The organization told reporters that the center was part of a partnership with the international trade organization Global Blockchain Business Council and subsidiaries of New York-based venture capital firm Future Perfect Ventures.
Located in the Flatiron District of Manhattan, this 4,000-square-foot center would provide education to the general public focused on blockchains, such as lecture programming courses for software developers.
Ana Arino, head of strategy at NYCEDC, told Bloomberg in a phone interview that the organization "was playing the game in the long run" in terms of potential blockchain technology and was looking to keep New York at the forefront of future development. Arino said:
"[Blockchain is] emerging technology, it is inevitable that this evolution will vary from year to year. Although we do not know what the future holds, we want to make sure we can sit at the table to shape it. "
The city would have paid a "one-time initial investment of $ 100,000". Bloomberg announced that the organization would seek to raise additional funds through dues and business partners, which already include Microsoft Corp. and International Business Machines Corp.
According to Bloomberg, the city plans to test the use of blockchain technology this fall.
NYCEDC First President ad plans to open a resource and education center focused on block chains in the city in May.
This month, a member of the Legislative Assembly of the State of New York ad that New York had become the first United States to establish a cryptocurrency working group to study the regulation, use and definition of digital money.