Stanford University sets up blockchain research centre
Stanford University has set up a unit dedicated to blockchain research and development.
The Californian institution has created the Center for Blockchain Research, in collaboration with the likes of the Ethereum Foundation.
Research
Research is to be focused on how blockchain technology can transform traditional business relationships.
In a statement, the university said the new centre would address blockchain’s “practical, legal and societal challenges.”
It also wants to develop a curriculum so blockchain can be covered across “a variety of fields and applications.”
The initiative is being led by Dan Boneh and David Mazières, both computer science professors.
Centre to address blockchain’s “practical, legal and societal challenges”
Barriers
“Blockchain massively lowers the barriers to creating tradeable, digital assets. It allows individuals who don’t know each other, or even trust one another, to make irreversible transactions in a whole variety of fields in a safe and secure way,” commented Mazières.
The duo underline key benefits of blockchain such as “traceability, security and transparency.”
Questions
However, they acknowledge challenges like scaling the technology to billions of users.
“This is a fascinating area of research with deep scientific questions. Once you get into the details you quickly realise that this area will generate many PhD theses across all of computer science and beyond,” said Boneh.
Along with the Ethereum Foundation, the initial five-year research programme is being underwritten by Protocol Labs, the Interchain Foundation, OmiseGO, DFINITY Stiftung and PolyChain Capital.