Crypto

The Blockchain Group settles in Montreal

A French company specializing in blockchain is opening new offices in Montreal to take advantage of the artificial intelligence (AI) expertise present there to develop its solutions.

Blockchain Group is launching its Blockchain Research Center in Montreal and wants to recruit around 100 “business profiles and consultants specializing in the fields of blockchain and data intelligence” over the next three years.

What is blockchain?

Blockchain is a technology that allows the creation of transparent databases, with a high level of security and operation without a central control body. Therefore, each information entered in these databases cannot be modified or falsified by a participant in the transaction or a third party.

Blockchain is also the source of most cryptocurrencies (including bitcoin), that is, decentralized digital currencies.

In fact, AI would reduce the ecological footprint of the blockchain, an important issue considering that the most popular cryptocurrencies they consume more electricity overall than some nations.

Smart contracts in natural language and blockchain monitoring techniques will also be among the laboratory’s first lines of research.

“We want to thank Montréal International and Investissement Québec for their support in this implementation phase: their help enabled us to establish these structures in record time,” Lionel Rigaud, Director of Digital Strategy at The Blockchain Group, said in a press release. In fact, this city has an extraordinary ecosystem in aspects of data, artificial intelligence and blockchain, formalized by the presence of recognized research institutes, incubators and public support in this field. “

In addition, the company hopes to expand its service activities from its Montreal hub, as well as the commercialization of blockchain and Data Intelligence platforms in the American continent.

“This Research Center enhances the reach of our high-tech sector and confirms that Montreal is an enviable hub on the world stage.” -Stéphane Paquet, President and CEO of Montréal International

The development of the blockchain could have applications in other sectors, especially in cybersecurity, its technology being known for being difficult to hack.

Photo Credit: Pexels / Alesia Kozik

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