World’s largest blockchain center, the Austrian Blockchain Center (ABC), has been approved and will be developed in Vienna.
Essentially what this means, is that Austria has made a bold step forward towards state-funded blockchain research, which is planned to be multidisciplinary with special attention to such fields as the Internet of Things (IoT), energy, finance, and logistics, as well as apps for public administration.
Academic director and coordinator of the center, Alfred Taudes, and head of a crypto economics research center at the Vienna University of Economics and Business, believes that a multidisciplinary approach is what is required for research of this kind. Research at the center will be divided into five different fields:“cryptography, technology & security, crypto economic modeling & blockchain applications for business, emerging industries & blockchains in manufacturing, data science methods for blockchain analytics & prediction, and legal and political implications.” Each research area is aimed at improving its area of interest, as well as developing and moving blockchain technology forward and making it more accessible.
Funded by the Austrian Ministry for Innovation and Technology, Transport, and the Federal Ministry for Digital and Economic Affairs, the center will work together with other similar structures for maximum output.
Increasing interest to the blockchain sector can be seen worldwide, despite the crypto market down, with countries passing pro-crypto laws. Recently the price of the top cryptocurrencies has experienced a severe drop, however, it's apparent from such initiatives that faith in blockchain has not left its followers.
Earlier Malta welcomed its first foreign direct investor to its Gonzo Hub to advance blockchain technologies. Development initiatives of blockchain are still strong, and more similar endeavors can be expected in the future.
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