Blockchain Technology Development Center Will Be Implemented In New York

The New York Economic Development Corporation (NYCEDC) announced the launch of several initiatives that will utilize blockchain technology applications in the city at the 4th annual blockchain technology summit, Consensus 2018, May 14-16.

In this regard, the president and CEO of NYCEDC, James Patchett, said that the Blockchain Center will operate as a physical space for industry and will aim to educate and connect entrepreneurs interested in blockchain technology, through tutoring, business support, and advice for new ventures in DLT.

As for the public competition for blockchain, called The BigApps Blockchain, Patchett explained that the goal is to develop applications, from the blockchain, that helps improve public sector services and processes. He added that he aspires to hold the competition at the end of 2018 and that on May 14 a bidding process has already been opened to choose the company that will be in charge of its organization.

Within the framework of Consensus 2018, Blockchain Week in New York City will showcase employment opportunities in the city through a first free job fair in the blockchain, open to the public, with the participation of companies such as IBM, Accenture, Deloitte, ConsenSys, Ripple, KPMG, and Ledger.

Blockchain technology boom in New York

All the initiatives announced by NYCEDC were supported by many of the participants in Consensus 2018, representing companies and organizations such as the Economic Development Commission, the New York State Assembly, the Technology Committee, OGroup, and Tech: NYC, among others.

They all agreed on the significance of the fact and the advantages that these projects will bring to New York City, making it a great focus of innovation and development for the emerging ecosystem of blockchain technology.

In this regard, new cases of use and applications of technology in large New York business sectors, such as finance, media, insurance, healthcare and real estate, are highlighted.

All this growth of the blockchain technology among New Yorkers may have been the cause of the recent introduction by state legislators of four bills that seek to include this technology within the legal framework, recognizing the possibilities its use brings.

Jackson Bey

Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.

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