Blockchain Initiatives Planned By New York City Economic Development Corporationbr>
The New York City Economic Development Corporation (NYCEDC) has announced that it will be launching two blockchain initiatives in the city in the coming months.
Through annual contracts with the city of New York, NYCEDC is a non-profit organization that serves as the city’s primary entity for promoting and implementing economic development.
Speaking at CoinDesk’s annual Consensus conference, James Patchett, president and CEO of the NYCEDC, said the initiatives include the launch of the NYC Blockchain Resource Center and a public competition for blockchain apps to improve the public sector.
The NYC Blockchain Resource Center will be a physical hub focused on building awareness of blockchain technology. It will promote education on the subject and connect blockchain entrepreneurs to business support, mentorship, and advisory services. The center will also bring together industry stakeholders, government, consumer advocates, and investors to begin a conversation around creating a regulatory environment in the city that will support both consumer safety and innovation.
The blockchain app competition, which is set to begin later this year, will feature a series of workshops aimed at educating those in the government about blockchain technology. It will aim to identify blockchain solutions that can be used to improve public sector services and processes. The competition will also include free educational workshops to teach the public about the technology and source ideas.
“There’s no city in the world that’s better positioned to lead the way in blockchain,” said Patchett. “We’re a global leader in finance, real estate, media, and tech – all industries seeing incredible innovation from this new technology. The city is putting a big focus into blockchain to find out how we can grow the industry and make sure it’s creating great opportunities for New Yorkers.”
New York State Assembly Ron Kim, who has introduced a bill that aims to ease some of the requirements of the bitlicense, said NYCEDC’s support of blockchain technology will go a long way in cementing New York’s position as the financial capital of the 21st century.
“Blockchain applications have the opportunity to revolutionize the way we conduct business and government,” said Kim. “I look forward to continuing partnerships between this burgeoning industry and the public sector as we work to foster new businesses and promote the wellbeing of all New Yorkers.”