Austrian capital to have a new research center Blockchain – Fili BTC

Of& nbspRushali Shome

The plan for the Austrian Blockchain Center or ABC was illuminated by the COMET centers, which operates under the aegis of the FFG, an agency to promote research in the country. According to the recent press release, the new Center will be set up in the capital of the country, Vienna.

The plan for the ABC would include inter-functionalities and coordination between 54 companies, 21 scientific institutions, 16 international participants and 17 allied institutions. The research center will not be limited to a single sphere, which is blockchain, but will also dedicate time and resources to research in IoT (Internet of Things) technology, finance, blockchain in energy and logistics, supply chain management and even applications in governance.

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Clearly, the decision to make this multidisciplinary center was motivated by the goal of making research more complete and collaborative. The academic director and center coordinator, Alfred Taudes, said that multidisciplinary work will help them develop more in-depth solutions and conduct more in-depth research. Taudes also directs the Research Institute for Cryptoeconomy at the University of Economics and Commerce of the University of Vienna, and is clearly suited for his new role.

The main research areas to be undertaken by the new blockchain research center include:

a) blockchain applications in business

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b) security and technological robustness through cryptographic mechanisms

c) role of blockchain technology in manufacturing industry

d) emerging industries where blockchain technology can be adopted

e) politico-legal implications of the blockchain of use

f) use data science to analyze blockchain data files and make predictions based on them.

This new institute will work in cooperation with all the other structures established by the COMET Centers. Moreover, it will work naturally along with other international projects and research initiatives concerning the blockchain. Funding for the COMET facility and centers in general comes from the country's Ministry of Transport, Innovation and Technology. The Federal Ministry for Digital and Economic Affairs is also at the service of these. Two provinces, namely Vorarlberg and Lower Austria, will also offer their support and assistance.

The government of Austria had long been rather supportive of developments in blockchain technology. At the beginning of this year, in September, the Austrian government decided to offer a bond on the Ethereum blockchain, with a bond of about 1.35 million dollars. The fact that the country heavily emphasizes the developments of the fintech was clarified by the comment of Finance Minister Hartwig Loeger, when he stated that the focus on blockchain was a means to strengthen their own economic policy.

In November, the government also extended support to a British cancer research company that uses blockchain technology. Lancor Scientific, as the company is known, wants to set up a research center in Graz, Austria, to develop a device to identify various types of disease.

Rushali Shome

Rushali Shome is a history student with a keen interest in word games, politics and beyond. When you do not type furiously in the "Notes" section of your phone, it can be found by trying to capture the servers' attention in restaurants or weddings for a second help.