NTU Singapore launches center for blockchain

Nanyang Technological University, Singapore (NTU Singapore) is chosen by Algorand Foundationthe world’s greenest and most secure blockchain ecosystem, hosting a new research and education center aimed at developing and promoting blockchain technologies.

Known as Algorand Center of Excellence at NTU (ACE@NTU)NTU is one of 10 new Algorand Centers of Excellence (ACE) established earlier this month.

NTU is the only leading institution in Asia selected for this US$50 million program and joins other top universities such as UC Berkeley, Carnegie Mellon University, Yale University and Purdue University, to name a few.

Algorand was first established by Professor Silvio Micali from the Massachusetts Institute of Technology in 2017. It is a fully decentralized, secure and scalable blockchain that provides a common platform for building products and services for a borderless economy.

The goal of the ACE program is to establish a global network of blockchain and cryptocurrency research and education centers that promote collaborative, interdisciplinary and cutting-edge knowledge and technology.

Over the next five years, ACE@NTU aims to become the hub for blockchain education and research, as well as foster a vibrant ecosystem to promote the development and adoption of blockchain in Singapore and the region.

NTU Vice-Chancellor and Provost Prof Ling San said blockchain is a rapidly developing field where NTU faculty have made research breakthroughs, and where industry is very keen to collaborate and build expertise.

“As a world-leading university with deep expertise in computer science and related fields, we now aim to groom a pool of blockchain talent for Singapore. Through research, new programs and graduate courses, NTU will equip undergraduates, postgraduates and industry professionals with cutting-edge blockchain knowledge and expertise , to accelerate industry adoption of the technology, Professor Ling said.

ACE@NTU will also develop real-world blockchain applications in collaboration with industry partners, which will have societal, sustainable and economic benefits for Singapore and the region.

“We are thrilled to have NTU researchers and their collaborators elsewhere as part of the ACE programme”, emphasizes Hugo Krawczyk, head of the ACE program. “They bring blockchain expertise and blockchain community outreach to Singapore and the Association of Southeast Asian Nations (ASEAN) sphere. Their focus on interdisciplinary research, education and community reflects the very priorities of the ACE program.”

The research carried out at ACE@NTU will be interdisciplinary, everything from engineering and computer science to economics and business, says NTU Senior Vice President (Research) Lam Khin Yong.

“As part of NTU’s 2025 strategic plan to develop new technologies that can solve some of humanity’s biggest challenges, a key focus of ACE@NTU will be to develop real-world applications based on blockchain in collaboration with industry partners, which will have societal, sustainability and economic impact for Singapore and the region,” adds Prof Lam.

There are five initial blockchain research projects, one of which is SGVerse – a metaverse platform for smart web technologies to be tested worldwide. Two other projects include blockchain implementation for enterprise use, and blockchain-powered machine learning for financial data management.

To facilitate exchange and collaboration between leading institutes and to promote the use of blockchain technology among key decision makers and the public, an International Blockchain Technical Alliance will also be established by ACE@NTU.

NTU will also look to nurture new talent in the field through a new Master of Science in Blockchain doctoral program and a Less in Blockchain for students.

These modules will educate students on Algorand-related technology and content, with hands-on experience on the blockchain platform, and promote awareness and adoption of Algorand technology in the ecosystem.

Plans are also in the works to develop these modules into bite-sized courses that can be combined to achieve a FlexiMaster or micro-credential, with continuing education and training (CET) courses created online for learners worldwide.

The NTU Smart Campus will be an ideal testing ground for the new solutions that are the result of the centre’s education, research and innovation activities.

As an open testbed, NTU will establish an “innovation sandbox” for blockchain, providing an environment where appropriate safeguards are in place and specific legal and regulatory requirements are relaxed for new blockchain technologies to be test-bedded and validated. This sandbox will then help to accelerate industrial uptake and commercialization of blockchain technologies.

Leading this effort at ACE@NTU will be Director Professor Wen Yonggangwho is Assistant Dean (Research) at NTU’s College of Engineering, and Co-director Professor Boh Wai Fong, the Vice Dean of Nanyang Business School.

“Through our new education programs, we hope to provide a pool of workforce-ready talent trained in blockchain for Singapore, while the research arm will provide a steady stream of blockchain innovations for real-world applications and serve to inspire greater interest in blockchain among NTU- society and the general public,” said Prof Wen, who won the Digital Achiever Award at the Singapore Computer Society Tech Leader Awards 2022 earlier this year.

“We hope to establish ACE@NTU as the epicenter for cutting-edge blockchain research, knowledge creation and innovation, catalyzing blockchain adoption for socio-economic impact for Singapore, ASEAN and beyond, to achieve the vision set by the Algorand Foundation – to increase and fuel diverse, brave generations of native blockchains that can create, build and manage and innovate across all geographies.”

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