The universities of China have created a DAO on the basis of the blockchain

The group is China’s largest universities plans to create a decentralized organization on the basis of the blockchain to make educational resources more accessible.

The author of the initiative — Tsinghua x-lab, an innovation incubator at the University of Tsinghua. In addition, the project supported and other educational institutions, the Beijing and Zhejiang University. Plans were announced on Sunday.

The project received the name «the League of youth educational network» (YEC League). The main objective of the project is opposite to the widely known American «Ivy League», uniting the most prestigious and expensive universities in the USA, getting an education which can afford only the American elite.

To achieve its goal the innovation centre University strives to create a decentralized Autonomous organization (or DAO) based on the Protocol of the blockchain, to which universities or research institutions can join as distributed nodes.

According to x-lab, the ultimate goal is to allow participants to vote for the future development and applications on the platform, while students and faculty will potentially be able to access educational resources from various universities distributed in a distributed registry.

Although the x-lab has not yet disclosed the detailed schedule of development projects, this initiative marks a major step universities in China as part of their broader initiatives and research and develop the technology of the blockchain.

Even in 2015, it was reported that Chinese universities have started to file patent applications related to the technology of the blockchain. According to the intellectual property Office of China, the universities filed a total of nearly 140 patent applications that relate to the technology of the blockchain in the last three years, covering a wide range of areas.

The mood in academic circles reflect fully the national policy of China in the blockchain. In March of this year it became known that the government of China develops
standards for blockchain and DLT, and articles on the subject of blockchain keeps popping
in the Chinese media in recent months. In addition, in January it was reported that China uses
the blockchain on the market for secondary loans.

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