Feb 9, 2021
RMIT University Joins GoChain Network as a Signing Node
The Blockchain Innovation Hub at RMIT University is now a validating node on the GoChain public blockchain network
RENO, NV/MELBOURNE, VIC — FEB 9, 2021 — Melbourne-based RMIT University is now operating a signing node on the GoChain blockchain network.
As a signing node, RMIT University will be one of up to 50 enterprises and organizations to run specialized servers that facilitate GoChain network’s Proof of Reputation (PoR) consensus algorithm and validate the blocks of transactions produced on the blockchain network. The RMIT University blockchain signing node is the third academic institution to join GoChain’s Proof of Reputation network, joining Penn State University in the United States and the University of Nicosia in Cyprus.
RMIT University is ranked #3 in the world for the study of digital currencies for its “cutting-edge innovation when it comes to combining economic and technological research,” according to the institutional grade cryptocurrency market data provider, Kaiko. RMIT’s Blockchain Innovation Hub (BIH) has become well known for engaging with policymakers and media to explore how blockchain could impact the regulatory and economic environment.
As part of the new node partnership, GoChain will work closely with RMIT University’s Blockchain Innovation Hub, designated associates, researchers and graduate students on collaborative academic research in the use of blockchain technologies in supply chain management globally. The Blockchain Innovation Hub has also shown great interest and dedication to being participatory in governance and will be filling a node position in the GoChain Foundation’s newly announced steering committee.
“We are honored to welcome RMIT University as our latest node signer in the GoChain ecosystem. As an innovative global university focused on technology, enterprise, and design, RMIT’s blockchain degree programs rank as among the best globally and its Blockchain Innovation Hub is the world’s first multi-disciplinary research centre focused on the social science of blockchain technology. We anticipate considerable opportunities for novel academic research and collaboration on pioneering work addressing real-world business and social issues. In addition to joining as a node signer, RMIT will also serve as an inaugural member of the GoChain Foundation’s Steering Committee. These collective developments are impactful and timely as GoChain works to further expand its ecosystem and enhance its governance framework.” — Henry Ines, GoChain CEO
“The RMIT Blockchain Innovation Hub is excited to be working with leading blockchain platform GoChain. It’s an honour to be an operating node to support the GoChain public blockchain network and support GoChain’s novel Proof of Reputation consensus mechanism. Partnering with GoChain provides access for our researchers to further explore governance models and to investigate supply chain use cases. Being a signing node allows RMIT to play an important and active role in a public blockchain network, providing real world experience for IT students and academics. The partnership with GoChain will further enhance the RMIT Blockchain Hubs strong industry links and research outputs.” — Michael Fairbairn, Associate Director of the Blockchain Business Lab — RMIT University
GoChain’s Proof of Reputation blockchain network
Hosted by known and “reputable” corporations or organizations such as Lenovo (HKSE: 992) (ADR: LNVGY) and DISH Network (NASDAQ: DISH), 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. First, Proof of Reputation networks can scale to more transactions per second with far lower cost and wasted energy. Second, because 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 RMIT Blockchain Innovation Hub
RMIT University, based in Melbourne, Australia, is known for applied leading-edge research that engages with business and technology. The RMIT Blockchain Innovation Hub is the world’s first research centre on the social science of blockchain
The RMIT Blockchain Innovation Hub is an interdisciplinary team of researchers in economics, political-economy, organizational theory, law, sociology, politics and communications. The Hub seeks to develop a deeper understanding of crypto-economics, business strategy and adaptation to blockchain technologies, maps the blockchain economy, and identifies the public policy challenges that will hold back or accelerate this economic revolution.
Contact: Michael Fairbairn michael.fairbairn@rmit.edu.au
Website: https://rmitblockchain.io/
About the GoChain Foundation
GoChain believes in driving the adoption of impactful technology for the betterment of society and our habitat. The GoChain Foundation 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.io or follow GoChain on LinkedIn and Twitter.
