Algorand Foundation partners with Monash University to explore and develop blockchain tech

  • The Algorand Foundation plans to support Monash University in the development of blockchain applications through its Grant Program.
  • Two of the institutions’ projects will receive funding, with one focused on a system for credentials and the other a pharmaceutical supply chain.

The Algorand Foundation has partnered with Monash University Australia, as part of its ongoing mission to support blockchain education and participation. The foundation will support two blockchain applications at the learning institution, namely: a blockchain-as-a-service application for academic credentialing and prototype development for blockchain as a pharmaceutical supply chain provider. Both projects will be supported by the foundation’s multi-year 250 million Algo token Grant Program.

Joseph Liu, Professor, and Director of the Monash Blockchain Technology Centre explained the two applications further. The first project will explore and develop a blockchain-powered system for credible issuance and verification of university credentials. This application, he adds, will “provide strong support to secure the education sector.”

On the other hand, the second project seeks to provide value to the pharmaceutical industry. Liu says it will explore the likelihood of blockchain being used “to provide a robust, transparent, and accountable pharmaceutical supply chain.” Such a system would have several advantages according to Liu. These include promoting cost-efficiency, improving the audit process, and increasing community confidence in pharmaceutical logistics.

According to Jason Lee, Chief Operating Officer (COO) at Algorand Foundation, the two are working jointly since Monash University presents projects ideal for wide-ranging blockchain tech use cases.

He goes on to add:

This grant award helps support Monash University as they develop two unique blockchain use cases, trusted credential issuance, and verification system, and a robust, transparent, and accountable pharmaceutical supply chain, showcasing the value of blockchain technology. We are excited about the partnership with Monash University given their exceptional record in blockchain innovation.

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Algorand Foundation to help develop blockchain applications

Monash Blockchain Technology Centre was established in 2019 under the Faculty of Information Technology. It brings together knowledge and skills from top world experts across the University, to explore and develop blockchain technology. The centre hopes to use the outcomes of such action to create use cases with meaningful impact in the industrial and societal sectors.

Even more, the centre comes up with new technologies applicable to blockchain systems. To promote blockchain education, the centre introduced relevant blockchain topics in the curriculums of different faculties. Finally, it provides targeted (blockchain-related) training across industrial sectors.

The Algorand Foundation continues to stay true to its goal of developing a truly global blockchain ecosystem. Other than the recent partnership with Monash University, the foundation’s Grant and Development Award has funded other academic-based education and research projects. One notable project is the Algorand Fintech Innovation Hub at the University of Cape Town.

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Related: Algorand secures $500M funding from Borderless Capital to support “next-gen” DeFi and NFT projects

Persons or entities interested in acquiring support for their blockchain projects are encouraged to apply through the Algorand Foundation website.

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