Vienna: Center for Blockchain Research Receives Million Euro Grant

The state-subsidised Austrian Blockchain Center (ABC) is to make Austria internationally competitive in the field of blockchain development.

Far away from Bitcoin: A new centre for the news spy research is being built in Vienna

The fact that Blockchain is more than just Bitcoin should be known by now. Austria is forcing its efforts in the news spy research. Here is the review by onlinebetrug. The Austrian Blockchain Center (ABC) in Vienna is an interdisciplinary network of science and industry dedicated to the further development of blockchain applications. ABC is a so-called COMET centre co-financed by the Austrian Research Promotion Association (FFG). As the FFG announced on its homepage on 28 November, the state will contribute a total of 17 million euros to ABC and two other COMET newcomers.

ABC is based in the Institute for Production Management at the Vienna University of Economics and Business Administration. In addition to 21 scientific institutions, 54 companies are involved in ABC. In addition, there are 17 companies, most of them international. This can be seen in a press release issued by the Vienna University of Economics and Business Administration on 29 November. The Austrian Blockchain Centre will focus on five main problem areas:

The coordination of the five areas is the responsibility of different institutes. While the Vienna University of Economics and Business Administration is responsible for modelling crypto-economic models and applications, SBA Research, another COMET centre, coordinates the field of cryptography, technology and security.

Exemplary blockchain funding far away from Bitcoin secret

As a COMET centre in category K1, the project will receive state funding of up to 2.55 million euros per year for the next eight years. With the foundation of the ABC, the Alpine Republic underlines its progressive attitude towards the technology that lies under Bitcoin secret: It is to be welcomed that money is now really being taken in hand to promote blockchain development. On the part of the German Federal Government one misses such signals still – even if vague statements let see through that the topic enjoys growing Prominenz.

After all: Health Minister Jens Spahn has called for a blockchain competition. However, this will make a comparatively small contribution to blockchain development, especially in view of Austria’s millions in funding.