Monday, June 24, 2019

Austria Approves World’s Largest Blockchain Center

Austria has launched the largest Blockchain centre in the world for the research of Internet of Things; applications in the public sector and administration; and financial, energy, and logistics sectors. Centre, the research centre has 54 companies, 21 scientific institutions, and 17 associated participants.

ABC to Encourage the Development of Blockchain-based Applications

The COMET Center as it is called is also known as Austrian Blockchain centre (ABC). The ABC aims to encourage the development of Blockchain-based applications. Accordingly, five key areas have been chosen as a focus. This will include Cryptoeconomic Modelling & Blockchain Applications for Business; Cryptography, Technology & Security; and Data Science Methods for Blockchain Analytics & Predictions

Based on a press release by the WU Vienna University of Economics and Business, research on how to use Blockchain technology is important. The centre is another way for the country to meet the ever-changing trends in technology and also partner with other reputable tech-giants in the US and Asia. Most importantly, it will create jobs for its citizens and make Austria “one of the most innovative countries in Europe”.

The report also made it known that other than the center, there were several blockchain applications as well as business models in the country. It attributed this to the efforts of startups, research and development institutions, and stakeholders. Nevertheless, more support is to be given to the Blockchain field in order to strengthen what had already been started.

More Institutions Offering Blockchain Courses and Programs

In November this year, the University of Tokyo received an 800,000 dollars donation to start a blockchain course. A Japanese banking company, as well as Ethereum foundation, were part of those who donated. In that regards, a course has been slated to run for three years, and it will end in 2021.

Also, On November 26, Bahrain launched its first professional academy which will award a certification of a Blockchain professional to participants. The training programme will run for five days, and it is open to IT professionals who want to further their knowledge when it comes to the Blockchain.

This development shows that more institutions are trying to encourage the application of Blockchain technology in the real world. Those who have an interest in learning how to use these modern technologies have been encouraged. The government like that of the UAE has not been left out. In a recent meeting, the leaders of the country set up two initiatives focused on Blockchain Technology and Artificial Intelligence.

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