University of Glasgow and VB Hyperledger open blockchain research laboratory – Bits Media

The University of Glasgow has teamed up with Chinese tech firm Victory Bench Hyperledger to open the Moshan Blockchain Lab to explore the possibilities of blockchain..

As stated on the University of Glasgow website, over the next three years, university researchers will study Blockchain's potential for secure storage, verification and exchange of information. Together with VB Hyperledger specialists, they will develop new algorithms and explore methods for improving transaction scalability.

Particular attention will be paid to blockchain-based solutions, which can be used in the banking industry and healthcare system, where confidentiality and rapid exchange of information is essential. Researchers intend to develop a system, which, using blockchain, will help speed up and optimize access to data and its verification.

The University of Glasgow is also going to conduct experiments to create new protocols, using the Proof of Work consensus mechanism (PoW), for mobile phones. This could reduce the carbon footprint of Bitcoin mining, reducing the negative impact on the environment. Dr. Lei Zhang will lead the research at the Moshan Blockchain Lab (Lei Zhang) from the James Watt School of Engineering, University of Glasgow.

“I am very pleased with the opening of the research laboratory. Blockchain has great potential, which is not fully implemented. Collaborating with VB Hyperledger, we will try to solve the problems of this developing technology and expand the possibilities of its use. We have already started discussing this with the university’s partners in the field of computer science., education, health and finance", - said Zhang.

Chairman of VB Hyperledger Wang Bo (Wang Bo) said, that the laboratory will unite talented scientists and specialists from China and the UK. Their research and developments will contribute to the use of blockchain in such industries, how to calculate, finance and communications. Besides, Moshan Blockchain Lab will study the possibility of interaction of 5G technology with blockchain to reduce energy consumption. The Scotland 5G Center has expressed its readiness to take part in this initiative.

This is not the first time the University of Glasgow has shown interest in blockchain.. Last year, the Scottish University's Environmental Research Center (SUERC) at the University of Glasgow began to use the Everledger blockchain to track the supply chain of Scotch whiskey.