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Klaytn spearheads world’s largest BRC program

03:03, 11 August 2022

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Klaytn
The Kakao backed firm will collaborate with KAIST and NUS universities for the BRC program – Photo: Shutterstock

Klaytn has chosen Korea Advanced Institute of Science and Technology (KAIST) and National University of Singapore (NUS) to host and operate its Blockchain Research Center (BRC) Program.

Chief Klaytn Officer Seo Sangmin (Sam) made the announcement at the Korea Blockchain Week recently.

BRC is a virtual research institute which aims to advance cutting-edge research for blockchain technology, deepen blockchain capabilities, and support industry growth. 

KLAY to US dollar

The news came after Sam announced that Klaytn intends to use non-fungible tokens (NFTs) as the vehicle for mass adoption at the recently held MetaJam in Singapore.

Klaytn has recently joined forces with OpenSea to invest in the Asian NFT ecosystem.

Klaytn, backed by Korean digital giant Kakao which owns the country’s dominant messaging app, will be funding the BRC with US$20m over the next four years. 

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Blockchain Research Center Program 

A global team of researchers will be running operations, led by KAIST assistant professor Dr Kang Min Suk and NUS associate professor Dr Prateek Saxena, while BRC will operate in an open-source manner, where research conducted will be publicly disclosed as research papers or open-source software.

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“BRC researchers will contribute to the seven pillars of blockchain research: Consensus, privacy, network, smart contracts, DeFi, economics/ethics, and the metaverse,” Kang said.

“To further the mass adoption of blockchain technology, the cross-pollination of ideas is key. Through the BRC, we look forward to fostering research and industry collaborations with like-minded participants around the world,” he added.

Chief Klaytn Officer Seo Sangmin (Sam) giving his speech at the Korea Blockchain Week recentlyChief Klaytn Officer Seo Sangmin (Sam) at the Korea Blockchain Week recently – Photo: Shutterstock

KAIST and NUS

Sam, also Klaytn Foundation’s representative director, said: “In line with Klaytn's vision to be the bridge from Web2.0 to Web3.0, bridging the latest findings in blockchain between the research community and industry leaders is key for successful real-world applications in DeFi or the metaverse.”

KAIST is Korea’s first and top science and technology university. KAIST and its graduates have been the gateway to advanced science and technology, innovation, and entrepreneurship.

Singapore’s flagship university, NUS, offers a global approach to education, research and entrepreneurship, with a focus on Asian perspectives and expertise.

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