But Lawrence Lessig, a law professor at Stanford University, warns that e-commerce firms will push for such certificates and that governments may one day require them.

ECONOMIST: Stop signs on the web

It is hoped the e-university will meet the challenge of US universities like the Massachusetts Institute of Technology, and Stanford in California, which offer virtual degrees.

BBC: Universities told to catch the e-wave

Dmitri Vayanos, a professor of finance at L.S.E. who runs the Woolley Centre, has presented some of its research at Stanford, Columbia, the University of Chicago, and other leading universities.

NEWYORKER: What Good Is Wall Street?