Stanford University is launching a new blockchain research centre, backed by a core group of crypto startups and organisations.
The Centre for Blockchain Research boasts two of the university’s professors with specialties in blockchain and cryptocurrencies as its leads – Dan Boneh and David Mazieres – and will bring scientists and industry professionals together to help develop best practices for the crypto and blockchain fields.
Boneh said: “Blockchains will become increasingly critical to doing business globally. Stanford should be at the forefront of efforts to improve, apply and understand the many ripple effects of this technology.
“This is a fascinating area of research with deep scientific questions. Once you get into the details you quickly realise that this area will generate many PhD theses across all of computer science and beyond.”
Topics the five-year research program wants to tackle include how to scale the technology to billions of users, ensuring that data is trustworthy and accurate while keeping details private, and maintaining high levels of security while reducing the amount of computing resources used.
“Blockchain massively lowers the barriers to creating tradeable, digital assets,” added Mazieres. “It allows individuals who don’t know each other, or even trust one another, to make irreversible transactions in a whole variety of fields in a safe and secure way.”