A few days after Binance announced with its Indian corollary, WazirX, that it was investing a fund of $50 million for blockchain development in India, the crypto giant has revealed the establishment of a blockchain research institute in Shanghai, China.
The announcement was made on 30 March, and it was further made public that the Lingang Blockchain Technology and Industry Research Institute intends to be the think tank for the growth of blockchain in China.
‘Accelerating the Application of Blockchain Technology’
The aim of the venture, as elaborated by Binance, is to shape the advancements in blockchain technology and ‘accelerate its application’ by means of integration with other modern technologies like artificial intelligence (AI), big data and the Internet of Things (IoT).
Helen Hai, leader of this project, emphasized on a sustainable future for blockchain and stated that the goal of the establishment of the Institute is to build a ‘leading think tank and research hub’ which will lead to large scale developments in blockchain technology and its contribution to the society—
“Leveraging Binance’s blockchain ecosystem and industry resources, we are committed to building the blockchain industry, driving blockchain research, and cultivating top blockchain talent.”
The executive chairman of the Blockchain Research Institute, who would also act as the dean of Lingang Blockchain Academy, Don Tapscott, said that blockchain is a representation of ‘internet of value’ which can help in furthering the development of other organizations in future.
Focus on Academia As Well As Professional Courses
The Lingang Research Institute aims to accelerate research, applications, and developments related to blockchain all across the globe. The focus would not only be on academic research but on blockchain talent, development of technical and enterprise skills, consulting services and professional courses as well.