us will use
That’s super interesting. It makes me think about communities in the future. Certainly a humongous reason people go to college is to be among their peers. What will physical communities be built off of in the future? I can still see a need for physical learning spaces where teachers and students with similar interests can come together. Of course our current schools are archaic. I think physical schools will have a place among people for a very long time. Although nothing like a current American school.