The Concordium Foundation has collaborated with Aarhus University (Department of Computer Science) of Denmark to establish the Concordium Blockchain Research Center for creating compliance-ready Blockchains. The key mission of this alliance is to provide the foundational research to support the development of energy-efficient, scalable and secure blockchains. The initial find grant for this project is US$ 7.5 million USD for a period of five years. Further, the center has hired four Ph.D. students and four postdoctoral researchers for 2019 in addition to its seven principal investigators.
The objective of the Concordium Blockchain Research Center is to expand on decades’ worth of research to create new blockchain technologies. It will focus on exclusive areas such as consensus protocol efficiency, sharding, and state-flattening along with new cryptographic techniques supporting privacy-preserving identification, KYC and AML, better zero-knowledge techniques, and formal verification of smart contracts.
Professor Jesper Buus Nielsen, leader of the Concordium Blockchain Research Center stated,
“The foundation of the blockchain revolution has so far largely been built on sand. The next generation of blockchain will have to be built on science to ensure a solid foundation of the space.”
On this occasion, Anders Samuelsen, Denmark’s Minister of Foreign Affairs said,
“With an investment of this scale in the world-class computer science team at Aarhus University, Concordium brings together technological development with commercial opportunities to the future benefit of society. It confirms the attractiveness of Denmark as a premier destination for technology development.”
The Concordium Blockchain Research Centre started its operations on 1 February 2019. It is located at Department of Computer Science at Aarhus University and will research into blockchain technology, with focus on security, transparency and general usability.
Founded in 2018, the Concordium Foundation is a Swiss non-profit with the express mission of building and promoting the Concordium blockchain network and its surrounding ecosystem.
Did you like the news you just read? Please leave a feedback to help us serve you better