Monash University is set to launch a focused research facility for blockchain technology to link researchers and industry with the aim of advancing the already expanding field.
The Monash Blockchain Technology Centre (MBTC) will be unveiled by the Dean of the Faculty of Information Technology (IT), Professor Jon Whittle, and MBTC Director and blockchain expert Associate Professor Joseph Liu.
From fintech to supply chain management, the MBTC will develop secure foundations for this technology, and demonstrate its usability and practical outcomes. The centre will also impact the community through research involving a variety of industries and societal sectors, the organisation says.
The global blockchain market is forecast to grow to an estimated US$60 billion by 2024, and Australia has the capacity to play a leading role, according to Professor Whittle.
“Monash is the birthplace of big ideas in computing and IT. Through the MBTC, we can better educate people on how blockchain technology can be used to solve real-world challenges. The visionary research by Joseph and his team will bring us closer to realising its true potential,” says Whittle.
Working with various faculties and international partners in the Asia-Pacific region, including Shanghai Jiao Tong University and CollinStar Capital, will also elevate the centres work, according to the researchers.
“We created the centre to be a platform for gathering like-minded organisations and faculties across the University, such as law, medicine, business and engineering. Cross-organisational and interdisciplinary collaborations will help us apply our innovations in a wider range of contexts,” Associate Professor Liu says.
Blockchain is currently being used in areas such as digital health services, supply chain management, and the delivery of energy across smart grids. Through training and targeted micro-credentials, the MBTC will empower those leading the change to enhance the efficiency, security and performance of blockchain technology, according to a statement.