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Hong Kong university to inaugurate mixed reality classroom in Metaverse

By building MetaHKUST, the institution plans to create a learning environment that virtually connects the two campuses — in Hong Kong and Guangzhou.

The Hong Kong University of Science and Technology (HKUST) announced to host the launch party of a virtual reality classroom over the Metaverse on September 1. The launch marks the commencement of HKUST’s plan to promote immersive learning by building a virtual campus in the Metaverse, to be called MetaHKUST.

An academic from the HKUST institution told South China Morning Post that the launch of the mixed reality classroom represents the opening of a new campus in the city of Guangzhou, Hong Kong. Pan Hui, chair professor of computational media and arts at the Guangzhou campus, added that:

“A lot of guests might be overseas and can’t attend [the opening], so we will host it in the metaverse.”

By building MetaHKUST, the institution plans to create a learning environment that virtually connects the two campuses — in Hong Kong and Guangzhou. By virtually connecting the campuses, HKUST hopes to help students overcome geographical constraints when attending classes.

While universities across the globe moved over to services such as Zoom for conducting online classes during the COVID-19 pandemic, Hui believes learning in the Metaverse to be a better option for students as it promotes a greater level of interaction, adding:

“Through virtual reality, you can feel as if you’re there. How you interact with students around you will increase your learning outcome.”

Despite the nascency of the technology, Wang Yang, VP for institutional advancement at HKUST, said the metaverse was “here to stay.”

Related: Marriages and court cases can be held in the Metaverse

Adding to the long list of use cases the Metaverse has to offer, Singapore’s Second Minister for Law Edwin Tong opined on using the budding technology in legal marriage proceedings, court case disputes and government services.

Tong supported his statement by highlighting instances when intimate events such as the solemnization of marriages were being held at the Metaverse, adding:

“It would not be unthinkable that, besides registration of marriages, other government services can soon be accessed online via the Metaverse.”

Tong stated that the addition of such technology would not preclude traditional offline hearings from taking place and rather suggested an “integrated platform” that could invigorate the dispute resolution process. He noted that “there can always be a hybrid element.”

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University of Cincinnati turning crypto craze into educational curriculum

The programs, which are funded by a longtime supporter of the university, will teach students about Bitcoin and other digital assets.

Cryptocurrencies are attracting a lot of attention from academic institutions as they become increasingly accepted as an alternative to conventional assets. The University of Cincinnati (UC) in Ohio, United States, has even established courses around cryptocurrency as part of its curriculum.

In fact, UC is working on two new programs that will educate students about cryptocurrencies like Bitcoin (BTC) and emerging financial technologies, according to a Wednesday UC News story.

The reports state that the projects are being funded by Dan Kautz and Woody (Woody) Uible, who will provide them through the UC's Carl H. Lindner College of Business. The funding also covered the creation of public-private lab space in the new Digital Future headquarters, which is expected to open later in 2022.

Following the launch of this initiative, Dean Marianne Lewis, Ph.D., stated that students will be able to obtain hands-on, practical learning in the new field of financial technology, adding that:

"Our students will learn how to manage cryptocurrencies and how such digital assets impact our economy, positioning UC as the regional leader and among the top universities nationally with this kind of program.”

Education about cryptocurrencies has increased in popularity recently, especially among marginalized communities, as the new financial frontier allows people all around the world to create, innovate, generate money, and prosper. To assist such communities to take advantage of these possibilities, Jay-Z and Twitter co-founder Jack Dorsey have partnered to finance The Bitcoin Academy, a program for Mary Houses residents in Brooklyn, New York – where Jay-Z grew up - that teaches people about cryptocurrencies.

Related: US trademark filing hints at Arizona State University planning classes in the Metaverse

Other top universities have been getting on board with the blockchain and cryptocurrency craze as well. For example, the Massachusetts Institute of Technology (MIT). MIT is widely recognized for its ground-breaking research and demanding academic curriculum, and it is a leader in terms of blockchain technology, taking a research-first approach to the decentralized ecosystem.

Harvard has a vibrant blockchain student network with over 200 members. Weekly "Crypto 101" discussions are held, and there is an incubator on campus that allows students to develop and scale their cryptocurrency projects.

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US trademark filing hints at Arizona State University planning classes in the metaverse

The seven filings also suggested ASU could be exploring the use of nonfungible tokens to authenticate many documents from diplomas to tickets for university events.

