US Government Funds Distributed Ledger Platform Development


US government funds distributed ledger platform development that is being carried out by researchers at the University of California-San Diego. Subhashini Sivagnanam has won $818,433 from the National Science Foundation (NSF) to develop the Open Science Chain (OSC).

21 August, AtoZ Markets The US government appears to offer help for funding a distributed ledger platform that is now being developed by researchers at the University of California-San Diego.

US Government Funds Distributed Ledger Platform Development

A researcher and software architect with the Data Enabled Scientific Computing division at the San Diego Supercomputing Center, Subhashini Sivagnanam, has won $818,433 from the National Science Foundation (NSF) to develop the Open Science Chain (OSC). The latter is a proposed distributed ledger which aims to help researchers to efficiently access and verify data gathered via scientific experiments. 

The NSF is a scientific organization that acts as a key conduit for research initiatives in the US to obtain federal resources. The government organization has provided funds to a number of Blockchain projects in the past. These include some projects that are focused on different aspects of cryptocurrency incentive methods and Blockchain technology use cases. 

What is the project about?

Some of the public records show that the project involves “a web-based cyberinfrastructure platform built using distributed ledger technologies that allow researchers to provide metadata and verification information about their scientific datasets and update this information as the datasets change and evolve over time in an auditable manner.”

Speaking differently, the network would constitute a catalog of their work. It would expand as more information is developed and added. Researchers will be presented with the genuine data that they are examining. 

According to the official award letter, the grant will commence on September 1, 2018. It will carry through until August 21, 2021. 

Earlier this July, the Consumer Financial Protection Bureau has announced that it is planning to launch a regulatory sandbox that aims to encourage Blockchain and other financial technology innovations. According to the head of the CFPB, Mick Mulvaney, the organization intends to assist companies that work on developing these new technologies.

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