Latest New York City News

New York City is doing its part to spur on development in blockchain technology. The city’s Economic Development Corporation (EDC) announced on January 10 the opening of the new Blockchain Center in the Flatiron district, in partnership with Future\Perfect Ventures and the Global Blockchain Business Council. In a Bloomberg report, the 4,000-square-foot center is said to offer coding classes and lunch lectures for developers and the general public. The city put $100,000 towards the center, with the rest of the money coming from Microsoft Corp. and International Business Machines Corp., with the operators hoping to raise more money from membership dues. Jalak Jobanpuntra, managing partner at Future\Perfect, told Bloomberg, “This is a neutral spot, there’s no one platform or company that has undue influence over programming. What we want entrepreneurs to have is a choice.” Ana Arino, chief strategy officer at the EDC, said of their goals, “It’s a nascent technology, so there’s bound to be uncertainty around this evolution from year to year. While we don’t know what the future holds, we want to make sure we have a seat at the table shaping it.” New York State is already getting plenty of attention from crypto developers. The state has issued Bitlicenses to several companies, allowing them to offer exchange services to residents. They’ve also formed a crypto task force to better understand and regulate the industry better. These positive developments lead companies like Canaan to consider planning their initial coin offerings in New York City, rather than other jurisdictions. This is not the first blockchain-related space in the city. Bitcoin Center NYC opened in 2013 and hosts monthly events. Between that center and this new Blockchain Center, the Big Apple may very well become a hotbed for digital currency development.