Rise of the Blockchain Research Lab: The Latest Trend in Crypto

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Rise of the Blockchain Research Lab: The Latest Trend in Crypto

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Blockchain labs are becoming increasingly more prevalent in the industry for research as a backbone to a sound strategy of strong blockchain development.

In the current climate, companies are searching for solid foundations on which to build projects. Research and development projects created in the labs are beginning to offer startups this security. Labs can highlight the opportunities available and long-term potential of a given project prior to companies diving into the deep end untested.

The lab trend is growing. Cardano, for example, is one platform which has been established with a research-based approach. Blockchain development firm IOHK, led by Charles Hoskinson, launched Cardano last year using its peer-reviewed academic research driven base to consider the needs of both users and regulators. Funding will be utilized to finance research staff, PhD studentships and a virtualized blockchain environment moving into the future.

As reported last month by Bitcoin News, even the Russian military has announced its own blockchain lab, this time targeting cybercrime in the country’s military infrastructure information systems. The ministry has initiated a program to enhance cybersecurity by setting up a special unit using a unique research laboratory at the Anapa-based ERA technopark, in order to track the origins of cyber assaults. The unit will now use blockchain technology to improve the systems database security.

In June, the National Mathematics and Interdisciplinary Science Centre at the Chinese Academy of Sciences created the Big Data and Blockchain Lab, in a partnership with Beijing Tai Yun Technology Company. This new laboratory aims to explore blockchain technology with mathematics in order to make critical improvements.

Again in China, the Digital Currency Research Lab of the People’s Bank of China (PBoC) has announced that it is to expand its blockchain research efforts, by launching a new fintech center in Nanjing, in Jiangsu Province, with other cities yet to be announced, also located outside of the capital Beijing.

The goal of these labs is to develop programs to trial in banks and academic institutions such as PBoC’s Jiangsu branch, the Bank of Jiangsu and the University of Nanjing.

 

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