RMIT's Blockchain Innovation Hub is undergoing significant restructuring, transitioning into a part-time research group under the finance school starting in 2025.
This decision has raised concerns among staff and stakeholders, as it signifies a shift away from dedicated blockchain research at the institution. The restructuring aims to support student learning while allowing for continued research, albeit in a less formal capacity. However, staff members are disappointed with the change, fearing a decline in the quality and focus of research efforts.
The Hub has faced challenges in securing funding and maintaining research standards, leading to concerns about its sustainability. The timing of the restructuring is notable, considering the recent resurgence of interest in cryptocurrencies. The fate of specialized research centers like the Blockchain Hub may be at risk as universities prioritize resources and research focus.
This downsizing decision raises concerns about Australia's ability to compete in the global blockchain landscape. The future of blockchain research and innovation in Australia may depend on institutions' ability to adapt and thrive in this evolving environment.