The University of Texas at San Antonio (UTSA) has established the National DigiFoundry (NDF) with a $300,000 NSF grant, aiming to innovate in digital asset management. The inaugural annual meeting is set for January 22-24, 2024, in San Antonio, TX. Genesis Block Founding Members include Microsoft, IBM, Constellation Networks, BioCrowd, and The Blockchain Academy. NDF Workgroups, like the BioCrowd-led Decentralized Science DAO, highlight NDF's role in democratizing research funding and promoting a more equitable digital ecosystem.
The University of Texas in San Antonio (UTSA) has made monumental progress in managing digital assets. They've created the National DigiFoundry (NDF). A generous grant of $300,000 from the National Science Foundation (NSF) supports this important initiative. Officially introduced to the world on October 25, 2023, the NDF is crucial in reshaping how digital assets, like cryptocurrencies, are managed. The objective is to set global norms and successful methods for using and trading digital assets.
The NDF represents a collaborative national initiative to continuously innovate within the digital asset ecosystem, addressing many risks, frauds, and scams in this rapidly evolving sector. The NDF is on a mission to change financial systems and wants everyone to have a say. This is possible through a strong partnership between the public and private sectors.
Operationally, the NDF is similar to a Decentralized Autonomous Organization or DAO within which "Smart contracts" autonomously execute critical management decisions. A smart contract is a computer program or transaction protocol that automatically implements, controls, or documents events and actions. This national body will explore how best to use this Web 3.0 innovation to improve the efficiency and effectiveness of public and private sector partnerships.
Digital assets like cryptocurrencies are now worth more than a trillion dollars. They're a massive part of the economy. John Huggins, interim director at UTSA's National Security Collaboration Center (NSCC), agrees. He thinks collaborating on digital assets can lead to big things. This partnership can solve issues and grab opportunities.
The NDF will focus on four inaugural workgroups, each addressing crucial societal challenges: Climate Change Disaster Response, Decentralized Science, Secure Information Sharing, and Advanced Geospatial Data Uses. These groups will explore innovative ways to utilize blockchain and digital assets in areas like post-natural disaster recovery, scientific publishing, cybersecurity, and broader application of geospatial data to governmental functions.
Addressing the technical risks associated with digital asset management, the NDF aims to eliminate information silos and offer frictionless access for digital asset users, thereby enhancing security and efficiency in this domain. NDF Genesis Block Founding Members include Microsoft, IBM, Constellation Networks, BioCrowd, and The Blockchain Academy. The first annual meeting is scheduled for January 2024 at UTSA's San Pedro I facility in downtown San Antonio, marking a significant milestone in this pioneering journey.
Eric Adolphe, CEO of Forward Edge-AI Inc. and a founding collaborator of the NDF, commends the initiative as "an exciting new model for quickly transitioning new digital asset technologies into practical, valuable, and innovative use cases." The NDF's innovative approach aligns with the Biden Administration's Executive Order No. 1407 (2022), which is focused on ensuring the responsible development of digital assets.
BioCrowd, a private biotech democratized research funding company, is a crucial collaborator in this venture. Their involvement underscores the NDF's commitment to fostering an inclusive scientific research and funding environment. Mark Stoner, founder and CEO of BioCrowd, highlights the NDF's potential to create a democratized environment that reduces inequalities in medical research funding and encourages more significant community influence on research pathways.
BioCrowd's participation in the NDF includes leading the Decentralized Science (DeSci) Working Group to create an open alternative to the current scientific research and funding system. This initiative is expected to revolutionize how scientists raise funding, share data, and distribute insights, providing opportunities for earning fractional royalties and encouraging a sustainable open science movement.
The NDF, as a member-funded ecosystem, offers various membership levels for commercial entities, government, NGOs, and non-profit organizations, allowing members to support topics and activities that align with their interests.
The concept applies to healthcare, high-tech production, managing supplies, energy, transport, and Web 3.0 goods and services. This move marks significant progress toward a safer, smoother, and fair digital asset network.
Individuals can access the official website for further information on the National DigiFoundry and its activities.
Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
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