The Hong Kong Polytechnic University (PolyU) is working side by side with Monash University and CollinStar Capital, in order to establish the first university joint research laboratory in distributed ledger technology and cryptocurrencies.
Hong Kong Polytechnic University Works with Blockchain Tech
Blockchain technology is expanding everywhere, and institutions and other enterprises are embracing it. Hong Kong is a key player in the industry with important crypto and blockchain enterprises located there. That’s one of the reasons why the PolyU is working with this technology.
Distributed ledger technology is being applied to different fields, including health, finance, robotics, communications, transport, energy, and many others. But there are many challenges ahead that will require heavy investment in research and development. What will happen with this technology in ten years when Quantum computers will be able to threat Blockchain and cryptocurrency security.
The research team at PolyU’s university will be guided by Dr Allen Au, Assistant Professor of Department of Computing. The main purpose will be to enhance blockchain efficiency, privacy and security.
Dr. David Chung, Under Secretary of innovation and Technology said:
“Positioning itself as the leading research and technology advancement centre in Asia-Pacific in the focused areas of blockchain and cryptocurrency, I am confident that the joint laboratory will help foster the development of these technologies in Hong Kong.”
There are many programs in different countries that are aimed at improving blockchain technology. At the same time, there are many venture businesses that are supporting blockchain companies to keep developing their products. Another way that big enterprises have to participate in the blockchain innovation process is through accelerator programs.
“By joining hands with Monash University and Collinstar Capital, we will continue to drive the advancement in blockchain ecosystem,” commented Professor Alex Wai, Vice President of PolyU. “Through this collaboration, PolyU is devoted in making the cyberspace safer, more convenient and effective for businesses and financial services.”
“We believe this collaboration will make influential change to the way of business and our living in the future,” he stated.
Image Provided by MundoGeo and Hong Kong Polytechnic University.