National Chinese Science Academy to Launch Blockchain Lab

China continue to move forward to distributed ledger technology
21 June 2018   901

Chinese Academy of Sciences (CAS) reported that together with the Beijing blockchain start-up Tai Cloud Corp has established a new "Big Data and Blockchain Laboratory" whose activities will focus on "the relationship between the technology of blockchain and mathematics". This is reported by Coindesk.

Xiaoshan Gao, deputy director of the Center for Mathematics and Interdisciplinary Sciences at the CAS, said that, in his view, mathematical methods play a "key" role in many fundamental problems of blockchain technology.

This laboratory, established shortly after Chairman Xi Jinping of China endorsed the blockchain technology at the annual scientific conference held by the CAS in May, is not the first step of the CAS in the field of the blockchain. Earlier this year, the Academy announced that it was going to develop a platform capable of "simultaneously support public, private and consortium blockchains."

The fact that China may have big plans with blockchain, despite the ban imposed last year on crypto trading, became clear at the end of May, when Xi Jinping admitted that the blockchain has potential, for the first time publicly supported the developing technology .

Bakkt to Release Consumer App This Year

The app can be used for a wide range of tasks, e.g., crypto and securities trading, virtual goods purchase, etc
23 January 2020   101

Institutional Investor Platform Bakkt will release an app for retail investors this year, with which users can pay with cryptocurrency.

According to the president of Bakkt Adam White at the World Economic Forum in Davos, the application can be used for a wide range of tasks. In addition to trading cryptocurrencies, it will support various virtual “goods” like points of loyalty programs.

In addition, in the future it is possible to add securities trading, as well as the creation of a portal for shops and merchants. That is, the application will be more like a traditional fintech product like PayPal than a solution from a cryptocurrency exchange.

Although the Bakkt platform was originally created for institutional investors, the new director of Mike Blandina is very serious about entering the retail market. Earlier, he said that the application for retail investors should be released in the first half of 2020.

I do not think we are there yet. What gives me optimism is that we are seeing a lot of developer interest. I am confident that someone is going to find something.


Adam White

President of Bakkt

 White added that the cryptocurrency market is still underdeveloped.