Universities In China To Build Blockchain DAO For Affordable Education

A group of best level Chinese universities in China are hoping to construct a decentralized, blockchain-controlled association planned to make educational resources more accessible and affordable.

Led by Tsinghua x-lab, the innovation incubator at China’s Tsinghua University, alongside a few other educational establishments, for example, the Peking and Zhejiang University, the initiative was uncovered on Sunday.

Dubbed the Youth Education Chain League (YEC League), the project’s vision is to wind up the inverse of the U.S. Ivy League, in which educational assets are generally restricted to the elite, the declaration says.

To do that, the university’s advancement focus tries to assemble a decentralized autonomous organization (or DAO) based on a blockchain protocol and which universities or research organizations can join as distributed hubs.

The ultimate objective, as indicated by x-lab, is to give members a chance to vote in favor of future advancement and applications over the platform, while students and faculties could possibly access educational assets from various organizations shared over its distributed ledger.

Despite the fact that x-lab has not yet revealed a firm course of events for the project’s development, the initiatives denote a huge collaborative move by state-funded universities in China as a feature of their more extensive push into researching and developing blockchain advances.

CoinDesk previously reported that universities in China have been seeking blockchain patent since 2015.

Truth be told, data from the China Intellectual Property Office demonstrates that universities in the nation have documented a sum of almost 140 patent applications that identify with blockchain technology in the course of recent years, covering an extensive variety of fields.