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EPSRC puts its money into bitcoin-type technology

The Engineering and Physical Sciences Research Council has awarded £3.6 million for seven projects investigating the concept of digital distributed ledgers—databases shared between multiple parties—to make them more transparent while upholding security and privacy.

Academics and industry partners will aim to find new uses for digitally distributed ledgers, focusing on fields such as energy, healthcare, banking and policymaking. Three of the seven projects will be led by researchers at the University of Surrey, while the others will be headed by staff at Brunel University, University of Edinburgh, the University of Leicester and University College London.

The best known form of distributed ledger technology is the digital currency bitcoin, which uses blockchain technology to create a distributed ledger made of unchangeable and digitally recorded data stored in packages called blocks, the EPSRC explained in a statement on 12 April.

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