Universities in Scotland, Singapore work to improve blockchain technology

Universities in Scotland, Singapore work to improve blockchain technology

Blockchain technology has quickly become the central idea behind protecting cryptocurrencies across the globe. Nearly every Fortune 500 company is already investing in some form of blockchain technology to enhance its security and business operations.

Now, two universities located 10,000 miles from each, other are joining the race to improve the R&D blockchain technology. On Wednesday, the University of Singapore announced a cooperative effort with Chongqing Jinwowo to work on a joint effort in research and development to improve this technology for the future.

On the same day, it was announced that the University of Edinburg was investing somewhere between $500,000 all the way up to $1 million to begin a project working with blockchain technology in their School of Informatics. The University would be working in partnership with IOHK, an engineering firm that helps to build cryptocurrencies and blockchains for academic institutions as well as governments and corporations.

For Jinwowo, this is the perfect opportunity to gain the technical strengths that the National University of Singapore would provide. It is expected that the University will be able to provide a significant amount of technical support which will help to greatly enhance both the artificial intelligence and blockchain technology of the company. The goal is to be able to provide much more effective and accurate services as well as a higher degree of cybersecurity, each of which should be upgraded greatly by working with the college. In return, Jinwowo will award both scholarships and employment and internship positions for graduates.

In Edinburg, the purpose of the joint venture will be to increase the amount of research dedicated to cryptocurrencies and to solve the problems that have arisen around the use of blockchain technology.

The University has long been one of the leading universities for disciplines such as quantum mechanics, artificial intelligence, and information technology, and it is believed that the students and faculty could play a significant role in aiding in the improvement of the technology. The venture is not only intended to improve the technology, but it is believed that the investment will help to lure the best minds from across the globe to the University to work on the venture.

This isn’t the first time that a University has agreed to cooperate with a large corporation to improve blockchain technology. About two weeks ago, the Tokyo Institute of Technology, the leading technology University in Japan, agreed to work with a large technology company to create a blockchain center. With this kind of cooperation between universities and major corporations, it would not be surprising to see dozens of these kinds of agreements arise over the next few years.

New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.