Finhaven Technology is partnering with Blockchain@UBC to build Finhaven Chain.
The Vancouver-based capital markets technology company wants to build a public blockchain for central banks and regulated entities, the firm announced at the Blockchain Summit, in Los Angeles, California.
Currently, over 100 countries are working on their own Central Bank Digital Currency in a siloed way. To address this problem, Finhaven’s vision is to build a CBDC infrastructure with the global blockchain community.
Finhaven does not intend to be the central organization of this development, but rather “the cornerstone to build the ecosystem at the beginning of the project.”
“Finhaven is an initiator of the Finhaven Chain project, but will not be in control,” the company says. “All participants, including committees, should strive in every possible way to ensure a bottom-up approach and decentralized development, not controlled by any specific organization.”
“We are confident that our proposed principles are the right framework for impactful innovation,” stated said DH Kim, CEO of Finhaven. “We invite you … to join this concerted effort.”
The collaboration between Blockchain@UBC and Finhaven is the first step towards a globally viable ecosystem, according to a statement from the company.
Blockchain@UBC is a multidisciplinary research cluster that engages in research and education to advance development and adoption of blockchain technologies.
“Our research initiatives bring academics, industry and community partners, and policy-makers together to explore pressing issues and advance the emergence of blockchain and distributed ledger technologies,” the organization states.
The University of British Columbia ranks among the top three universities in Canada and is a globally recognized institution for education and learning.
“Blockchain@UBC is excited to partner with Finhaven on this project as we believe in its great contribution to CBDC,” said Chang Lu, PhD., Research Manager. “Blockchain@UBC will provide intellectual support in the form of student internships and faculty advising, and work closely with Finhaven leadership to establish and execute a research strategy.”