Binance Academy, the educational arm of Binance crypto exchange, has announced the establishment of a blockchain research institute in China.

The purpose for the establishment of the Lingang Blockchain Technology and Industry Research Institute is to serve as the hub for blockchain talent. The institution is meant to shape for breakthroughs in blockchain technology, and speed up the application of blockchain technology through integrations with artificial intelligence (AI), big data, Internet of Things (IoT), and other innovative tools.

According to the leader of this initiative, Helen Hai, blockchain revolution will basically affect the way people live and relate with one another. She is however of the view that, technology should work for people and it should lift humanity into a new collective and moral consciousness based sense of common destiny.

Hai added that, their purpose of establishing the research institute is to build a leading think-tank and research hub that contributes to mass developments in blockchain technology to enhance the growth of the industry.

Per the announcement, Don Tapscott, will be acting as the Honorary Dean of the Lingang Blockchain Academy under the Research Institute. He is currently the Executive Chairman of the Blockchain Research Institute and a leading authority on the impact of technology on business and society.

Tapscott remarked that, blockchain represents the second era of Internet, and can assist the world to build more innovative and product organizations. According to Tapscott, research, education and skill development are all crucial in transformation, and so they look forward to partnering with Lingang Blockchain Academy in helping achieve this in China.

The Lingang Research Institute is one of the numerous initiatives Binance and its Academy division are putting in place to support blockchain technology research, development, and applications globally.

Its Binance X arm enables the company to support developers in creating free and open-source software to drive innovations in the blockchain industry. Other initiatives such as Binance Labs and the recent Blockchain for India funds are all contributing to reshaping the industry.

Featured image courtesy of Binance Vision.