Building the first blockchain university. Woolf ICO rating – not rated.
|Visit Woolf ICO site
PRE ICO Dates : 27/07/18 – 30/08/18
1 537 877
Rank in RU – 943227
About Woolf ICO (token sale)
Woolf will be the first blockchain-powered university with its own native token. The design has been developed by an independent group of academics (mostly from the University of Oxford), and experienced academics will form the first college in the collegiate university.
Woolf will be an accredited, borderless, educational society which reimagines how teachers and students connect. It will rely on blockchains and smart contracts to protect relationships between students and educators, enforce regulatory compliance, and ultimately manage custodianship of tuition. It will be a decentralised, non-profit, democratic community in which the use of blockchain technology will provide the contractual stability needed to pursue a full course of study.
It is our view that the model set out in this white paper will alter the economics of higher education and provide new opportunities for both students and academics to connect across borders in a well-regulated environment. Blockchains with smart contracts can eliminate or automate administrative processes and reduce overhead costs; as a consequence, we believe that students will be able to study with lower tuition and academics can be paid higher salaries.
It is our ambition that Woolf be a revolution without precedent in the history of the university. But at its core, Woolf makes possible the oldest and most venerable form of human education: direct personal, individual apprenticeships in thinking. The aim of Woolf is to make that transformative experience available to everyone. We believe such a personal education will be increasingly valuable as artificial intelligence and robotics gain an ever-greater share of the current jobs.
Woolf is digital in its organisation, but teaching can be conducted either in person or over video calls. In either case, participants must engage with the Woolf app, which connects to the Woolf platform and triggers the relevant smart contracts on the blockchain. Woolf will thus use digital technologies to reimagine how traditional forms of education can be sustained in a geographically agnostic manner.
Woolf’s smart contracts are meant to reduce the need for a traditional university’s administrative staff. Indeed, we hope many brick-and-mortar educational institutions will adopt Woolf and increasingly phase out key portions of their administrative staff, even while gaining access to new teachers and students.
The Woolf platform is designed to reduce bureaucracy, lower tuition costs, secure teaching salaries, and increase the time that students interact with their professors. The result is intended to be simple and powerful: students and teachers are brought together, no matter where they are in the world. The more students and teachers joining the network, the greater the range of options for everyone.
Woolf offers new employment practices. Woolf will be open admissions for qualified academics and selective admissions for students. Colleges of experts will be allowed form without regard to borders. The platform will aim to provide a turnkey experience for academic professionals forming new colleges and offering courses. Academics with a research doctorate will be encouraged to form new colleges on the platform provided that they meet the minimum criteria, and the teaching provision of these colleges will be accredited through Woolf University.
Woolf is currently in the process of working with regulators on degree-granting powers. Woolf’s platform is designed to give its students custodianship of their own degrees with public confidence about their credentials – secured by the blockchain. In addition to working in dialogue with regulators in Europe, Woolf will seek to promote international standards in degree credentials on the basis of its own democratic exercises across all the colleges.
We prize democratic values and feedback on our design. Woolf Development Ltd is responsible for launching and developing the network, after which its governance will be passed over to the academic members and the non-profit Woolf Trust. It is thus essential that members of the Woolf community continue to provide constructive insights into the overall operations and design.
Woolf Development has chosen to incorporate in Gibraltar because the legal framework is designed to provide a progressive and regulated environment for blockchain technology. Woolf Development seeks to act within the laws of Gibraltar, in which the Judicial Committee of the Privy Council in London is the final court of appeal.