China’s co-working space start-up Ucommune has announced the establishment of its first blockchain research lab, with an inauguration ceremony held in Beijing today. Ucommune is initiating a blockchain platform for other community members to build their blockchain solutions upon. It will also create innovative blockchain solutions for co-working spaces on the blockchain platform. "Our foray into blockchain reflects Ucommune’s commitment to providing decentralised and trusted services to our growing and diversifying community member base. The new lab will conduct in-depth research on blockchain application for coworking and develop a whitepaper that sets the industry benchmark. We are also leveraging blockchain for custom-made solutions to better serve our millennial members," says Ma Zhiyu, founder and CEO of the Ucommune Blockchain Lab. Ma has decades of experiences in IT software developments. Ucommune’s CTO, Xu Binchao will partner with Ma on the blockchain development. With over 15 years of technology development experiences, Xu specializes in product design and application of new technology. "Ucommune Blockchain Lab aims to enable and empower a trust-based virtual network that helps businesses of varied sizes to collaborate, source and trade efficiently and transparently. Drawing on our technological know-how and expertise, we are on track to connect enterprises across the entire value chain to form a smart contract platform that all member companies can build their sub-chains upon," said Xu. With the merger of Woo Space, Wedo, New Space and Workingdom earlier this year, Ucommune has presence in 160 locations from 36 cities globally. It serves 120,000 individual members and 7000 corporate members with a total space of 400,000 square metres. Yimian Wu is a staff researcher at China Money Network.
Chinese co-working company Ucommune has unveiled a blockchain research lab, marking its first move into the blockchain sector. The lab will create a platform to be used by its community members for building blockchain solutions. According to an announcement on the company’s website, the new facility is located in Hangzhou, Zhejiang province, and it aims at creating “world-class research” that can help companies build their own blockchain-based products.