Blockchain companies are funding university research centers to advance growth
Universities are setting up physical and virtual research hubs dedicated to advancing blockchain technology through scientific and educational knowledge.
The demand for organizations to adopt blockchain technology is growing rapidly. Recent findings from market research and advisory firm Custom Market Insights revealed that the global blockchain technology market size was valued at $4.8 billion in 2021, but this amount is expected to reach $69 billion. by 2030. Although notable, it has become essential for the industry to enable rigorous research on the development of the blockchain sector.
Tim Harrison, vice president of community and ecosystem at Input Output Global (IOG) – the developer arm behind the Cardano blockchain – told Cointelegraph that over the past year, the ecosystem of the blockchain has witnessed various risks in projects that have taken a 'go fast and break things.
"Not only do these companies run these risks for themselves, but errors and failures can also have a negative impact on their end consumers," he said. As such, Harrison believes peer-reviewed research can help prevent such situations while addressing issues that persist from previous iterations of blockchain development.
Companies finance research centers run by universitiesTo ensure that blockchain projects are thoroughly researched in the future, Harrison noted that IOG recently funded a $4.5 million blockchain research center at the Stanford University. According to Harrison, the goal of the hub is to enrich the body of scientific knowledge within the blockchain and distributed ledger industry while placing more emphasis on basic research.
Although the Stanford Blockchain Research Hub was just announced on August 29, 2022, Aggelos Kiayias, chief scientist at IOG and professor at the University of Edinburgh, told Cointelegraph that he believes the center would help the industry collectively solve the current challenges. .
For example, Kiayias pointed out that IOG previously donated $500,000 to fund blockchain scalability research with...
Universities are setting up physical and virtual research hubs dedicated to advancing blockchain technology through scientific and educational knowledge.
The demand for organizations to adopt blockchain technology is growing rapidly. Recent findings from market research and advisory firm Custom Market Insights revealed that the global blockchain technology market size was valued at $4.8 billion in 2021, but this amount is expected to reach $69 billion. by 2030. Although notable, it has become essential for the industry to enable rigorous research on the development of the blockchain sector.
Tim Harrison, vice president of community and ecosystem at Input Output Global (IOG) – the developer arm behind the Cardano blockchain – told Cointelegraph that over the past year, the ecosystem of the blockchain has witnessed various risks in projects that have taken a 'go fast and break things.
"Not only do these companies run these risks for themselves, but errors and failures can also have a negative impact on their end consumers," he said. As such, Harrison believes peer-reviewed research can help prevent such situations while addressing issues that persist from previous iterations of blockchain development.
Companies finance research centers run by universitiesTo ensure that blockchain projects are thoroughly researched in the future, Harrison noted that IOG recently funded a $4.5 million blockchain research center at the Stanford University. According to Harrison, the goal of the hub is to enrich the body of scientific knowledge within the blockchain and distributed ledger industry while placing more emphasis on basic research.
Although the Stanford Blockchain Research Hub was just announced on August 29, 2022, Aggelos Kiayias, chief scientist at IOG and professor at the University of Edinburgh, told Cointelegraph that he believes the center would help the industry collectively solve the current challenges. .
For example, Kiayias pointed out that IOG previously donated $500,000 to fund blockchain scalability research with...
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