The Austrian government supports research of the blockchain

The Austrian government supports new initiative to study the blockchain, is aimed at the study of the use of technology in the business environment. New research Institute cryptoeconomy (Research Institute for Cryptoeconomy) will be located at the University of Vienna. On December 5 at the event in a new research unit has gathered more than 500 people, including the Austrian Minister of science, research and economy Marer Harald (Harald Mahrer).

Marer told attendees:

«We combine the experience of the entire community, making the needs of our entrepreneurs can be placed on the agenda. In Europe, Austria has played a leading role in the field of blockchain – we have proposed an ambitious technology development map technology. Now we need to make sure that the following steps will be taken, and create sandboxes to support real business applications. Otherwise, the competitiveness of our business sector will be called into question».

In a statement, the Minister said that the government will support the research projects of the technology of the blockchain with the help of a research Fund in amount of 8 million Euro initiative, which also will invest in the study of various types of digital services.

The public sector supports the interests of private companies of Austria including Wien Energie, one of the largest suppliers of energy. The government has indicated that it is moving towards the adoption of regulatory reforms that will allow the use of the blockchain, including in the energy sector.

«The blockchain offers huge opportunities for new business ideas,» said Marar. «Now it is important to explore these possibilities in the regulatory sandbox».

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