New York City Economic Development Corporation opens blockchain center

The New York City Economic Development Corporation (NYCEDC) has opened a blockchain center in Manhattan, Bloomberg reported.

The NYCEDC first revealed its plans to launch a resource centre in May 2018. It said at the time that it aims to position New York City as an accessible center for blockchain innovation.

The newly-launched 4,000-square-foot center is located in the Flatiron District. With blockchain education as one of the primary focus areas, it will offer coding and software development classes.

“We are playing the long game,” Ana Arino, chief strategy officer at the EDC, told Bloomberg. “It’s a nascent technology, so there’s bound to be uncertainty around this evolution from year to year. While we don’t know what the future holds, we want to make sure we have a seat at the table shaping it.”

The NYCEDC opened the center in partnership with affiliates of venture-capital fund Future\Perfect Ventures and the Global Blockchain Business Council. The city is providing an initial one-time investment of $100,000 to the initiative.

In addition, the operators will also seek to raise funds through membership fees and corporate partners, which includes the likes of Microsoft and IBM, Jalak Jobanputra, managing partner at Future\Perfect Ventures said.

New York could also start a blockchain trial in the fall, the report said.