);

New York City lays bet on blockchain.

A second blockchain community was opened in New York City yesterday (January 10, 2019).  This time the New York Economic Development Corporation (NYC EDC) has put funds into the Blockchain Centre project.

We are playing the long game,” says Ana Arino, Chief Strategy Officer at the NYC EDC of their $100,000 bet, “it’s a nascent technology, so there’s bound to be uncertainty around this evolution from year to year.  While we don’t know what the future holds, we want to make sure we have a seat at the table shaping it.”

The NYC EDC is partnering with venture capital fund Future\Perfect Ventures and trade organization, the Global Blockchain Business Council to open the 4,000 square foot 12 storey building in the Flatiron area of Manhattan, also dubbed ‘Silicon Alley’.  The Blockchain Centre will offer a bevvy of blockchain related awareness initiatives, ranging from coding classes, to lunch ‘n learns for software developers to general awareness and adoption courses for the public.

Operators will seek to raise money through both corporate contributions and membership dues.  Microsoft Corp. and International Business Machines Corp. are already on board according to Future\Perfect Ventures managing partner, Jalak Jobanputra.

The Blockchain Centre is not the first blockchain-related incubator in the city.  The self-funded Bitcoin Center NYC, was founded in 2013 by Nick Spanos and is also open to the public year round and hosts monthly events.

NYC-based blockchain startups received over $500MM from venture capital in 2018 according to the NYC EDC, an increase of 500% from the previous year.  As a result, blockchain related job postings were up 80% to 2,200 in the city with several of the largest blockchain employers in the world, IBM, R3 and Coinbase, setting up shop in NYC.

The city is also poised to start testing blockchain use cases later this year.

Related Posts

Leave a Reply