One of the largest public universities in the United States by enrollment may be planning to launch virtual classes in the metaverse in the future. 

According to records submitted to the United States Patent and Trademark Office, or USPTO, on June 7 and June 8, the Arizona Board of Regents on behalf of Arizona State University filed seven applications for variations of its name — ASU, Arizona State, Arizona State University — as well as that of its football team, the Sun Devils, to be used in a virtual environment. The trademark filings included the university’s name as well as the Sun Devils’ pitchfork symbol and logo for use in “virtual environments in which users can interact for recreational, leisure or entertainment purposes” as well as for educational purposes.

For its Fall 2021 semester, ASU reported 77,881 students were enrolled at physical campuses in the U.S. states, while 57,848 people attended through ‘digital immersion’. It’s unclear whether the university’s potential move into the metaverse may have been prompted by having more than 42% of its enrolled students in online classes. ASU senior director of strategic learner and program mobilization Casey Evans said digital immersion coursework was the schools “best tool to enable students to continue learning during this time of physical separation,” likely referring to the ongoing pandemic.

Related: How to get a job in the Metaverse and Web3

The trademark filings also suggested ASU could be exploring the use of nonfungible tokens, or NFTs, to authenticate many documents from diplomas to tickets for university events. ASU has previously adopted blockchain technology for various uses within the university, including tracking the spread of the COVID-19 infection in November 2020 and sharing data from the academic records of its students in 2019.

Other universities have made similar initiatives to ‘go meta’ in 2022. Cointelegraph reported in May the University of Sao Paulo plans to conduct research on the effectiveness of virtual and augmented reality devices, as well as how their use could affect human behavior.

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Brazilian university USP will conduct academic research in the metaverse

The university wants to explore important research questions around psychology, human behavior and augmented reality inside the metaverse.

As reported by the University of Sao Paulo (USP), the metaverse-centric research will be carried out by research groups interested in 3D modeling, psychology and human behavior, and the effectiveness of virtual and augmented reality devices. These research domains will be evaluated within the context of the metaverse to understand how the new virtual world impacts user interactions.

USP professor Marcos A. Simplicio Jr. highlighted that this is the first time USP had received a nonfungible token (NFT) via partnership. The token in question is a rare piece of land in the United States of Mars (USM) metaverse, which is being built in collaboration with other universities.

"USP is the first university in Latin America to have a partnership with USM to support the construction of its metaverse," said Simplicio.

The partnership will initially feature a collaboration with researchers stemming from an existing agreement called the University Blockchain Research Initiative (UBRI), which is sponsored by Ripple.

As Cointelegraph reported, opportunities involving the metaverse were discussed at the World Economic Forum’s Annual Meeting, which concluded on Thursday. Specifically, the panel titled “The Possibilities of the Metaverse” explored how metaverse technologies can be used to enhance children’s learning. The panel featured Philip Rosedale, co-founder of High Fidelity; Pascal Kaufmann, founder of Mindfire Foundation; Peggy Johnson, CEO of Magic Leap; Hoda AlKhzaimi, assistant research professor at New York University, Abu Dhabi and Edward Lewin, vice president of Lego Group.

Related: Singapore venture firm launches $100M Web3 and metaverse fund

“One in three people using the internet are young adults and children, so I would really focus on building from kids’ perspective, given they are the future users,” Lewin said during the panel discussion.

The University of Sao Paulo and United States of Mars (USM), which recently rebranded from Radio Caca, have announced an agreement that aims to promote research around the technical, economic and legal aspects of the Metaverse. 

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Top universities have added crypto to the curriculum

Universities have been helping with blockchain-related research for quite some time and, now, some world-class universities have added the technology to their curriculum.

The world of digital assets saw a significant rise last year. The total cryptocurrency market cap reached $3 trillion, making more people, governments and universities take a closer look at the asset class.

The presence of crypto in the world’s major economies has created a big opportunity for diverse startups in the industry, leading to a massive demand for digital assets. This newly born market has helped develop more working and educational opportunities, among other things.

Furthermore, some of the world’s top universities and educational institutions including MIT, the University of Oxford and Harvard University, have added pieces of the burgeoning technology to their curriculums. 

Here are some of the top universities that have added blockchain-related subjects to their syllabus.

