China wants to embrace blockchain, big time; it is not just the businesses, the country’s universities also want a piece of the action. And that’s what we’re going to talk about today…
Making educational resources more accessible
The initiative by a group of top-tier Chinese universities is planning to build a decentralized, blockchain-powered organization in an effort to make educational resources more accessible and affordable.
Led by Tsinghua x-lab — which is the innovation incubator at China’s Tsinghua University — it will also see participation of other educational institutions such as the Peking and Zhejiang universities.
Dubbed the Youth Education Chain League (YEC League), the project’s goal is to become the opposite of the U.S. Ivy League, where educational resources are largely limited to the elite. In that sense, they will build a decentralized autonomous organization (DAO) with universities and research institutions joining as distributed nodes. As members, they will eventually get to vote on future development and applications for the platform, while students will gain access to educational resources from different institutions shared over a distributed ledger.
However, the timeline for YEC League has not been disclosed.
Chinese universities pursuing blockchain patents
In addition to working on a blockchain-based DAO to make educational resources more accessible, Chinese universities have also been pursuing related patents.
According to the China State Intellectual Property Office (SIPO), Zhejiang University wants to patent a cloud-based blockchain system that facilitates cross-border payment transactions. The envisioned system would record a sender’s transaction request on a decentralized ledger that is formed by distributed cloud servers, rather than passing transaction information through a third party.
The Beijing-based Chinese Academy of Sciences is another institution looking to embrace decentralized computing, having filed a patent for the system that can “simultaneously support public, private and consortium blockchains.”
Finally, there is Shenzhen University, which is pursuing a patent related to intellectual property rights for artists. The system would use the technology as means to tag and trace works, while facilitating a kind of tamper-proof artwork trading system.
There you have it — the Chinese are preparing heavily for the brave new decentralized world. And soon enough we’re sure we’ll have more to report from the world’s most populous country. Stay tuned…