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Professors and scientists from Oxford are developing the first in the world blockchain-based university. The university will work mainly using smart-contacts – to monitor attendance and deadlines and to create a more transparent educational environment.

Blockchain-based tools and solutions generally are meant to tackle issues concerning high tuitions fees, bureaucracy and worldwide access to the university resources to enable both online and offline education, academic association Woolf Development claims. Besides that, the use of smart contracts is able to facilitate clear education process whereas distributed ledger technology (DLT) will be responsible for safety and maintenance of quality control to reduce workplaces.

Not only Oxford pay attention to cryptocurrency-based education. Some leading international universities already offer cryptocurrency-related courses. Swiss university Lucerne even permitted its students to pay tuition in BTC.