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The blockchain is slated to be the future of technology, irrespective of the industry segment. As more industries continue to explore the distributed ledger technology for their operations, the educational institutions are also preparing themselves for the said technological shift. The renowned Imperial College London has taken a step in that direction by starting the Digital Asset Research Lab.

The Imperial College’s Digital Asset Research Lab is set up in collaboration with Blockchain, the Bitcoin wallet and block explorer service provider, and the developer of distributed ledger applications. Activities of the newly established lab are expected to receive funding through the existing 3-year partnership between Blockchain and Imperial’s Center for Cryptocurrency Research and Engineering (IC3RE).

“As digital assets mature and we see increased adoption, the time has come to investigate the challenges surrounding this nascent but transformative technology. Blockchain is the perfect partner to help us realize that ambition,” said the Director of IC3RE, William Knottenbelt.

In its blog post, Blockchain states that its CEO Peter Smith will be closely involved with the project as a member of the lab’s Steering Committee. The committee will be responsible for deciding the areas of research and prototyping. The committee has a bi-yearly process for review and approval of current and future projects.

The new Digital Asset Research Lab will allow the graduate students of Imperial College to get a better understanding and working knowledge of blockchain technology. By involving themselves in research and development, they will be more than prepared to handle the demanding requirement for blockchain-based solutions across a variety of industries.

The financial and banking industry continues to be one of the leading segments to adopt blockchain technology. The cost-effectiveness, efficiency and the possibility of automation offered by Bitcoin’s underlying technology make it an attractive option for the fintech segment.

In the coming years, thousands of job positions are expected to open up in the blockchain space across industries. It makes students with sufficient domain experience an ideal fit.

Ref: Finance Magnates | Blockchain | Image: Imperial College