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The COMET centers, coordinated by the Austrian Research Promotion Agency (FFG), approved the Austrian Blockchain Center (ABC) in Vienna, according to a press release dated 29 November.
ABC involves 21 scientific institutions, 54 companies, 17 associate participants and 16 international institutions and companies. According to the statement, the research center will be multidisciplinary and will focus on the Internet of Things (IoT), finance, energy, logistics and applications in public administration.
Alfred Taudes, academic director and coordinator of the center and head of the Cryptoeconomics Research Institute at the University of Economics and Commerce of the University of Vienna, said that a multidisciplinary approach is "necessary for research full ".
The center will conduct research and development in five different areas; cryptographic technology and security; cryptographic modeling and blockchain applications for businesses; emerging industries and blockchain in production; data science methods for blockchain analysis and forecasting; and legal and political implications.
The new research center will work in collaboration with other COMET centers and international blockchain initiatives. The centers are funded by the Austrian Ministry of Transport, Innovation and Technology and the Federal Ministry for Digital and Economic Affairs. ABC will also receive support from the provinces of Lower Austria and Vorarlberg.
The Austrian government has been proactive in supporting blockchain initiatives and technology development. In September, the government offered to offer a $ 1.35 billion bond on the Ethereum blockchain. At that time, Austrian Finance Minister Hartwig Loeger said the ministry is considering blockchain technology as a "focus on economic policy".
Earlier this month, the Austrian government supported a UK cancer research company that uses blockchain in its work. Lancor Scientific, which has developed a device to detect multiple types of cancer, records the results of screening with smart contracts on a blockchain. The company plans to open a research laboratory in the Austrian city of Graz.
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