Massachusetts Institute of Technology

When it comes to research, few come close to the Massachusetts Institute of Technology (MIT). MIT is renowned for its groundbreaking research and competitive academic curriculum and is ranked second only to Harvard University. The institution is, without doubt, the leading university in terms of blockchain technology, taking a research-driven approach to the decentralized ecosystem.

The institution boasts of impressive academic staff, with current United States Securities and Exchange Commision Chair Gary Gensler teaching a blockchain course at the university. On-campus, it has one of the oldest Bitcoin (BTC) clubs called the MIT Bitcoin Club, which serves as the epicenter of blockchain discussions at the university.

The university famously launched the MIT Digital Currency Experiment back in 2014 and distributed Bitcoin to students in a bid to foster cryptocurrency adoption. The university has gone ahead with its peer-reviewed journal on Blockchain technology to catalog the growing interest of researchers in the field. True to the ethos of decentralization, the journal is distributed freely. 

Courses offered at the university include: 

  • Blockchain Ethics: The Impact and Ethics of Cryptocurrency and Blockchain Technology
  • B Digital Frontier: Emerging Blockchain Havens
  • Shared Public Ledgers: Cryptocurrencies, Blockchains, and Other Marvels
MIT's Building 10 and Great Dome. Source: Madcoverboy

Harvard University

Harvard is one of the oldest universities in the United States and has earned a reputation as part of the most prestigious universities in the world. Founded in 1636, the Ivy League college has churned out a record eight U.S. presidents, fourteen Turing Award winners and multiple Nobel laureates.

In line with the principles of excellence and innovation, Harvard has added blockchain education to its curriculum. For starters, the university teamed up with Coursera to provide six free courses on cryptocurrencies that cover the fundamentals all the way to intermediate levels. An online introductory course titled “Breakthrough Innovation with Blockchain Technology” explores the combination of AI and blockchain across several industries.

Harvard also offers a thriving blockchain student community with over 200 members. Weekly “Crypto 101” discussions are held and the presence of an incubator on the campus allows students to build and scale their cryptocurrency projects. 

National University of Singapore

Singapore is one of the leading cryptocurrency hubs in Southeast Asia and the National University of Singapore (NUS) is at the core of the crypto adoption. The university was founded in 1905 and its dedication to original research has consistently put it among the leading universities on the continent.

The university’s blockchain offering centers strongly around research and entrepreneurship with interesting essays being published on harnessing blockchain for decentralized computing and improving distributed consensus and smart contracts. NUS offers an in-depth blockchain curriculum that cuts across several fields and levels from beginners to CEOs and mid-level managers.

The school boasts of courses at both undergraduate and postgraduate levels with vibrant student-led crypto clubs. Furthermore, these crypto clubs allow students to learn from their peers and publish essays on the use and future of blockchain technologies. 

Leading courses in the curriculum include: 

  • Enterprise Blockchain And DLT for Executives
  • Blockchain, Digital Currencies, And Distributed Ledgers Start From Here
University Hall at the National University of Singapore. Source: Joshua Rommel Hayag Vargas

Oxford University

Oxford University occupies a leading place among world universities and holds the record of being the second-oldest university in operation. The English university ranks as having the largest university press and the largest academic library system that sets it apart from its peers. 

In terms of blockchain, Oxford is one of the leading centers of learning for the new technology in Europe, thanks to an expansive research center. The blockchain research center has produced a litany of interesting blockchain essays, with the Oxford-Hainan Blockchain Research Institute recording significant strides.

Oxford Foundry, the university’s entrepreneurship hub, has struck interesting partnerships with Ripple to facilitate a wider blockchain technology. The university has a vibrant student-run community called the Oxford Blockchain Society that competes favorably with its contemporaries in other institutions. In terms of learning, the university has one of the most comprehensive blockchain learning. Top courses include:

  • Blockchain Software Engineering 
  • Blockchain For Managers
  • Oxford Blockchain Strategy Program

Cornell University

Cornell University was founded in 1865 and has carved a niche for itself as one of the leading research universities in the world. The university is among the top five schools with graduates going on to pursue their PhDs and with an average of over $500 million spent annually on research and development, it’s easy to see why.

The university boasts an impressive alumni list that includes 33 Rhodes Scholars, 10 CEOs of Fortune 500 companies and 35 billionaires. Cornell University also offers undergraduate and postgraduate courses focused on blockchain technology. The caliber of the academic staff is impressive and made up of persons like Emin Gun Sirer, with multiple papers presented at blockchain conferences as far back as 2014.

