DigitalX joins national program to research huge opportunities in transforming financial markets
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Special Report: A Perth-based blockchain company has partnered with a new federally funded research program examining the digitisation of real-world assets.
DigitalX (ASX:DCC) has executed a partnership agreement with the Digital Finance Cooperative Research Centre, which the Australian federal government recently funded with a $60 million cash investment.
Consortium partners including the Reserve Bank of Australia, National Australia Bank, Macquarie Bank, Origin Energy and others are providing $121 million in funding over 10 years. CSIRO and seven universities are also taking part.
DigitalX has committed $2.5 million over the next 10 years to participate, the company said.
Beginning next year, the Cooperative Research Centre will begin researching how assets can be tokenised for trading worldwide.
“We are excited to have now partnered with the Digital Finance CRC and to join a multi-disciplined group of companies and research universities undertaking important research and commercial development of new ideas for the growth of digital finance,” said DigitalX Chief Product Officer David Beros.
“We’re looking forward to bringing our expertise to the Digital Finance CRC and making a meaningful contribution to Australian financial technology innovation over the next 10 years.”
In anticipation of the CRC’s commencement in early 2022, DigitalX has been exploring the potential for a number of projects on the frontier of blockchain based organisations.
It’s considering research projects related to how digital governance models such as Decentralised Autonomous Organisations (DAOs) can be used to coordinate real-world investment decisions, as well as risk and investment strategies for realising returns through staking and lending of digital assets on corporate balance sheets.
DAOs are a type of 21st Century digitally native cooperative governed by its token holders. As Stockhead recently reported, a DAO in the United States recently made history by raising US$46 million in a week to buy an extremely rare copy of the US Constitution, although ultimately it was outbid.