US Government gives 800,000 Dollars to Blockchain Researchers

Blockchain research

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The United States government has resolved to fund a distributed ledger platform which is being developed by specialists and developers from the University of California-San Diego. Subhashini Sivagnanam a software architect and researcher working with the Data Enabled Scientific Computing Division (DESCD) at the university’s super-computing Center won a total of 818 433 dollars from the National Scientific Foundation. The reward was to enable the researcher to develop an Open Scientific Chain famously known as OSC. The researchers aim to develop a distributed ledger which will work to help the researcher’s access data and verify it.

The National Scientific Foundation is a scientific organization which is the anchor for research activities in the United States. The government has also sponsored several blockchain projects in the past years. The supported projects include some which are focused on doe aspects of cryptocurrency as well as blockchain technology.

The project will entail web-based cyber-infrastructure which will be build using ledger technologies. This will allow researchers to verify their data regarding scientific data. Researchers view blockchain technology as the next big thing. This is because the technology is secure, fast and transparent. Blockchain technology is also said to lead the next industrial revolution. The technology is already being used by some of the biggest companies to control their systems.

Samsung is one good example of such companies. Samsung developed a blockchain technology to help control its supply chain technology. After adopting the technology the company stated that it reduced its expenses by 20%. Blockchain technology was brought to limelight by Bitcoin in 2009 when it was launched. Blockchain technology is the underlying technology for all digital currencies and its popularity continues to grow.

Governments have now set aside funds and departments to look into Blockchain technology. This technology can be used to improve service delivery by governments.

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