Partnership for Economic Innovation Secures Funding for Next Cohort of Arizona Blockchain Applied Research Center

MetaXFashion and DASH Join AZ BARC to Solve Metaverse Supply Chain and Digital Storage Challenges with $400,000 in State Matching Funds

MetaXFashion and DASH Join AZ BARC to Solve Metaverse Supply Chain and Digital Storage Challenges with $400,000 in State Matching Funds

PHOENIX, ARIZONA, USA, Oct. 27, 2022 /EINPresswire.com/ — The Partnership for Economic Innovation, a passionate collective of business and community leaders dedicated to accelerating Arizona’s economic opportunity, and the Arizona Blockchain Applied Research Center (AZ BARC) have has been awarded $400,000 in state-awarded funding by the Arizona Commerce Authority to research new applications in blockchain technology. This funding will support the newest members of AZ BARC and their research projects, MetaXFashion and DASH, as well as a data exchange project using commitments from existing AZ BARC members.

Blockchain, a decentralized distributed ledger technology that tracks ownership of digital assets, has grown in popularity for its practical applications in financial and creative industries. Through AZ BARC, new industry partners MetaXFashion, DASH and university researchers at Arizona State University will collaborate to investigate supply chain technologies for brands entering the metaverse and new applications of blockchain to improve the transaction throughput of the DASH network.

“Through the Arizona Blockchain Applied Research Center, we aim to place Arizona at the forefront of technological advancement and growing Arizona’s tech workforce,” said Kathleen Lee, director of applied research at the Partnership for Economic Innovation. “We thank the Arizona Legislature and the Arizona Commerce Authority for providing these critical resources so we can support leading blockchain researchers to advance innovation and sustainability in Arizona’s economy.”

For MetaXFashion, AZ BARC will explore supply chain solutions to bridge the physical and virtual worlds, aiming to create a sustainable NFT Marketplace and imprint ecosystem on the Algorand blockchain where fashion designers, consumers and products can interact. The AZ BARC team will enable the use of QR codes, RFIDs (Radio Frequency Identification) and NFCs (Near Field Contact – touch screens on smartphones) for transparent tracking of activities in the fashion metaverse.

The DASH project will study how blockchain-based aggregated signature solutions can improve platform performance and efficiency. The study will also develop optimization techniques by mapping and analyzing the performance of existing signatures.

The Data Exchange project will create a platform where IoT system providers can create ad-hoc challenges for their IoT devices. End users will be able to access and “solve” the challenges that result in unique IoT data streams. These data streams will be offered on an open data marketplace. The IoT systems (Internet of Things) are being integrated into all parts of our everyday life, from smartphones and wearables, over smart home/building systems to smart cities, IoT systems handle various smart sensing and automation challenges. This project will develop solutions and services in data portability that tackle issues such as data compatibility and interoperability, data sovereignty, data transparency, security and privacy, among others.

State funding awarded by the Arizona Commerce Authority will go toward researching and validating the technology applications for each of these projects. Once the research and validation phases are complete, AZ BARC will assist each project with the next steps to deploy the technology for real-world use by industry leaders and members of the public.

“The MetaXFashion and DASH blockchain projects represent AZ BARC’s commitment to creating a path for innovative advancements that shape Arizona’s technology landscape,” said Dragan Boscovic, director of research at AZ BARC. “We look forward to adding them to our portfolio of blockchain research projects.”

AZ BARC follows a consortium model as research is driven by industry needs. AZ BARC is a public-private partnership funded by member companies, the Partnership for Economic Innovation and grants made available from the Arizona Legislature through the Arizona Commerce Authority. The member companies provide annual funding through Member quotas which are determined each year. Additional members of AZ BARC include Intel Corporation, Kudelski Security, Early Warning Services, LLC, BD and Movemedical. To learn more about AZ BARC and membership options visit azbarc.org.

Erica Fetherston
10 to 1 PR
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