Distributed Technologies Research (“the Foundation” or “DTR”), a non-profit foundation that funds R&D work of distributed technologies, in a recent statement on Thursday, Jan. 17th 2019, announced its official launch, and introduced its first official project, dubbed, “Unit-e,” a globally scalable decentralized payments solution.
Scalability issue in cryptocurrencies is a critical factor that’s affecting its widespread adoption. The foundation will fund the research to address this scalability issue, by delivering a scalable blockchain technology stack. These critical innovations being developed in Unit-e will be applicable to all general-purpose blockchains.
According to Babak Dastmaltschi, Chairman of the DTR Foundation Council, the blockchain tech and digital currency markets are at the similar crossing as the telecom and the internet. Adding further, Dastmaltschi said that these are transformative times, and the world is day by day approaching the stage when each and every human being will be connected together. At that stage, further advancements and innovations in distributed technologies will enable open networks that will completely bypass the centralized authority. DTR’s prime focus will be to help the world reach this goal.
The foundation is funding a distributed collaboration of researchers from top US universities, in its quest to solve the technical challenges of blockchain scalability. The R&D group comprises of tenured professors with published papers in leading journals on the blockchain tech, award winners, patent holders, authors, and successful distributed technologies entrepreneurs. Each of them will bring their full potential and subject expertise to help the multi-disciplinary team focused on redesigning blockchains from scratch with a full-stack approach.