University College London explores blockchain opportunities with Hedera Hashgraf
University College London (UCL) has joined the Board of Governors of the Hedera Hashgraph decentralized platform, which implements blockchain at the corporate level.
UCL founder Paolo Tasca, formerly leading cryptocurrency economist at the German Central Bank Deutsche Bundesbank, said UCL was the first academic institution to join the Hedera Hashgraph Board.
Taska explained that the university is interested in joint research on the blockchain, conducting experiments, as well as in the practical application of technology in various industries. The Governing Council of Hedera Hashgraph includes 39 international organizations from various industries, including Boeing, Deutsche Telekom, Google, IBM and Swisscom Blockchain.
Hedera Hashgraph applies a decentralized management model, where each member of the Council manages a node in the Hedera Hashgraph open network and confirms updates in the code base of the Hedera platform.
The UCL research center, consisting of more than 180 employees, will interact with Hedera working groups to study the Hashgraph algorithm and the functionality of state cryptocurrencies, which implies communication with central banks of different countries.
UCL will share its own insights with the Hedera Legal and Regulatory Working Group. To facilitate the implementation of the Hedera blockchain, researchers will work on projects using Hashgraph, and UCL students and partners will be able to participate in blockchain hackathons.
Taska emphasized that in addition to its own initiatives to introduce blockchain in various industries, the center will pay special attention to educational projects and research in the fields of technology, business and economics, as well as the study of the legal aspects of distributed registry technology.
UCL previously partnered with the European Commission and the International Association for the Development of Robust Blockchain-Based Applications (INATBA) to coordinate the work of blockchain solution providers to deal with the effects of the COVID-19 pandemic.
Cryptocurrency market capitalization grew by more than 13 billion per day
Last Friday, May 8, the jerk was demonstrated not only by Bitcoin, but also by the other largest cryptocurrencies.
Over the past 24 hours, market capitalization has grown by more than $ 13 billion to $ 269.884 billion. Bitcoin was able to test values above $ 10,000 the day before, but then retreated and is now trading at $ 9965.
The largest ether altcoins (ETH) and XRP went up to $ 213.7 and $ 0.22, respectively. Bitcoin has been at its highest level since February 2020. Coin growth has become the main driver of higher prices for other digital currencies, observers emphasize.
Capital is returning to the crypto sphere thanks to an improvement in the US stock market, said Vijay Aiyar, head of the Luno Exchange business development department, on CNBC.
He emphasized:
Printing money by the Fed and other central banks around the world inspired investors to believe that the economy would be supported no matter what.
The Fed and the European Central Bank currently provide the largest support to the financial sector. The second factor in the growth of BTC and the cryptosphere as a whole, experts call the approaching halving (reduction in the reward of miners).
Stack co-founder Matthew Dibb predicts that bitcoin will continue to move upward after halving. The cryptocurrency supply will decrease, which will increase the demand for this asset.
In addition, Matthew Dibb notes the great importance of institutional capital in strengthening the cryptocurrency market. Large investors are already investing in bitcoin. For example, Paul Tudor Jones recently admitted that he is investing in BTC, as he considers cryptocurrency a promising and liquid asset.
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