The blockchain industry is beginning to attract the attention of different groups in different countries. Research is being carried out by so many establishments in a bid to learn as much as possible about this emerging technology that promises to change the world. In Vienna, COMET Centers, a body that is coordinated by the Austrian Research Promotion Agency, just approved the Austrian Blockchain Center (ABC). This is according to a press release of Nov 29.
Blockchain Research In Austria
The Austrian Blockchain Center is made up of 21 scientific institutions, 17 associated participants, 54 companies and 16 international institutions. The press release stated that the center is going to be multidisciplinary but it would focus mainly on logistics, IoT, energy, finance, and how they can be applied in public administration.
The academic coordinator and director of the center, Alfred Taudes, who is also the head of the Research Institute for Cryptoeconomics at the department of Economics and Business in the WU Vienna University, said that a multidisciplinary approach is the best way to carry out comprehensive research. The research will be targeted towards five key areas: cryptography and security, blockchain for business and cryptoeconomic modeling, blockchain manufacturing and emerging businesses, data science application in blockchain prediction and analytics, political and legal implication of blockchain technology.
The research center is going to work hand in hand with other COMET Centers and international blockchain initiatives. These COMET centers are backed and funded by the Federal Ministry of Economic and Digital Affairs, as well as the Austrian Ministry of Technology, Innovation and Transport. The provinces of Vorarlberg and Lower Austria will also support ABC.
The Austrian Government And Blockchain Technology
Over time, the Austrian government has displayed strong support for blockchain technology and blockchain initiatives. In September, it offered $1.35 billion in bonds on the Ethereum blockchain. When this move was made, the Finance Minister, Hartwig Loeger, said that the government is considering blockchain as the center of its focus on economic policy.
Also, last month, the Austrian government declared support for a United Kingdom cancer research company, Lancor Scientific. This company uses blockchain technology for its research. The company has successfully developed a device that can be used to test multiple forms of cancer and keep accurate records of screening tests on smart contracts on its blockchain. In time, the firm is going to open a research lab in Graz.