US Government Grants $800K For Blockchain-Related Research – Developing The Open Science Chain (OSC)
The U.S. government decided to help fund a distributed ledger platform that’s being developed by researchers at the University of California-San Diego.
Subhashini Sivagnanam is a researcher and software architect with the Data Enabled Scientific Computing division at the San Diego Supercomputing Center.
Developing the Open Science Chain
The man won $818,433 from the National Science Foundation (NSF) to develop the Open Science Chain (OSC) which is a proposed distributed ledger that plans to support researchers to efficiently access and verify data collected via scientific experiments, says the NSF’s official website.
NSF is a long-standing scientific organization which is a crucial conduit for various research initiatives in the U.S. which are tapping federal resources.
The government organization managed to fund some blockchain projects in previous years, and these include the ones that are focused on different aspects of crypto incentive mechanisms and blockchain technology use cases.
According to the public records that are available, this project entails “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 in an auditable manner.”
In other words, the network will be a living and digital catalog of their work, growing as more data is developed and added to it.
This way, researchers will be able to better trust the data that they are examining, says the abstract.
The grant is set to begin on September 1, and it will carry through until August 31, 2021.
More good news for the U.S. investors
A Swedish company recently made its Bitcoin exchange-traded note ETN product available in the U.S. via USD.
The product will serve as a viable alternative to the exchange-traded fund ETF products that have been denied a few times by the SEC lately.
The notes, named Bitcoin Tracker One, are issued by XBT Provider AB which is a Stockholm-based subsidiary of Coinshares (UK) Limited.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.