Check out the fresh release of #MetaNews. Here are the most significant news from the blockchain world:

First Blockchain-Based University

The story:

Oxford Professors Plan to Launch the World’s First Blockchain-Based, Decentralized University.

Details:

According to the team of academics behind Woolf Development, led by Joshua Broggi from the Faculty of Philosophy at Oxford, blockchain tech and smart contracts can help democratize the traditional structure of higher education.

The proposed “blockchain university” will adopt the traditional Oxbridge course and collegiate structure by focusing on individual tutorial-led modules that will be available to students either on- or offline. The project’s design is “geographically agnostic,” prioritizing a “borderless” academic community over local or national ties.

Why it is important

Blockchain has already made a significant impact on the content, if not yet the structure, of higher education, with many leading international universities offering blockchain, smart contract, and cryptocurrency-related courses. Institutions such as Cambridge University have conducted substantial research into the crypto-finance field, and Swiss university Lucerne even accepts Bitcoin payments for tuition fees.

This news is another step towards improvement of educational system, and blockchain tech plans to play a vital role in this improvement.

Blockchain Can Reduce Costs for Banks

The story:

Blockchain technology has the potential to revolutionize transaction banking according to a study by major global management consultancy firm Bain & Company.

Details:

According to the consultancy firm’s study, trade finance operating costs could be reduced by up to 50 to 80 percent by blockchain tech “if adopted in the right way by participants in the trade ecosystem.” The cost cuts would arise from significant increases in processing speed — Bain calculates three or even four times faster settlement, billing, and payment.

Why it is important

Blockchain does not have to be the force that will eliminate the existence of banks, on the other hand, it can be the force that will improve it. There are already couple of cases of blockchain tech usage by major banks, for example:

In Liechtenstein, Bank Frick has been working intensively with fintech clients for some time, and Hypothekarbank Lenzburg recently became the first bank in Switzerland to provide business accounts to blockchain and cryptocurrency companies.

Blockchain-Based Supply Chain System

The story:

Microsoft has partnered with Ardents, a supply tracking solutions provider, to develop a new product tracking platform using blockchain technology and artificial intelligence (AI).

Details:

The new blockchain solution, which is called Ardents NovaTrack, was presented at Viva Tech 2018 in Paris. The system offers end-to-end traceability and visibility from the point of origin along the whole supply chain, allowing users to trace single product items within a case. The product was initially designed for the pharmaceutical industry in order to fight distribution of fraudulent copies of drugs, but the developers are reportedly targeting other high-value industries.

Why it is important

According to the Organization for Economic Co-operation and Development (OECD), an estimated 10 percent of pharmaceutical products sold worldwide and 2.5 percent of global imports are counterfeit. Last month, U.S.-based life science research marketplace Scientist.com revealed a new blockchain platform designed to track and protect pharmaceutical data. Within the project, blockchain technology will reportedly be used to verify and validate the entire supply chain.

Blockchain tech can solve a lot of problems and issues associated with supply chain in medicine and not only. Blockchain can be synonymous with the word simplification when it comes to supply chain.

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