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UNLV professor breaks down research on blockchain, new cryptocurrency technology

LAS VEGAS - As the world begins to learn about blockchain, a local professor is up to speed because he's been doing research on the new technology for about two years.

For the second time in a matter of two weeks, Las Vegas is hosting a digital currency convention.  A lot of the focus at World Crypto Con has been on blockchain.  The new technology is the backbone of cryptocurrencies like bitcoin.

Among the exhibitors is a computer science professor at UNLV by the name of Yoohwan Kim.

"We are doing some research in the blockchain," Kim said.

Kim's background is in, and for the past couple of years, he's been researching blockchain.

"Actually, blockchain is the main thing that we are interested because blockchain has great potential," Kim said.  "They can change our society." 

He wants to find solutions to problems with using this new technology including scalability and speed.

"Right now bitcoin Ethereum they can make a transaction maybe two to three, maybe five transactions per second that's too slow so my research is about the changing that perspective," said Kim.

Regulating blockchain has also been met with mix reaction.

"While people are sort of booing speakers, sometimes they are talking about regulating the industry," Stewart Rogers, an analyst with VentureBeat said. "I actually think that needs to happen.  We're already seeing some regulations coming to force in the United States the FCC, they're getting involved in, and they're putting their thing in, in different countries." 

People like Rogers can only try to predict the future of blockchain, but it's catching the attention of technology experts who believe it may become mainstream.

"Blockchain can give you trust between a lot of people," Kim said.

Companies around the world are already using blockchain.  The brewing company, Anheuser-Busch, started using the technology a few months ago.
 


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