Austrian Government allocates €8 million for blockchain research

This funds will be directed to establishment of a new Research Institute for Cryptoeconomy at University of Vienna
07 December

In the beginning of December the first meeting of invited experts took place at University of Vienna. The event was graced by the presence of Austrian Minister of Science, Research and Economy Harald Mahrer. The main effort of the gathering was establishment of a new Research Institute for Cryptoeconomy, which will be headquartered in Vienna.

The newly created institute will focus on development of new implementations of blockchain technology in digital services. Austrian private sector expressed great interest in blockchain technology usage to regulate different aspects of existing and emerging business ventures. One of the major Austrian energy suppliers, Wien Energie, is interested in several possible applications of blockchain, including regulation of peer-to-peer energy transfer. In turn, Austrian government indicates, that it will support the new regulations that will legally enable such uses of blockchain.

During the meeting Mahrer announced, that Austrian Government will support the Institute by allocating €8 million research fund. He stated, that the business will greatly benefit from using blockchain technology and that it's essential to explore this possibilities without restrictions from regulatory efforts.

Intel to Apply Blockchain Mining to Genetic Sequencing

Intel intends to utilize the energy expended during cryptocurrency mining for the sequencing of genetic data
15 December

Yesterday the U.S. Patent released a patent application called "Blockchain System with Nucleobase Sequencing as Proof of Work". In the application Intel’s inventors describe a type of computer called a sequence mining platform (SMP) which would identify the order or nucleobases in a deoxyribonucleic acid (DNA) or ribonucleic acid (RNA).

Nucleobases are the molecules that make up DNA and RNA, which contain the genetic information within every living organism on the planet. The order of these bases determines what physical traits a person, plant or animal features.

The patent application states that the SMP would use a nucleobase sequencing unit to actually establish the order of nucleobases in a given sample, which would then be verified by the blockchain before being permanently recorded on it.

The POW algorithm will be used to both identify the sequence and subsequently verify it, according to the application, and the sequence recorded on one block would be used as a base for the POW problems in the next block.