Fidelity Joins IC3 Blockchain Research Initiative

Fidelity Investments has moved to back a prominent research effort centered on cryptocurrencies and blockchain.

Apr 10, 2017 at 5:10 p.m. UTC
Updated Sep 11, 2021 at 1:13 p.m. UTC

Fidelity has moved to back a prominent research effort centered on cryptocurrencies and blockchain.

As reported by Reuters, Fidelity is the first asset manager to join the Initiative for CryptoCurrencies and Contracts (IC3), launched several years ago with funding from the US National Science Foundation. The firm's technology-focused arm, Fidelity Labs, will join the team which includes Cornell University, University of California at Berkeley, IBM Corp and Intel Corp.

Hadley Stern, SVP for Fidelity Labs, told Reuters:

"What IC3 brings is that academic computer science legacy that can help us explore how this technology can be applied."

Fidelity's entry into the IC3 project follows years of growing interest on both the bitcoin and blockchain fronts.

, the firm submitted a patent application outlining its so-called "SOCOACT" technology, which among other applications could find use as a means to deploy blockchain-based elections.

Fidelity began accepting bitcoin through its charitable arm in late 2015, raising $7m last year.

Image via Shutterstock

This article has been updated for clarity. 

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
Bitcoin Rises to $30K; Resistance at $35K

BTC is on track to register a positive momentum signal on the daily chart.

BTC is on track to register a positive momentum signal on the daily chart.

2
What Web 3 Means to Andreessen Horowitz

And what the venture capital firm's "State of Crypto" report means for you.

And what the venture capital firm's "State of Crypto" report means for you.

3
Nansen Acquires DeFi Portfolio Tracker Ape Board for More Than $10M

Nansen plans to combine its analytics with Ape Board's portfolio tracking to make the "definitive information super app of Web 3."

Nansen plans to combine its analytics with Ape Board's portfolio tracking to make the "definitive information super app of Web 3."

4
Terraform's Legal Team Quits Amid Terra Stablecoin Fallout

Marc Goldich, Lawrence Florio and Noah Axler left the Terra ecosystem backer in May, according to their LinkedIn profiles.

Marc Goldich, Lawrence Florio and Noah Axler left the Terra ecosystem backer in May, according to their LinkedIn profiles.