New York City makes a bold move in the middle of the bear market after the NYC Economic Development Corp. opened a new blockchain center which is 4,000 square-feet big according to Bloomberg crypto news reports.
The chief strategy officer at EDC Ana Arino says:
“We are playing the long game. It’s a nascent technology, so there’s bound to be uncertainty around this evolution from year to year. While we don’t know what the future holds, we want to make sure we have a seat at the table shaping it.’’
The new massive Blockchain Center is located in the Flatiron district in downtown Manhattan where multiple crypto and tech startups have their headquarters including the New York’s silicon alley tech hub. The center will provide coding classes and other ways of passing knowledge on the importance of blockchain and distributed ledger technology.
New York City provided a $100,000 investment but other companies invested as well such as IBM and Microsoft.
According to MIT technology reviews, blockchain is supposed to become mainstream in 2019 so much that it will become ‘’boring.’’ Over the years many companies started exploring the benefits of the blockchain system such as Walmart and Carrefour in order to provide better tracking of the products and improve food safety.
Becoming mainstream isn’t surprising at all since even the Rockefeller family’s venture-capital company announced that it will be investing in blockchain startups. The family is one of the richest families in the world and their decisions influence many investors and companies. They are not interested in making short-term profits, therefore, they will focus on using the blockchain technology to make long-term ones.
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