Blockchain Research Lab Established By Co-working Space Giant Ucommune

Announcements, Blockchain | May 30, 2018 By:

Chinese co-working space provider Ucommune has announced the establishment of its blockchain research lab, marking its official foray into the blockchain sector.

Ucommune provides startups, small and medium-sized enterprises (SME), and corporate tenants with on-demand, short-term leasing, and customized space solutions. It currently has 100 locations in over 30 cities in the world, aggregating over 1,000 professional business service suppliers across a broad spectrum. It also claims to served over 40,000 individual members and over 3,000 enterprises.

The new blockchain research lab will enable the company’s community members to build their blockchain solutions. The lab will be headed by Ma Zhiyu, founder of blockchain lab Astar. Ucommune CTO Xu Binchao will join Ma on the blockchain development.

Zhiyu said that their foray into blockchain reflects Ucommune’s commitment in providing decentralized and trusted services to their growing and diversifying community member base.

“The new lab will conduct in-depth research on blockchain application for coworking and develop a whitepaper that sets the industry benchmark,” Ma said. “We are also leveraging blockchain for custom-made solutions to better serve our millennials members.”

Ma added that he is interested in the application of blockchain to areas such as healthcare, big data, blockchain sourcing, sport gaming, celebrity IP and copyright training.

Xu said the new blockchain lab aims to enable and empower a trust-based virtual network that will help businesses of varied sizes to collaborate, source and trade efficiently and transparently.

“Drawing on our technological know-how and expertise, we are on track to connect enterprises across the entire value chain to form a smart contract platform that all member companies can build their sub-chains upon,” Xu said.

The announcement came after Mao Daqing, founder and CEO of Ucommune, said that he would consider an initial public offering (IPO) for the firm in two or three years. “I want Ucommune to be independent, so IPO is certainly an option,” he said. “But I am not against the idea of being acquired.”