Pennsylvania State University (Penn State) Joins GoChain Network as a Signing Node
The Center for Supply Chain Research (CSCR) at the Penn State Smeal College of Business is now operating a node in support of the GoChain public blockchain network
SAN FRANCISCO/STATE COLLEGE, PA, OCTOBER 1st, 2020 — The Pennsylvania State University (Penn State or PSU) and GoChain, a leader in enterprise and government blockchain solutions, today announced the signing of a Node Operating Agreement whereas the Center for Supply Chain Research® (CSCR®) at the Penn State Smeal College of Business is now operating a signing node in support of the GoChain blockchain network.
As a signing node, Penn State will be one of up to 50 enterprises and organizations to run specialized servers that facilitate the GoChain network’s Proof of Reputation (PoR) consensus algorithm and validate the blocks of transactions produced on the blockchain network. The Penn State blockchain signing node is the second academic institution to join GoChain’s Proof of Reputation network, joining the University of Nicosia in Cyprus.
As part of the new node partnership, GoChain will work closely with the Center for Supply Chain Research, designated faculty and graduate students alongside the Department of Supply Chain and Information Systems in the Penn State Smeal College of Business on collaborative academic research in the use of blockchain technologies in supply chain management globally. The Center Supply Chain Research has shown particular interest in aligning their initiatives to advance blockchain technology in supply chain with GoChain’s Global Acceleration Program for Sustainability (GAPS)-a program for qualified non-certified, small-scale businesses and cooperatives worldwide who are able to receive subsidized access to GoChain’s blockchain technology and GoTrace chain-of-custody system designed for non-certified, small-scale businesses and cooperatives worldwide.
“This new and innovative agreement, as well as the groundbreaking use of blockchain technology, is a huge step forward for the college. The months it has taken to get here will be worth all the efforts and then some.. The idea was to create a DAO (data autonomous organization), where research becomes self-funded into perpetuity. We may have just accomplished that. Essentially it is a unique collaborative research agreement and we’ll be soliciting research proposal ideas under the banner of this agreement. We will expect the proposers to bring equivalent value to the accepted projects and GoChain will have direct input into the project(s) that are selected. The output will be remarkable in the sense that, as far as I am aware, no other research center has a similar foundation in this space.”
- Steve Tracey, Professor of Practice, SC&IS, Executive Director, Penn State Executive Programs & the Center for Supply Chain Research® — Smeal College of Business
“Penn State is one of the finest universities in the world and its Center for Supply Chain Research at the Smeal College of Business consistently ranks among the best of the best for its renowned supply chain management programs. As GoChain continues to focus on innovative enterprise solutions to include digital transformation, sustainability, and transparent & responsible supply chains, we are truly honored to welcome Penn State as our latest node signer in the GoChain ecosystem. Personally, as a PSU Smeal College alumnus, I am especially thrilled to have the opportunity to work closely with the University to advance leading edge academic research, drive industrial innovation and to leverage technology for social good.”
- Henry Ines, GoChain CEO
GoChain’s Proof of Reputation blockchain network
Hosted by known and “reputable” corporations such as Lenovo (HKSE: 992) (ADR: LNVGY), DISH Network (NASDAQ: DISH), and global nonprofits such as Conservation International, these nodes foster the growth of the network while providing security through their geographic distribution. As a result, Proof of Reputation has several advantages over its predecessor, Proof of Work (PoW), which is used as the consensus algorithm for Bitcoin and Ethereum.
Proof of Reputation networks can scale to more transactions per second with far lower cost and wasted energy. Since all nodes are operated by a diverse set of known, trusted businesses and organizations, there is greater security and less vulnerability to attack by bad actors than centralized ledgers or even distributed blockchains where large ‘mining’ organizations control the majority of the network.
About the Center for Supply Chain Research (CSCR) at the Smeal College of Business
The Center for Supply Chain Research®(CSCR®, part of the internationally ranked Penn State Smeal College of Business, connects researchers and professionals from leading organizations within a community that is shaping the future of the supply chain discipline. Its members include more than 50 sponsors, representing a wide range of global industries and public entities, currently leverage the research, knowledge, talent, and networking potential of a CSCR partnership.
About the Pennsylvania State University (Penn State or PSU)
The Pennsylvania State University, founded in 1855, is the Commonwealth of Pennsylvania’s sole land-grant institution and its largest public university. Across 24 campuses, Penn State’s 100,000 students and 17,000 faculty and more than 692,000 living alumni worldwide know the real measure of success goes beyond the classroom — it’s the positive impact made on communities across the world.
GoChain believes in driving the adoption of impactful technology for the betterment of society and our habitat. GoChain partners with companies in all industries to quickly launch and manage their own scalable, low-cost blockchain solutions, run distributed applications and to deploy smart contracts. At 1,300 transactions per second, GoChain’s network is the fastest, most reliable, web3 based public and private blockchain protocol. GoChain’s Proof of Reputation (PoR) consensus algorithm relies on a decentralized consortium of Fortune 500 companies, NGOs, and nonprofits to validate transactions. GoChain also supports its designated public cryptocurrency, which has the ticker symbol GO. For more information, visit gochain.foundation or follow GoChain on LinkedIn, Twitter, and Facebook.
Originally published at https://gochain.foundation on October 1, 2020.