Frankfurt School Blockchain Center becomes validator at Bloxberg
Frankfurt am Main - June 30, 2020 - The Frankfurt School Blockchain Center (FSBC) becomes a member of the Bloxberg consortium. Bloxberg is a global blockchain infrastructure for scientists and researchers aiming to increase the efficiency of scientific work. Bloxberg makes use of blockchain’s inherent features to assign research data certification, increases transparency and cooperation between research institutions. The FSBC supports the consortium as a member and validator of the blockchain infrastructure. — Authors: Philipp Sandner, Stefan Schmitt
The Bloxberg consortium currently offers several use cases, for example, research data certification and genesis information. “Researchers can leverage Bloxberg to create a transparent footprint of their work, without revealing its content”, is stated on the website [1]. To achieve that, data is uploaded on a platform and linked to the blockchain through hashes giving the researcher the power to prove when the work was created — effectively assigning a certified timestamp to scientific work. This information is validated and certified by the Bloxberg blockchain.
With this, Bloxberg changes the way data is stored. “The scientists in the founding consortium agree that Bloxberg will change the way scientific data and results will be managed and communicated in future”, says Dr. Sandra Vengadasalam of the Max Planck Digital Library [2]. Instead of relying on a classic client-server architecture that generates silos, a decentralized system, the blockchain, is used.
Prof. Dr. Philipp Sandner, head of the FSBC, comments on the membership: “Bloxberg is a unique idea initiated by leading research institutions such as the Max Planck Society. Scientific work is prone to disruption: Research often happens in silos, data is intransparent and hard to verify, and research grants are distributed based on reputation or the track record of the institution and often go through intermediaries. This is exactly where blockchain shines: Creating transparency, connecting parties, breaking up silos, and eliminating intermediaries or at least changing their role. This is why we decided to join Bloxberg and run a validator node.”
In research, information is often only made public when going into peer-review. This slows the process as the data is only then (or even later) made available to the scientific community. Using Bloxberg’s genesis information opens new ways for researchers to collaborate and share their work before it is published in a traditional way. The platform helps to verify the authenticity of data, guarantees protection of intellectual property rights, enables the exchange of valuable research results, peer-reviewing, the publication of papers, and much more.
The Frankfurt School Blockchain Center is excited to join this consortium to contribute insights, engage in current projects and develop new ideas. “What we currently see at Bloxberg is fascinating, but it is just the beginning”, says Prof. Sander. “In the next five years, initiatives like Bloxberg are going to have a great impact on how scientific work is done.”
The Frankfurt School Blockchain Center is a think tank and research center which investigates implications of the blockchain technology, crypto assets and distributed ledger technology (DLT) for companies and their business models. Besides the development of prototypes, it serves as a platform for managers, startups, technology and industry experts to share knowledge and best practices. The Blockchain Center also provides new research impulses and develops trainings for students and executives. It focuses on banking, finance, mobility and, “Industrie 4.0”.
The Bloxberg infrastructure is a secure global blockchain established by a consortium of leading research organizations to provide scientists with decentralized services worldwide. The Bloxberg Consortium aims to foster collaboration among the global scientific community, empowering researchers with robust, autonomous services that transcend institutional boundaries. For example, with consented transactions on the Bloxberg infrastructure, research claims need not be limited to one institution alone but can be confirmed by the whole trusted network.
Prof. Dr. Philipp Sandner has talked about the FSBC joining Bloxberg with Stefan Schmitt in a video interview. Find out more about the reasons behind the Frankfurt School Blockchain Center joining Bloxberg, what the consortium is currently working on and how blockchain can transform the processes of scientific work, publication and cooperation between institutions.
About Bloxberg
“The Bloxberg infrastructure is a secure global blockchain established by a consortium of leading research organizations to provide scientists with decentralized services worldwide. The Bloxberg Consortium aims to foster collaboration among the global scientific community, empowering researchers with robust, autonomous services that transcend institutional boundaries. For example, with consented transactions on the Bloxberg infrastructure, research claims need not be limited to one institution alone, but can be confirmed by the whole trusted network.” [3]
Find out more about Bloxberg on the website and reading their whitepaper.
Remarks
More information about the Frankfurt School Blockchain Center can be found on the Internet, on Twitter or on LinkedIn.
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About the Authors
Prof. Dr. Philipp Sandner has founded the Frankfurt School Blockchain Center (FSBC). From 2018 to 2021, he was ranked among the “top 30” economists by the Frankfurter Allgemeine Zeitung (FAZ), a major newspaper in Germany. He has been a member of the FinTech Council and the Digital Finance Forum of the Federal Ministry of Finance in Germany. He is also on the Board of Directors of FiveT Fintech Fund, 21e6 Capital and Blockchain Founders Group — companies active in venture capital financing for blockchain startups and crypto asset investment management. The expertise of Prof. Sandner includes crypto assets such as Bitcoin and Ethereum, decentralized finance (DeFi), the digital euro, tokenization of assets, and digital identity. You can contact him via mail (m@philippsandner.de) via LinkedIn or follow him on Twitter (@philippsandner).
Stefan Schmitt is a project manager at the Frankfurt School Blockchain Center (FSBC). Next to his work on a Horizon 2020 project by the European Commission and being the project lead of the Frankfurt School Blockchain Academy, he is a manager at the International Token Standardization Association (ITSA) e.V. and consulting several blockchain startups ranging from custody over payments to infrastructure. Mr. Schmitt holds a Master in Finance (M.Sc.) from Frankfurt School of Finance and Management. You can contact him via email (stefan.schmitt@fs-blockchain.de) or on LinkedIn.
Endnotes
[1] Bloxberg website (2020), https://Bloxberg.org/
[2] Dr. Sandra Vengadasalam, Max Planck Digital Library, 2019, https://www.mpg.de/13417668/first-international-blockchain-for-science-Bloxberg
[3] Bloxberg website (2020), https://Bloxberg.org/
