Blockchain Firms Form Regional Blockchain Innovation Hub in Austin

Announcements, Blockchain, Group | February 20, 2018 By:

Blockchain firm Wanchain has partnered with various Austin companies to form the Austin Blockchain Collective (ABC). The goal of the ABC is to advocate for the adoption of blockchain innovation at the local level and for the larger global ecosystem.

Built in China and headquartered in Austin, TX, Wanchain’s platform connects and exchanges value between different blockchain ledgers in a distributed way. It uses the latest cryptographic theories to build a non-proprietary cross-chain protocol and a distributed ledger that records both cross-chain and intra-chain transactions. Any blockchain network, whether a public, private, or consortium chain, can integrate with Wanchain to establish connections and perform low-cost, inter-ledger asset transfers.

Wanchain said the ABC was formed to provide blockchain education to the local community while fostering connections across business and consumer-focused applications. It currently has 21 members, including Factom, Kilroy Blockchain and AMSYS Blockchain, among others. The ABC Executive Committee includes Lighthouse Partners Principal Pete Harris, Wanchain President Dustin Byington, Multicoin Capital Managing Partner Tushar Jain, and Tiana Laurence, Managing Partner of Laurence Ventures.

Austin is the 11th-most populous city in the United States and the 4th-most populous city in Texas. The city has been slowly growing its crypto scene. Less than a year ago, there were approximately a dozen blockchain companies in Austin. Today, that number is more than 50 and growing.

“The founding participants of the Austin Blockchain Collective recognize the value of a thriving local blockchain ecosystem,” said Dustin Byington, President of Wanchain and Executive Committee Member of ABC. “Bringing Austin’s blockchain builders and businesses together is a foundational step towards making Austin the global blockchain force we know it can be.”

“Austin has significant blockchain activity,” said Pete Harris, Principal of Lighthouse Partners and Executive Director of ABC. “The next step is to coordinate our efforts into a singular force that makes Austin a blockchain hub of international significance. The collective will increase community engagement with blockchain technology and cryptocurrencies, growing a network of peers who will galvanize Austin’s leadership in the crypto space.”