MetaXFashion and DASH team up with AZ BARC to tackle the metaverse supply chain and digital storage challenge with $400,000 in state matching funds
– Kathleen Lee, Director of Applied Research, PEI
PHOENIX, ARIZONA, USA, October 27, 2022 /EINPresswire.com/– Ing Partnership for Economic InnovationA passionate collective of business and community leaders dedicated to accelerating Arizona’s economic opportunities, and Arizona Blockchain Applied Research Center (AZ BARC) has been awarded $400,000 in state funding by the Arizona Commerce Authority to research new applications in blockchain technology. This funding will support AZ BARC’s newest member and research projects, MetaXFashion and DASH, in addition to the Data Exchange project leveraging commitments from existing AZ BARC members.
Blockchain, a decentralized distributed ledger technology that tracks the ownership of digital assets, has become popular due to its practical applications in the financial and creative industries. Through AZ BARC, MetaXFashion’s new industry partner, DASH and university researchers at Arizona State University will collaborate to investigate supply chain technologies for brands entering the metaverse and new blockchain applications to increase DASH network transaction throughput.
“Through the Arizona Blockchain Applied Research Center, we aim to put Arizona at the forefront of technological advancements and grow Arizona’s technical workforce,” said Kathleen Lee, Director of Applied Research at the Partnership for Economic Innovation. “We thank the Arizona Legislature and the Arizona Commerce Authority for providing these critical resources to support leading blockchain researchers to promote innovation and sustainability in the Arizona economy.”
For MetaXFashion, AZ BARC will explore supply chain solutions to connect the physical and virtual worlds, with the aim of creating a sustainable NFT Market and printing ecosystem on the Algorand blockchain where fashion designers, consumers and products can interact. The AZ BARC team will enable the use of QR codes, RFIDs (Radio Frequency Identification), and NFCs (Near Field Contact – touch screen on smart phones) to transparently track activities in the fashion metaverse.
The DASH project will study how blockchain-based aggregated signature solutions can improve platform performance and efficiency. The study will also develop optimization techniques by surveying and analyzing the performance of existing signatures.
The Data Exchange project will create a platform where IoT system providers can create ad-hoc challenges for IoT devices. End users will be able to access and “solve” the challenges that cause unique IoT data flows. These data streams will be offered on an open data market. Internet of Things (IoT) systems are becoming integrated in all segments of our daily lives, from smartphones and wearable devices, through smart home/building systems to smart cities, IoT systems handle various challenges of smart sensing and automation. This project will develop solutions and services in the field of Data Portability to address issues such as data compatibility & interoperability, data sovereignty, data transparency, security & privacy, and more.
State funding awarded by the Arizona Commerce Authority will investigate and validate technology applications for each of these projects. Once the research and validation phase is complete, AZ BARC will assist each project with the next steps to put the technology into real-world use by industry leaders and community members.
“The MetaXFashion and DASH blockchain projects represent AZ BARC’s commitment to creating pathways for innovative advancements that are shaping Arizona’s technology landscape,” said Dragan Boscovic, Director of Research at AZ BARC. “We look forward to adding it to our portfolio of blockchain research projects.”
AZ BARC follows a consortium model as research is led by industry needs. AZ BARC is a public-private partnership funded by Member companies, the Partnership for Economic Innovation and grants available from the Arizona Legislature through the Arizona Commerce Authority. Member companies provide annual funding through Membership fees determined each year. Additional members of AZ BARC include Intel Corporation, Kudelski Security, Early Warning Services, LLC, BD and Movemedical. To learn more about AZ BARC and Membership options visit azbarc.org.
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