Shifting Priorities
The Royal Melbourne Institute of Technology (RMIT) plans to restructure its Blockchain Innovation Hub by 2025, integrating it into the finance school as a general research group. This move aims to optimize resource allocation and prioritize student learning over maintaining a dedicated blockchain-focused unit.
Challenges Behind the Decision
Founded in 2017, the Blockchain Hub initially gained recognition as a leader in blockchain research. However, funding shortfalls and declining research output have prompted the university to rethink its approach. Researchers will now balance teaching responsibilities with their research, raising concerns about the potential dilution of RMIT’s impact in the field.
Industry Implications
The decision coincides with a surge in blockchain interest, particularly as Bitcoin’s value has exceeded $100,000. Critics question whether this restructuring signals a retreat from blockchain research at a time when the technology is gaining momentum globally.
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