Home Capital & Crypto Coinfirm Opens First Blockchain Lab in Central Europe

Coinfirm Opens First Blockchain Lab in Central Europe

Samburaj Das
Last Updated March 4, 2021 4:48 PM

Blockchain startup Coinfirm.io has announced the launch of the first Blockchain lab to collaborate on the innovation’s development, research and collaboration in the region.

Coinfirm, a Polish blockchain startup has launched the Coinfirm Block Lab, a go-to hub for blockchain development and research. The platform also seeks to bring in regulatory institutions to participate and collaborate with developers and startups in the bitcoin and blockchain industry.

In a collaborative effort, Coinfirm has also partnered with European bitcoin exchange Bitcurex along with other unnamed financial institutions and entities.

In a media release,  Coinfirm reveals its goal to establish an ecosystem to connect startups, investors and partners along with talent from around the world, to push for blockchain development coming out of the region.

Whilst the Warsaw-based startup is primarily focused on blockchain identification, verification, and compliance, the lab will help achieve a broader focus.

In a statement, Coinfirm co-founder Pawel Kuskowski opined:

It will be a great environment to work on solutions around Bitcoin, Ethereum, smart contracts and compliance but will address countless types of applications. Much like the Internet was in the 90’s, Blockchain is going to very quickly affect countless industries and become a significant part of the systems that run our daily lives.

Arguably, blockchain has been ‘trending’ for a while within the financial industry, with global banking consortiums such as R3 leading the way. However, Kuskowski believes that blockchain innovation is one that should be accessible and available by wider society.

“Development and access at this stage should not only be available to financial institutions or well-funded companies,” Kuskowski said, “but also governments, developers, universities and other startups.”

The lab is already home to projects in development such as the IDbity project, a ‘bug bounty’ program where developers are rewarded for finding system vulnerabilities and solutions for blockchain applications for the unbanked. The startup has partnered with entities based in Nigeria for such endeavors.

Kuskowski added:

Blockchain is probably the most important technology since the advent of the internet and it’s crucial for everyone’s long-term goals to be able to have access to this opportunity.

Featured image from Shutterstock.