In line with the recent press release issued, the COMET Centers, that are coordinated under the Austrian analysis and research Promotion Agency [FFG], have granted permission for the Austrian Blockchain Center [ABC] setup in Vienna.
ABC involvestwenty onescientificestablishments, around fifty fourfirms,seventeenassociated participants, andsixteen internationalinstitutionsand firms.In line with the press release, the FFG centerwould bemultidisciplinary andwill focus onInternetof Things [IoT], finance, energy, logistics, and applications inpublicadministration.
Academic director andcoordinatorofthe center and head of theresearchInstitute for Crypto economics atWuViennaUniversity ofEconomicand Business ‘Alfred Taudes,’aforementionedthat a multidisciplinary approach is “necessary for comprehensiveanalysis.”
The FFG centerwouldconductanalysis, researchand development in5 differentareas that include cryptography technology and security; crypto economic modelling and blockchain applications for business;risingindustries and blockchains in manufacturing;datasciencestrategiesfor blockchain analytics and predictions; and legal and political implications.
The new FFG centerwouldsupposedly work in collaboration withseveral other COMETCenters and international [Blockchain] initiatives. The centersarefundedby the Austrian Ministry for Transport, Innovation and Technology,along with theFederal Ministry for Digital and Economic Affairs.ABC will also bereceiving support from the provinces of LowerAustriaand Vorarlberg.
The Austrian govt. has been proactive in its support for blockchain initiatives and development of the technology. Earlier inSept.,the govtsetto supplya $1.35 Bln bond on the Ethereum blockchain. At the reporting time, Austria’s Financeminister, Hartwig Loeger,aforementionedthat the ministry is considering blockchaintechnologyas itforms a “focus on the economicpolicy.”
Even earlier this month, the Austrian govt supported a U.K. based cancer research and analysisfirm that employed blockchain in its working procedures. Lancor Scientific,thathas developeda tooltodiscovermultiplekinds ofcancer, records screening results withsensible smartcontracts on a blockchain. The firm plans to opena researchlaboratorywithin theAustriantownofGraz.