The Edinburgh Napier University has launched the first advanced blockchain identity research laboratory in the Merchiston Campus. The university is located in the capital of Scotland, Edinburgh. The laboratory has been formed in partnership with Blockpass IDN, an identity application firm from Hong Kong-based on blockchain and the Scottish University. The partnership involves an investment of £600,000 contributed by both the partners.
Also known as the Blockpass Identity Lab, this laboratory will be first of its kind facility based on blockchain research and will explore options to improve the data security ways online with the help of blockchain technology. The announcement about the partnership was made by Blockpass recently on its Twitter handle.
Through the funding, the partnership will support 5 Ph.D. students, research staff and built a virtualized blockchain-based environment. The facility will have the job to prioritize the key challenges that mostly focus on building new infrastructures for identification while respecting the rights, privacy, and consent of online users.
According to Kate Forbes, the Digital Economy Minister of Scotland, the research laboratory work is exciting and will explore the possibilities how blockchain solutions can protect the individual data from the reach of online hackers and scammers. The work will take forward the tradition of excellence and innovation as depicted by John Napier, said Bitcoin Exchange Guide. Napier is the Scottish mathematician on whose name the University at Edinburgh is known.
The University first announced the launch of this research laboratory in April this year. The decision was made owing to the numerous data breaches as well as similar scandals that have pointed out the risks a centralized platform pose to storing data, said News BTC.
The new facility will help to reduce such risks after a thorough research on blockchain and its capabilities. Even though most of the breaches and scams have affected the US, even the European companies are struggling to keep their data safe from the hackers. Reports indicate that around 17 percent population in the continent has been framed in these identity theft operations.
The post Edinburgh Napier University Launches Research And Laboratory Blockchain Technology Protecting Personal Information Online appeared first on OWLT Market.
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