Students from the university have secured roles in leading blockchain firms like Coinbase and ConsenSys through the help of the Cornell Blockchain Club. The club is student-run and has gone on to publish interesting papers on blockchain technology and famously hosted its annual conference with an impressive lineup of speakers from the cryptocurrency ecosystem. Courses offered at the university include:

  • Cryptocurrencies and Ledgers
  • Applications of Blockchain Technology
  • Introductions to Blockchains, Cryptocurrencies, and Smart Contracts 
  • Cryptography Essentials
The Arts Quad with McGraw Tower at Cornell University. Source: Eustress

University of California, Berkeley

Founded in 1868, the University of California, Berkeley is a leading institution for blockchain enthusiasts. The university’s diversity is evident in its fourteen colleges and over 350-degree programs that it offers to thousands of students. 

Research is one of the core reasons why the university makes the list as it has one of the longest streaks of blockchain research. The Berkeley Haas Blockchain Initiative is the main driver of blockchain research and is largely funded by Ripple Labs. Research grants are made available to students to dive deep into the applications of the nascent technology, with particular progress being made in the areas of stablecoins.

The university also offers a “Blockchain Fundamentals Professional Certificate Program” through the online education platform edX. In terms of curriculum, the University of California, Berkeley offers students an expansive blockchain offering that includes:

  • Lattices: Algorithms, Complexity, and Cryptography
  • Blockchain, Cryptoeconomics, and the Future of Technology, Business and Law
  • Blockchain Fundamentals

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Cambridge University launches crypto research project with IMF and BIS

Some regulators were recently concerned about the alleged lack of consistent and transparent data on crypto markets.

The University of Cambridge is collaborating with some of the world’s top banking institutions and private companies to introduce a new project targeting cryptocurrency research.

The Cambridge Center for Alternative Finance, or CCAF, has launched a research initiative aiming to bring more insights on the rapidly growing digital asset industry, the CCAF announced to Cointelegraph on Monday.

Dubbed the Cambridge Digital Assets Programme, or CDAP, the project is a public-private collaboration with 16 companies including public institutions like the Bank for International Settlements Innovation Hub and the International Monetary Fund. The initiative also includes banks like Goldman Sachs, financial giants like Mastercard and Visa, as well as major exchange-traded fund providers like Invesco.

Other participants include British International Investment, Dubai International Financial Center, Ernst & Young, Fidelity, the United Kingdom's Foreign, Commonwealth and Development Office, Inter-American Development Bank, London Stock Exchange Group, MSCI, and the World Bank.

As its core mission, the CDAP intends to enable evidence-based public dialogue about the opportunities and risks associated with the growing cryptocurrency adoption. The program will be focused on three main areas including crypto’s environmental implications, infrastructure, and digital assets, including stablecoins, central bank digital currencies, as well as cryptocurrencies.

According to the announcement, the program builds on the CCAF’s existing work in the crypto industry including the development of the Cambridge Bitcoin Electricity Consumption Index, CBECI. The CBECI is a widely-referred index to provide the global Bitcoin (BTC) mining hash rate distribution percentage among countries.

Bitcoin mining map as of July 2021. Source: CCAF’s CBECI

Other CCAF’s crypto research developments include the Global Cryptoasset Benchmarking Study series, designed to address ecosystem trends, inform regulation and policy discussion and others.

“The Cambridge Digital Assets Programme that we are launching today aims to meet the resulting need for greater clarity by providing data-driven insights through collaborative research involving public and private sector stakeholders,” CCAF executive director Bryan Zhang said.

According to CCAF digital assets lead Michel Rauchs, the CDAP will provide decision-makers with the objective analysis and empirical evidence that they need to navigate the digital assets industry.

Related: Global financial regulator wants more data to measure risks of Bitcoin

As previously reported by Cointelegraph, some global regulators have been increasingly concerned about risks associated with the lack of standardized and trusted data in the cryptocurrency industry. In mid-February, the Financial Stability Board warned that the crypto market lacks consistent and transparent data and its linkages with the core financial system, which poses a significant risk amid the rapid crypto adoption.

