21 July 2016, London - Innovate Finance, the independent membership association serving the global FinTech sector, and the Science and Technology Facilities Council’s Hartree Centre, the high performance computing and data analytics research facility founded by the UK government, today announced research priorities for their joint Blockchain Lab.
At the end of 2015, Innovate Finance and the Hartree Centre announced their collaboration for a Blockchain Lab to leverage the power of Hartree’s high-performance computing (HPC) solutions and data science expertise towards blockchain exploration by Innovate Finance members.
Today the partnership confirms the Lab will use its investment in advanced computing technologies, novel architectures and staff to address some of the challenges associated with blockchain technology such as scalability, energy-efficiency and speed.
In addition, it will work with open standards bodies such as the Hyperledger Project and use Hartree’s infrastructure to simulate blockchain activity at scale.
The Lab is also set to examine the wider uses of blockchain technology in other areas such as Healthcare, IoT and automotive technology.
The Blockchain Lab’s priorities were developed in collaboration with Innovate Finance startup and institutional members, including Applied Blockchain, BTL Group, Credits, Société Générale and Tallysticks, who will continue engaging in the project.
The Innovate Finance / Hartree Centre Blockchain Lab is open to expanding its engagement with Innovate Finance members.
Innovate Finance’s CEO Lawrence Wintermeyer said, “We are delighted that our partnership with the Hartree Centre is set to make significant contributions to industry’s understanding of distributed ledgers, and we will work with the Hartree Centre to ensure a continuous engagement between this formidable research institute and industry thought leaders in the blockchain space.”
David Moss, Advanced Technology Solutions Manager at the Hartree Centre, said: “This partnership allows us to combine the best of both worlds when contributing to one of society’s most exciting technological challenges. The knowledge of Innovate Finance’s membership and the challenges proposed by them, combined with the deep computing expertise and tools at the Hartree Centre make this an ideal advanced research collaboration, complementing the work already done by members of the Blockchain community.
For an overview of the blockchain technology, see Innovate Finance’s simple guide here.
Global Head of Communications
Innovate Finance is an independent membership association that represents the UK's global FinTech community. Founded in 2014 with the backing of the City of London and Canary Wharf Group, Innovate Finance is a not-for-profit that aims to accelerate the country's leading position in the global financial services sector by directly supporting the next era of technology-led financial services innovators, whether they be a young startup or an established industry player.
The goal is to create a single point of access across the sectors to help foster enabling policies, regulation, talent development, business growth opportunities and investment in the UK - and, most importantly, to create a global finance sector that offers services that are more sustainable, more inclusive and better for everyone.
Follow us @innfin, and to see a full list of members, events and benefits, visit www.innovatefinance.com.
About the Hartree Centre
Founded in 2012 with a 37.5 million GBP investment from the UK government, the Hartree Centre was created by the UK’s Science and Technology Facilities Council (STFC) to develop, deploy and demonstrate high-performance computing (HPC) solutions. Part of a center of expertise in computational science and engineering, the Hartree Centre is a research collaboratory in association with IBM, with facilities at the Sci-Tech Daresbury and Harwell Oxford national science and innovation campuses
Using parallel processing to deliver unprecedented computing speeds, HPC can be used to tackle new frontiers of problem-solving, prediction and data analysis. As advanced modelling and simulation combined with Big Data capabilities continue to change the face of science and engineering, its potential for other industries is only just beginning to be revealed. The Hartree Centre’s mission is to bring down the barriers to entry for businesses that may not have even considered using HPC services before.
Significant investment in subsequent years has seen the Hartree Centre also research energy-efficient computing, and data-centric cognitive computing.
Follow @HartreeCentre on Twitter or visit http://www.hartree.stfc.ac.uk/ for more information.