A group of Oxford professors have set out to disrupt the traditional academic system, planning to launch the world’s first blockchain-based, decentralised university. The brainchild of Joshua Broggi, a member of Oxford University’s Faculty of Philosophy, Woolf Development (the platform is dubbed ‘Woolf’) seeks to gain full EU degree-granting powers in what Broggi has compared to ‘Uber for students, Airbnb for professors’. ‘Blockchains with smart contracts can automate administrative processes by using the WOOLF utility token, thereby reducing overhead costs’, says White Paper of the project. Woolf’s first college, Ambrose, is set to launch in fall 2018. The proposed fees are set to $400 per tutorial, or $19,200 per year before ‘scholarships.’