Imperial College London Sets up Research Center for Blockchain Studies

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Imperial College London Sets up Research Center for Blockchain Studies

Imperial College London, a public research university, located in London, United Kingdom that specializes in fields of science, engineering, medicine and business and is regarded as one of the leading science-based universities in the world, has decided to set up a center to study blockchain technology. The initiative is being appreciated by the larger student community.

According to the announcement from Imperial College London they have established a research center dedicated to blockchain initiatives. The first information regarding this came when the university’s summer newsletter came to public wherein it says that the Centre for Cryptocurrency Research and Engineering is being set up.

The center grew out of previous Imperial College efforts aimed at exploring Bitcoin and the blockchain. The university which was founded in 1907 is considered one of the world’s top technical institutes and the center is expected to attract the best talent that may give breakthrough and innovative solutions in blockchain technology.

The Decision in Response Staff and Students Requests

The interest in blockchain technology is growing up not just among the venture capitalists but also among the universities. The college says that this is in the response of requests from staff and students. According to the centre it will now coordinate research grants directed at designing and engineering improvements to the protocols that underpin blockchain technology.

Additionally, the newsletter informs that the college will coordinate application-based funding directed at prototyping chain-based solutions across multiple domains. The launch of the research center at Imperial College represents a growing interest amongst academic institutions in the technology that is looking to give a new life to the cryptography.

Increasing Interest for Blockchain Technology among Science Research Centers

Talking about the decision from the college, Professor William Knottenbelt who teaches at the university’s Department of Computing said that he will act as the Centre’s first director. He admitted that the initiative represents “a due recognition of the exciting cryptocurrency-related work being carried out by staff and students across many departments” at Imperial College.

The professor was quoted saying that the college intends to focus on two areas i.e. first, conducting research directed at designing and engineering improvements to the protocols underpinning blockchain technology and second, exploring novel blockchain-based applications across multiple domains.

According to him the college is looking forward to considerably broadening the industrial and academic collaborations through the activities of this new centre.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com