Launching of a New Blockchain Center by the NY Economic Corporation

Launching of a New Blockchain Center by the NY Economic Corporation

According to Bloomberg’s report, a Blockchain Center has been opened by The New York City Economic Development Corp (EDC). Its aim is to test new technologies’ applications in the sphere of cryptographic currencies and blockchain. The beginning of its functioning is planned for the next fall. The project is funded by the Global Blockchain Business Council (trade organization) and the Future\Perfect Ventures (venture fund).

Similar blockchain-related center, called Bitcoin Center NYC, was founded in 2013 by Nick Spanos. It enjoys significant popularity and organizes events every month.

The EDC, which has a status of a non-profit organization, voluntarily supporting economic development of the city, has allocated $100,000 for elaboration of the new Center. The vast majority of this sum are membership dues and partners’ investments. In prospect the funding will continue. The center has already collaborated with IBM (International Business Machines Corporation) and Microsoft Corp. The inventors desire to attract other considerable entrepreneurs.

The new facility is located in the Flatiron District (in the Silicon Alley area). The programs, provided by it, are suitable for specialists in the crypto field and ordinary folks. The lectures’ topics concern software developing, crypto startups, and other related issues.

The building is also tenanted by Quovo Inc. (data aggregator), Palm Drive Capital LLC (startup investor) and Glamsquad Inc. (beauty services company).

Ana Arino, who head a strategy office in the EDC, states that they are willing to develop and contribute in the nascent technology. She has no idea what the future has in store for them, but their intentions are significant.

The industry now experiences a tough period and is still affected by the tumbling of the crypto prices for approximately 90 percent, which happened last year. Many startups’ activity was terminated; the technology’s deployment was suspended

Currently, there is a process of recovery and the establishment of the new center is a proof that New York isn’t frightened by the last year collapse and finds way to support digital technologies. The new center is an example of BUIDL implementation.

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