New York City Looking To Be a Leader in the Blockchain Industry

May 14, 2018 BY

The New York City Economic Development Corporation opens Consensus 2018 with major blockchain announcements.

Today, James Patchett, President and CEO of the New York City Economic Development Corporation (NYCEDC) announced plans to make New York City a blockchain hub.

“We’re a global leader in finance, real estate, media, and tech – all industries seeing incredible innovation from this new technology. The city is putting a big focus into blockchain to find out how we can grow the industry and make sure it’s creating great opportunities for New Yorkers,” said James Patchett in his speech.

The NYCEDC will begin by launching two initiatives, the first being the NYC Blockchain Resource Center. The NYCEDC intends for this center to be used as a hub for the entire blockchain industry, as well as a place to discover how blockchain can best be implemented to assist NYC. The center will focus on spreading the word about blockchain. The center will provide education to the public about blockchain, it will provide advisory services, and mentorship. It will also aim to connect business owners with appropriate blockchain tech. The center will also host investors and stakeholders, as well as government officials and consumer advocates.

The second initiative is a public blockchain competition. The NYCEDC plans to oversee a competition where blockchain projects will compete to see what projects can best suit the services and processes of the public sector. The competition also plans to hold education workshop for government officials interested in learning about the benefits of the blockchain. The NYCEDC plans to begin this competition in late 2018.

“There’s no city in the world that’s better positioned to lead the way in blockchain,” said James Patchett. Patchett could not be more correct. These new initiatives by the NYCEDC have the potential to be huge game changers in the blockchain industry since New York City is a leader in so many industries. It will be enthralling to follow the success of their new initiatives.


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