The Highest Academy for Science in China Launches Blockchain Laboratory

China's Federal Science Institution,  the Chinese Academy of Sciences, is participating in a new scrutiny struggle around blockchain technology to boost its economy.

China's giant academy for science revealed that it had started a fresh "Big Data and Blockchain Laboratory" during the 15 June seminar, as per People's Daily, a media platform that is owned by the state.

The blockchain laboratory that is being launched working together with Tai Cloud Corp, a Beijing-based blockchain startup, will mostly concentrate on the connection existing between mathematics and blockchain technology.

Is There any Positive Hope in this Launch?

Xiaoshan Gao, Deputy director Center for Mathematics and Interdisciplinary Sciences in Chinese Academy of Sciences, strongly believes that the mathematical methods will largely contribute a positive change and play an important key role in various important core issues surrounding blockchain technology in the country.

The newly launched laboratory supported blockchain technology during the yearly academic conference that was hosted by Chinese Academy of Sciences in May, is so far the latest move by the academy in the blockchain technology sphere.

The academy for science previously revealed that it was planning to develop a mega platform that will support private,  public and consortium blockchains all occurring at the same moment by 2018.