Monash University, the second oldest university in the State of Victoria, Australia, has established a blockchain research center aimed at discovering possible ways of applying the new technology across several fields outside IT, according to a ZDNet report today.
Headed by the Monash University associate professor, Joseph Liu, Monash Blockchain Technology Centre (MBTC) comes as a unit of blockchain internal research lab launched two years ago within the IT faculty.
Blockchain technology is not restricted to IT, Liu said.
This technology can be applied to many disciplines such as digital health, smart energy, supply chain, or fintech. That’s why we want to create a cross interdisciplinary platform at the university level, not just a faculty level.
In this case, MBTC will see different faculties observed in the university, including its international partners in the Asia-Pacific region, such as CollinStar Capital, and Shanghai Jiao Tong University join forces with the IT department to explore the usability of blockchain technology in their respective fields.
Already, the internal research lab was able to develop a blockchain cryptocurrency dubbed Hcash for CollinStar Capital, a fintech company. Coupled with the new center, they will use the learnings from that to apply the technology elsewhere, per the report.
Liu mentioned food provenance as one of the critical areas which the lab will focus on first. “Because Australia is a food exporting country from beef, honey, wine […] to other countries such as China, the customer in China wants to make sure the food is really coming from Australia and it’s not fake,” he said.
The idea is to pull production information relating to the exported foods into the blockchain, as it passes through the farm to suppliers, logistics, and the courier from Melbourne to Shanghai. In this case, the customers in China can be able to track and confirm that the products are coming from the right source.
In September, the University of Gibraltar partnered with the leading blockchain institute, Huobi University, in China, to conduct educational research via blockchain technology.
Featured Image via Lyons Architecture.