What’s Going On?
New York is to launch two blockchain initiatives in the city to help encourage development in existing and new crypto companies.
Why Does It Matter?
New York City Economic Development Corporation (NYCEDC) President and CEO James Patchett announced plans for the two new projects at CoinDesk’s annual blockchain conference, Consensus 2018. NYCEDC said it will open the NYC Blockchain Resource Centre and launch a high-profile blockchain competition for New York.
What Does The Original Big Apple Have Planned?
The new Resource Centre is to serve as a physical hub for the industry, building awareness for blockchain technology through “education, and connecting entrepreneurs to business support, mentorship, advisory services, and a community of peers”.
And to encourage blockchain innovation, NYCEDC will launch a public blockchain competition, which will join the City’s existing NYC BigApps contest. The competition will include a series of workshops to educate those in government about blockchain, said NYCEDC.
“There’s no city in the world that’s better positioned to lead the way in blockchain,” said Patchett. “We’re a global leader in finance, real estate, media, and tech – all industries seeing incredible innovation from this new technology. The City is putting a big focus into blockchain to find out how we can grow the industry and make sure it’s creating great opportunities for New Yorkers.”
“The Global Blockchain Business Council (GBBC) welcomes and supports NYCEDC’s announcement to advance blockchain technology for New Yorkers, particularly, for its most vulnerable citizens,” said Sandra Ro, CEO, Global Blockchain Business Council (GBBC). “Together, we will build bridges, help educate and create real job opportunities for NYC as this technology grows and becomes the next trillion dollar industry.”