VeChain Foundation Announces Partnership With the Royal Melbourne Institute of Technology (RMIT) Blockchain Innovation Hub, Accelerating Blockchain Governance Research

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SINGAPORE, Dec. 22, 2020 /PRNewswire=KYODO JBN/ --

Since its initial launch in January 2018 (https://c212.net/c/link/?t=0&l=en&o=3018919-1&h=3617845188&u=https%3A%2F%2Fvechainofficial.medium.com%2Finitiating-veresearch-a-global-research-grant-program-focused-on-innovative-blockchain-1af41dbdc63a&a=Since+its+initial+launch+in+January+2018 ), VeChain's global

innovative research grant program, VeResearch, has been one of the major driving

forces behind our blockchain-related technological progress, cooperating and

co-developing solutions with leading global research bodies for the betterment of

VeChainThor and the advancement of the entire blockchain industry.

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With the goal of integrating blockchain into all possible frontiers new ways

for the world to do business, the VeChain Foundation is proud to announce that

the Royal Melbourne Institute of Technology (RMIT) Blockchain Innovation Hub

(https://rmitblockchain.io/home ) has joined the VeResearch program to address

issues such as governance and other technological hurdles facing the industry.

VeChain & RMIT Blockchain Innovation Hub: A World Class Collaboration

The RMIT Blockchain Innovation Hub is the world's first research center focused

on the social science of blockchain and unites a world-class team (https://c212.net/c/link/?t=0&l=en&o=3018919-1&h=4176322998&u=https%3A%2F%2Frmitblockchain.io%2Fteam&a=world-class+team ) of economists and social science researchers. The body consists of

many professional researchers who focus on the institutional possibilities and

challenges on blockchain applications across fields such as compliance,

economics and healthcare.

Working closely with the head of VeResearch, Chief Scientist Dr. Peter Zhou and

VeChain's Senior Blockchain Researcher Dr. Zhijie Ren, the group intends to

enhance current studies on blockchain governance models and accelerate the

standardization of blockchain governance consensus.

The collaborative work will initially focus on developing a framework for

evaluating and comparing governance systems of public blockchains.

Specifically, the team will develop a theoretical understanding of the

trade-offs and dimensions of decentralization for public blockchains. Based on

the framework, the next step of the study will be to design governance models

to better incentivize various stakeholders to participate in the governance

process and ultimately use the research to promote mass adoption of blockchain.

Blockchain Governance Consensus: Key For Unlocking Enterprise Mass Adoption

As a long-term research goal, the joint research team will investigate governance

models that are suitable for enterprises, with respect to the future regulatory

environment and readiness of individual enterprises. This collaboration further

cements VeChain's role as a harbinger of public blockchain standards and set forth

the building for the mass adoption of blockchain among governments, enterprises and

educational research facilities.

Dr. Peter Zhou stressed that, "Blockchain governance plays a vital role in

growing a healthy and sustainable blockchain ecosystem. This research

collaboration is going to answer some of the most important and fundamental

questions about blockchain governance and will contribute to the long-term

growth of VeChain's ecosystem and to achieving our goal of mass adoption."

Dr Chris Berg, Co-Director of the RMIT Blockchain Innovation Hub, commented

that, "We are excited to be working with VeChain to explore and research

governance models for public blockchains. With this important research we are

hoping to build towards a general theory of blockchain governance contributing

to VeChain's ecosystem and providing benefit to the broader blockchain

community".

VeResearch continues on its mission to build a global grant program that

engages in research with academic communities (https://c212.net/c/link/?t=0&l=en&o=3018919-1&h=1982452497&u=https%3A%2F%2Fmedium.com%2F%40vechainofficial%2Finitiating-veresearch-a-global-research-grant-program-focused-on-innovative-blockchain-1af41dbdc63a&a=engages+in+research+with+academic+communities )

and contributes to framing high-level practical responses to industrial

challenges. The program has worked closely with multiple high-profile academic

bodies such as Michigan State University, University of Oxford, Dartmouth

College, Tsinghua University, and South China Normal University across research

areas encompassing blockchain consensus, token economics, cryptocurrency market

predictions, smart contract security, blockchain-based ecosystem design and more.  

About RMIT Blockchain Innovation Hub

RMIT University, based in Melbourne, Australia, is known for applied

leading-edge research that engages with business and technology. The RMIT

Blockchain Innovation Hub is the world's first research centre on the social

science of blockchain

The RMIT Blockchain Innovation Hub is an interdisciplinary team of researchers

in economics, political-economy, organizational theory, law, sociology, politics and

communications. The Hub seeks to develop a deeper understanding of crypto-economics,

business strategy and adaptation to blockchain technologies, maps the blockchain

economy, and identifies the public policy challenges that will hold back or accelerate

this economic revolution.

Website: www.rmitblockchain.io

About VeChain Foundation

Launched in 2015, the VeChain Foundation has worked tirelessly to build the

bridges between blockchain technology and the real world. VeChainThor's

evolution continues to gather pace, transitioning from consortium network to

best-in-class public blockchain platform using Proof of Authority consensus,

boasting advanced technical features, governance structure and economic model.

As the ecosystem enabler, VeChain's mission is to empower builders by

developing tools that systematically eliminate adoption hurdles. Through the

development of a suite of innovative tools such as Multi-task transaction and

fee delegation.VeChain has been able to substantially lower the barriers to

entry for businesses and developers alike.

VeChainThor has already been applied across a diverse array of use cases

including Walmart China, Bayer China, BMW Group, BYD Auto, H&M Group, Shanghai

Gas, LVMH, D.I.G, ASI Group and more.

Website: www.vechain.org

SOURCE  VeChain

CONTACT: Michael Fairbairn, michael.fairbairn@rmit.edu.au