Blockchain collaborates with Imperial's Centre for Cryptocurrency Research and Engineering (IC3RE) to fund cryptocurrency and DLT research

Imperial will conduct ground-breaking research into blockchain technology and digital assets as part of a new partnership with Blockchain (GB) Ltd, the company behind blockchain.com and blockchain.info.

The three-year partnership between the Centre for Cryptocurrency Research and Engineering (IC3RE) and Blockchain Ltd. will establish a programme of cryptocurrency and Distributed Ledger Technology (DLT) research.  The centre will aim to become a leading international platform for ongoing research and application activity related to cryptocurrency and blockchain technology.

Peter Smith, CEO of Blockchain, will join the centre’s Joint Steering Committee (JSC) to help identify and agree priority areas for research and prototyping.  The Joint Steering Committee will meet twice a year to review, consider and approve potential projects, with an initial focus on smart contracts[1]  and state channels[2], two areas both key in scaling up the technology for mass use.

“Exponential technologies have incredible impacts on our society,” Smith said.  “They reimagine the world in ways that inspire and surprise us.  Each year, from transaction growth, to new users coming online, the bitcoin network, and the blockchain have been doubling in size.  We’re excited to be at the leading edge of research to understand this technology’s impact on the broader world.”

With daily articles detailing the adoption of Distributed Ledger Technologies in everything from revolutionising energy grids to preventing airline fraud the widespread potential applications of the technology for the global economy are clear.  There has even been a recent pilot project by the Department for Work and Pensions (DWP) trialling blockchain for benefits payments.

Since its launch in 2015, IC3RE has run a large number of blockchain-related projects and now plays a leading role advising UK and international governments on blockchain and distributed ledgers.

Director of IC3RE, Professor William Knottenbelt, commented, “As digital assets mature and we see increased adoption, the time has come to investigate the challenges surrounding this nascent but transformative technology.

“Blockchain is the perfect partner to help us realise that ambition – we look forward to working with the team.”