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 involves twenty one scientific establishments, around fifty four firms, seventeen associated participants, and sixteen international institutions and firms. In line with the press release, the FFG center would be multidisciplinary and will focus on Internet of Things [IoT], finance, energy, logistics, and applications in public administration.
Academic director and coordinator of the center and head of the research Institute for Crypto economics at Wu Vienna University of Economic and Business ‘Alfred Taudes,’ aforementioned that a multidisciplinary approach is “necessary for comprehensive analysis.”
The FFG center would conduct analysis, research and development in 5 different areas that include cryptography technology and security; crypto economic modelling and blockchain applications for business; rising industries and blockchains in manufacturing; data science strategies for blockchain analytics and predictions; and legal and political implications.
The new FFG center would supposedly work in collaboration with several other COMET Centers and international [Blockchain] initiatives. The centers are funded by the Austrian Ministry for Transport, Innovation and Technology, along with the Federal Ministry for Digital and Economic Affairs. ABC will also be receiving support from the provinces of Lower Austria and Vorarlberg.
The Austrian govt. has been proactive in its support for blockchain initiatives and development of the technology. Earlier in Sept., the govt set to supply a $1.35 Bln bond on the Ethereum blockchain. At the reporting time, Austria’s Finance minister, Hartwig Loeger, aforementioned that the ministry is considering blockchain technology as it forms a “focus on the economic policy.”
Even earlier this month, the Austrian govt supported a U.K. based cancer research and analysis firm that employed blockchain in its working procedures. Lancor Scientific, that has developed a tool to discover multiple kinds of cancer, records screening results with sensible smart contracts on a blockchain. The firm plans to open a research laboratory within the Austrian town of Graz.