CollinStar Capital to set up joint research laboratory with Monash University and Hong Kong Polytechnic University
CollinStar Capital Press Release
Melbourne, VIC — 3 October 2017 18:50 — CollinStar Capital, Australia’s leading blockchain technology investment firm, has signed a multi-million dollar agreement with Monash University and Hong Kong Polytechnic University to establish a joint-lab to advance blockchain and cryptocurrency technology. The strategic partnership will see a joint research and development lab open on Monash University’s Clayton campus and a node-based campus established in Hong Kong Polytechnic University.
The research lab will primarily be involved in further developing the capabilities of Hcash, the first distributed ledger cryptocurrency capable of supporting both blockchain and blockless-based systems. At current, existing cryptocurrencies can only perform transactions with other cryptocurrencies that run on the same system, presenting constraints for cross-platform transactions. Hcash’s breakthrough technology will become a connecting point for all existing blockchain systems.
Mr. Jon Whittle, the Dean of Monash University’s faculty of information and technology expressed that the joint research and development lab will staff a team of Ph.D students and research fellows who will be developing new cryptographic algorithms to be deployed in Hcash. He was excited about this collaboration between the industry and the university and looks forward to supporting and improving Hcash’s technology. This will be a grand opportunity to groom promising young talents from Monash University for the workforce and engage in knowledge-sharing with CollinStar Capital who boasts impressive experiences as a pioneer in the blockchain industry.
Professor Qin Lu, the deputy dean at the department of computing at the Hong Kong Polytechnic University spoke of the rising significance of blockchain technology in the field of financial services. As demand for streamlined and secured transactions increase, blockchain technology will play an increasingly important role in building the new infrastructure capable of supporting such capabilities. She then assures that the computing department at the Hong Kong Polytechnic University will be fully dedicated to the joint effort to make the internet a safer, simpler and transparent place for business and financial services.
Mr. Jacob Cheng, the managing director at CollinStar came forth to speak of his experiences as a frontrunner in the blockchain industry. CollinStar Capital, who is primarily focused on performing blockchain-related asset management services, had always placed heavy emphasis on blockchain technology’s research and development. The foundation of which blockchain technology sits on is cryptography, and that is why CollinStar Capital had approached top universities such as Monash University and Hong Kong Polytechnic University. We will also be working with other top universities such as Wuhan University and Shanghai Jiaotong University to deliver state-of-the-art blockchain technology that will cement Hcash’s place as one of the world’s most versatile and secure distributed ledger cryptocurrency.
Dr. Joseph Liu, who also works as a senior lecturer at Monash University’s faculty of Information Technology, will be heading the research at the new joint-lab. As a pioneering academic in the field of blockchain and cryptocurrency, Dr. Liu was particularly interested in how cryptocurrencies will fair against technology of the future. Specifically, Dr. Liu believes that Hcash’s unique advantage over many of the cryptocurrencies currently available on the market was its quantum-resistant (resistance to attacks or hacks by quantum computers) capability. In that regard, Hcash is ‘future-proof’ as it will be able to guard against quantum computers which will become increasingly popular in the future.
Dr. Allen Au, an assistant professor at the department of computing at the Hong Kong Polytechnic University who was a guest at the event, also spoke highly of Hcash’s zero-knowledge proof technology. Through the use of cryptography, zero-knowledge proof allows for complete anonymity when verifying transactions. This will help to streamline transaction processes while still maintaining privacy for the two transacting parties.
Following news from the Australian government who recently declared its support for blockchain technology and will be allocating funds to the building of blockchain infrastructure within Australia’s financial and political system, the team at CollinStar Capital had never been more confident that the industry will be here to stay for the long-run.
As the pioneers who served as the lead manager to Hcash, Australia’s first public ICO project, CollinStar will be sure to leverage Australia’s favourable technological environment to continue to grow and promote the adoption of blockchain technology. The team at CollinStar Capital truly believe that blockchain technology will be the answer to a more efficient and transparent society; as such, CollinStar Capital is committed in developing the blockchain technology through continued research and development. As true supporters of the blockchain era, we look forward to providing more innovative solutions that will promote economic and financial progress for everyone.