12 July 2022 CSNEWS Department of Computer Science , Faculty , FinTech

12 July 2022 — NUS Computing’s CRYSTAL Centre has received a donation from Klaytn Foundation, a Singapore-based non-profit organisation, to advance research in blockchain technology.

Blockchain refers to a form of digitally distributed ledger technology commonly used in cryptocurrency systems, with its unique features being decentralisation and immutable transactions.

Headed by NUS Computing Associate Professor Prateek Saxena, CRYSTAL Centre focuses on research involving blockchain and cryptocurrencies, such as improving the scalability and security for blockchain protocols. The Centre also aims to groom a community of technical experts who can conceive challenging ideas and enable faster adoption of blockchain technology.

The Foundation, which aims to accelerate global adoption and ecosystem growth of Klaytn, a public blockchain focused on the metaverse, gamefi, and the creator economy, will support CRYSTAL Centre’s research on foundations for next-generation blockchain technology with this gift.

It joins a list of deep tech donors who have enabled the CRYSTAL Centre to embark on more blockchain research activities.

“We recognise NUS CRYSTAL Centre as a major contributor to advancements in blockchain technology, and we hope that the gift can help in furthering the research and impact by the Centre,” said Dr Sangmin Seo, Director of the Klaytn Foundation.

“We are very thankful for Klaytn’s support to the Centre's ongoing research. We will use the donated funds to investigate better resilience and new cryptographic constructs useful in decentralised systems,” said Prof Saxena.