April 4, 2019 – In an attempt to launch the world’s first Massive Open Online MBA (MOOMBA) via the ingenious integration of the blockchain technology, artificial intelligence (AI) and learning analytics, EIU TECH Co., Ltd., a Thailand-based Education Technology company, and the European International University, have entered into an agreement, via signing of a Memorandum of Understanding (MOU), to leverage on each other’s strengths and capabilities to make the project a reality.
Through this agreement, both parties have expressed their intentions to perform distinct roles to make the LOL project a success. Having the full ownership of the LOL Project, EIU TECH plans to build an OnLine Learning platform on the Blockchain technology, enabling self-executing smart contracts activated through the use of the utility token called LOL Coin, which is native to the LOL Platform – to govern all exchanges between parties involved, without the need for any intermediaries, hence significantly minimizing disputes that may arise from utilization of inefficient traditional records management approaches.
Among others, the platform would ensure the security of learners’ personal data, enable learners to earn credits via the proof of study protocol, as well as facilitate the validation of learning experiences which would ultimately lead to the obtainment of professional and academic certification.
The European International University, on the other hand, is tasked with providing academic support services to this project, by auditing courses and course contributors, monitoring overall learning experiences of students, and certifying successful completion of units of learning. As such, the European International University plays a supportive role to the overall development and progress of the LOL project, spearheaded by the EIU TECH Co., Ltd.
It must be noted that EIU TECH engages the above-mentioned services of the European International University on a goodwill basis and as such, the relationship between the two entities is based on collaboration for Technological Research & Development rather than financial. Further, it must be noted that the logo of LOL Project symbolizes the collaboration between the two entities, and as such DOES NOT in any way connote any ownership of the project nor the LOL COIN to the European International University. EIU TECH Co., Ltd. (Thailand) reserves full ownership rights to and for the LOL Project, as well as the LOL COIN – which is a native utility token to be utilized on the LOL, Learn OnLine Platform.