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 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 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.
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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:Â 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.
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