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NYCEDC Launches Blockchain Center in Manhattan

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The New York City Economic Development Corporation (NYCEDC) has declared that it would be opening its Blockchain Center in Manhattan.

Bloomberg first reported the development.

The NYCEDC expressed that the facility is part of a collaboration with foreign trade group Global Blockchain Business Council and associates of New York-based venture capital fund Future Perfect Ventures.

Situated in the Flatiron District of Manhattan, the 4,000-square-foot facility offers blockchain-oriented educational services to the public, such as programming lessons to talks made for software developers.

The chief strategy officer at the NYCEDC, Ana Arino, was quoted as saying in the Bloomberg report that the organization is “playing the long game” when it comes to the potential of blockchain technology, and is actually looking to keep New York at the forefront of future development.

Arino remarked:

“[Blockchain is] 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.”

New York City is said to be putting in a “one-time initial investment of $100,000.” Bloomberg reports that the group would be looking to gather more funds through membership fees and corporate partners, which already include Microsoft Corp. and International Business Machines Corp.

The Bloomberg report also stated that the city has plans to test the use of blockchain tech in the coming fall.

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