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CHINESE UNIVERSITIES INITIATES TO BUILD A DAO FOR AFFORDABLE EDUCATION

We know blockchain is making its impact on various sectors of the society and in these many sectors, education is also a significant one. China’s universities initiative is another example of the potential of the blockchain.
On Sunday, an initiative was announced, wherein a group of top-tier Chinese Universities in China are planning to build a decentralised, blockchain powered organisation which aims to provide educational resources in a more accessible and affordable manner.
The initiative is led by the innovation incubator at China’s Tsinghua University, Tsinghua x-lab, who is also accompanied by various other educational universities like Peking and Zhejiang universities.
Dubbed the Youth Education Chain League (YEC League), the vision of the project is to provide educational resources to everyone. Unlike, U.S. Ivy League, wherein the educational resources are limited only to the elite.
To achieve the goal, the university’s innovation centre seeks to build a decentralized autonomous organization (or DAO) which is based on blockchain protocol. In which universities or research institutions can join as distributed nodes.
According to x-lab, the end goal is to let participants vote for future development and applications over the platform, while students and faculties could potentially gain access to educational resources from different institutions shared over its distributed ledger.
X-lab has not yet disclosed any timeline for the project development. This initiative marks a great collaboration of the universities of China, that have come forward to give a wider push to researching and development of blockchain technologies.

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