The University of Tulsa will soon be opening a new department dedicated to the creation of the technology that could eventually be used in the creation and management of the world’s largest decentralized digital currency, blockchain.
The department, created in partnership with blockchain startup, DappsFound, will be the second of its kind in the nation’s capital, and it will be a prime example of what’s possible in the cryptocurrency space.
The new department, called Digital Futures, will offer a wide variety of blockchain research and education, as well as offer mentorship opportunities to local students and alumni.
DappsFutures has already worked with the Tulsa city government to develop a blockchain-powered system to manage city services and pay for municipal services.
The city is expected to open its first public blockchain-based payment system for businesses in 2019, according to Tulsa’s website.
In 2018, the Tulsa City Council approved the creation in partnership between the city and the University of Texas at Austin of a new cryptocurrency department, which is currently called the Blockchain & Data Innovation Center (B&DIC).
The B&Dic will be dedicated to developing technologies that will allow the city to improve its ability to pay for its services, which currently includes managing and enforcing taxes, hiring, firing, and issuing city contracts.
It will also be tasked with developing blockchain-driven software solutions to manage and manage the city’s municipal finances.
The creation of a blockchain department will not only help Tulsa avoid the massive bureaucracy and paperwork that often accompany blockchain technology development, it could also help Tulsa meet a long-term need for more efficient financial reporting.
“We have been working closely with the University to create a blockchain and data innovation center in the city, and this new department will enable us to continue to develop innovative technology solutions for the city,” said City Council Member Tom Johnson.
“This department will help the city get the most from the city in the most efficient way possible, with the potential for a long and fruitful partnership.”
Tulsa has already partnered with a number of companies to develop and test blockchain-related solutions, including blockchain start-up, Blockchain Capital, which Johnson co-founded and manages.
The City of Tulsa’s partnership with Dappsfound will be an important step in the direction of developing the technology needed for the creation, management, and implementation of a viable decentralized digital payment system, said Austin-based blockchain investor and co-founder of the University’s Blockchain & Digital Future department, Aaron Miller.
“There are many areas of technology that have a big potential for disruption, and in the blockchain space that has a big impact on the economy,” Miller said.
“In fact, the reason I was able to be able to join the University and be part of this department is because I am a huge believer in blockchain, and I believe that the technology can be used to create the kind of decentralized payment system that we need.”
Miller also believes that blockchain could eventually help Tulsa move beyond its current problems of bureaucracy and red tape.
“The city of Tulsa has been a leader in the development of digital currency and digital financial services,” Miller continued.
“I think there are a lot of great people on the University campus, and we are excited to bring this new division into our department and the city of downtown Tulsa.”
Tulsa’s new blockchain department is expected, with a formal announcement expected in the next few weeks.
“Tulsans public and private sector will soon have the opportunity to explore the technology of blockchain in a way that has never been possible before,” Johnson said.