US Government Grants $800K for Blockchain R&D 🚨 This article is 6 years old...
US Government Grants $800K for Blockchain R&D
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Updated: Mar. 24, 2020 at 6:49 am UTC
Photo by Conor Luddy on Unsplash
With growing adoption, blockchain integration continues to proliferate across nations worldwide. The U.S. government, meanwhile, has invested $800,000 in developing a research-oriented distributed ledger, called Open Science Chain.
US Researchers Develop Distributed Ledger
The U.S. government has granted $818,433 to researchers at the University of California-San Diego for the development of Open Science Chain (OSC), according to the National Science Foundation (NSF).
Researcher and software developer Subhashini Sivagnanam won the grant from NSF, a government organization dedicated to distributing federal funds to research initiatives and projects.
Working with the Data Enabled Scientific Computing division at the San Diego Supercomputing Center, Sivagnanam hopes to develop a distributed ledger that records and adapts scientific research data.
According to the NSF website, Open Science Chain is:
“A web-based cyberinfrastructure platform built using distributed ledger technologies that allows researchers to provide metadata and verification information about their scientific datasets and update this information as the datasets change and evolve over time in an auditable manner.”
The distributed ledger is meant to act as an adaptable digital record of scientific experiment data that can be updated as information is added. The grant will initiate on Sept. 1, 2018, and end on Aug. 31, 2021.
Global Blockchain Integration on the Rise
On July 5, IBM signed a 1 billion AUD (~$740 million) deal with the Australian government to upgrade data security systems using blockchain technology.
Through the agreement, IBM will provide technology services–including blockchain, artificial intelligence and automation–to the defense and home affairs departments of the Australian government.
The South Korean Ministry of Sciences and ICT announced its “Block Chain Technology Development Strategy” on June 21–divulging plans to invest over 230 billion KRW (~207M USD) into public and private blockchain projects.
The Ministry also revealed plans to use the allocated funds to enhance South Korea’s competitive advantage in the future of blockchain integration across applicable industries.
The initiative will hire 10,000 professionals to foster the development of 100 enterprises and create a blockchain-powered ecosystem for public and private sector services.
