14 October 2020
Of the 27 awardees for the 2020 IBM Academic Awards announced last night, Dr Yu, Associate Director (Research) in the Monash Blockchain Technology Centre, was one of two recipients to receive an award for research in this important field.
The IBM Academic Awards promote collaborative research projects that advance the emerging technologies of today and encourage a sharing of knowledge amongst the global technology community.
A researcher in the Faculty of Information Technology at Monash University, Dr Yu is known for his research into blockchain systems. His most recent work demonstrates how businesses can realise their potential by adopting blockchains that can communicate with one another.
“Currently, there are over 5,000 blockchain systems and each represents an ecosystem. Personally, I believe that there will be many blockchain systems built for specialised applications. Our research explores how these blockchains can communicate with each other, enabling distributed users to exchange their data and assets between different blockchains without the need for a central go-between,” says Dr Yu.
Over the last decade, the rapid growth of blockchain technologies and their applications has seen governments around the world develop strategies to boost the blockchain industry. More recently, the Australian Government also announced a National Blockchain Roadmap to help position the country’s blockchain industry to become a global leader, where interoperable blockchain is a key focus.
“Ultimately, the goal is to manage cryptocurrency and blockchain-based asset exchange with the same level of scalability, performance and equity that businesses and traders now enjoy in the financial world,” explains Dr Yu.
“If we can provide a mechanism generic enough to allow the communications between blockchains, we can bridge the gap between what would otherwise be isolated blockchains and enable a more connected network of ecosystems. I believe this will be the next advancement in technology that will shake the world.”
Congratulations to all those who have been selected for a 2020 IBM Academic Award.
To learn more about Dr Yu’s research, visit the Monash Blockchain Technology Centre website.