Austria has blockchain center, seeks to be one of most innovative countries in EU

02 Dec, 2018 | Updated: 02 Dec, 2018
by Fifi Arisandi
Austria has blockchain center, seeks to be one of most innovative countries in EU

Austria just established a blockchain center, expects to make them one of the most innovative country in the Europe. 

The Austrian Research Promotion Agency (FFG)’s arm of competencies development and promotion, the COMET Centers just announced the establishment of their very own blockchain center.

The Austrian Blockchain Center (ABC) will involve 21 scientific institutions, 54 companies, 17 associated participants, including 16 international institutions/companies to conduct a comprehensive research that focuses on the blockchain technology and its use.

In more details, the research topics are grouped into five areas; they are the Cryptography, Technology & Security, the Cryptoeconomic Modelling & Blockchain Applications for Business, Emerging Industries & Blockchains in Manufacturing, Data Science Methods for Blockchain Analytics & Predictions, and lastly, Legal and Political Implications.

The official announcement mentioned one example of the expected result of the research, which is the improvement of customer identification and the related compliance of banks and insurance companies.

Furthermore, with the development of the ABC, the Austrian government expects to be one of the most innovative countries in the Europe, by strengthening the implementation of blockchain-based applications and business models, which would be the key to the creation of new jobs.

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