Hub of excellence

Major players from the technology ecosystem in Luxembourg have teamed up to develop a blockchain hub of expertise in the Grand Duchy.

Source : Merkur
Publication date : 02/04/2020

 

Five major actors from the technology ecosystem have launched a cross-industry collaboration to drive the adoption of blockchain and other distributed ledger technologies (DLTs): Infrachain, LëtzBlock, LHoFT, LIST and the University of Luxembourg’s Interdisciplinary Centre for Security, Reliability and Trust (SnT). The goal of the consortium is to set up a landmark EU hub for blockchain research, education and industry projects, as well as develop industry capabilities to aid the deployment of the latest blockchain and distributed ledger technologies (DLT).

The World Economic Forum predicts that 10 percent of the global GDP will be stored on blockchain by 2027 and the World Trade Organization estimates that, by 2030, blockchain deployment could add USD 3 trillion to international trade. In line with Digital Luxembourg’s strategy, this blockchain hub is key to growing Luxembourg’s blockchain ecosystem, as well as its digital economy. 

Xavier Bettel, Prime Minister of Luxembourg and Minister for Digitalisation noted, ‘I welcome the initiative launched by Infrachain, LëtzBlock, LHoFT, LIST and SnT. Technologies such as blockchain have the potential to revolutionise for the better large parts of our economy.’

 

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