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Students Mining Crypto in Dorms May Face Criminal Prosecution in Russia, Lawyer Says

Students Mining Crypto in Dorms May Face Criminal Prosecution in Russia, Lawyer SaysUniversity students in Russia minting digital currencies in their dormitories risk penalties and even criminal charges, according to a legal expert quoted by local media. The warning comes as Russian authorities are trying to curb crypto mining with cheap energy in residential areas. Mining May Turn Into Risky Undertaking for Russian Students As more and […]

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Bitcoin is new gold for millennials, Wharton finance professor says

Gold disappointed investors in 2021 as a traditional hedge against inflation, seeing its worst year since 2015.

Bitcoin (BTC), the world’s most-valued cryptocurrency, has replaced gold as an inflation hedge for young investors, according to Wharton’s finance professor.

Gold’s performance was “disappointing” in 2021, Wharton School finance professor Jeremy Siegel said in a CNBC Squawk Box interview on Friday.

On the other hand, BTC has been increasingly emerging as an inflation hedge among younger investors, Siegel argued:

“Let’s face the fact, I think Bitcoin as an inflation hedge in the minds of many of the younger investors has replaced gold. Digital coins are the new gold for the Millennials. I think that the story of gold is a fact that the young generation is regarding Bitcoin as the substitute.”

Siegel also reminded that older generations witnessed how gold had soared during the inflation of the 1970s. “This time, it is not in favor,” he added.

Gold, which traditionally emerged as an asset class providing a hedge against inflation, failed to meet investors’ expectations in 2021, recording its worst year since 2015 and dropping around 5% to close the year at $1,800. Despite massive price fluctuations over the course of 2021, BTC had surged around 70% by the end of 2021.

Related: More billionaires turning to crypto on fiat inflation fears

Several prominent global investors supported BTC over gold in 2021, with Dallas Mavericks owner Mark Cuban arguing that Bitcoin was “better than gold” in October 2021. Starwood Capital Group co-founder Barry Sternlicht also said that gold was actually “worthless” and that he is holding BTC because every government was printing massive amounts of money.

But despite BTC becoming an increasingly popular asset against gold, many financial and crypto experts believe that it is yet to prove inflation hedge status.

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Russian ‘Time Capsule’ to Facilitate Inheritance of Crypto Assets

Russian ‘Time Capsule’ to Facilitate Inheritance of Crypto AssetsResearchers in Moscow are developing a new service that will allow users to transfer digital data to their heirs, including crypto keys. The Russian “time capsule” will be capable of storing and relaying other private information as well such as a record of the whereabouts of valuable items. Russian Universities to Provide Service Allowing Crypto […]

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The Chinese University of Hong Kong and ConsenSys create COVID-19 digital passport

The COVID-19 Digital Health Passport will be trialed by healthcare professionals in Hong Kong. Later on, patients will be able to access the passport through a mobile app.

The Chinese University of Hong Kong, or CUHK, has partnered with Ethereum developer ConsenSys to launch a new blockchain-based Medoxie COVID-19 Digital Health Passport – a product that could help healthcare workers combat the pandemic.

The passport utilizes blockchain technology to record a patient’s COVID-19-related events, including test results, temperature checks and vaccinations, with the aim of providing a safe pathway to full economic reopening post-pandemic. Information that is held on the passport is said to be stored securely and privately.

Initially, the digital passport will be accessed by medical professionals and academics within Hong Kong’s healthcare industry, paving the way for a new mobile app that will be extended to patients at a later date. The passport infrastructure has been built using ConsenSys Quorum and Codefi Orchestrate.

Dr. Arafet Ben Makhlouf, senior technical architect at ConsenSys, explained how the passport could help Hong Kong and other regions transition back to normal life following the multi-year pandemic:

“This COVID-19 blockchain passport uses trusted blockchain technology to protect user data, making it verifiable and secure. We are proud to support The Chinese University of Hong Kong with its efforts to apply innovative technologies to help health sectors and communities proactively respond to COVID-19, and transition back to life as normal.”

Related: ConsenSys and Securosys launch new long-term Ether staking protocol.

ConsenSys has been the recipient of major investments in recent years, culminating in a $65 million raise in April led by banking giants JPMorgan Chase, Mastercard and UBS.

The Chinese University of Hong Kong has been exploring the use of blockchain technology for several years. During the height of the pandemic in early 2020, a University professor claimed that blockchain technology could help prevent the spread of COVID-19.

The pandemic has infected more than 176.3 million people globally, according to Johns Hopkins University. Nearly 2.4 billion vaccine doses have been distributed.

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