'We are playing the long game:' New York sticks with plan to open Blockchain Center

New York is sticking with plans to open a center for crypto and blockchain technology. The so-called Blockchain Center, which opens during a difficult time for crypto asset prices and companies in the market, is based in Manhattan and will collaborate with venture capital investors and other firms on blockchain initiatives, according to a Bloomberg News report. It opens Thursday. 

“We are playing the long game,” Ana Arino, chief strategy officer at the EDC, said in a phone interview with Bloomberg's crypto watcher Olga Kharif. “It’s a nascent technology, so there’s bound to be uncertainty around this evolution from year to year. While we don’t know what the future holds, we want to make sure we have a seat at the table shaping it.”

New York City is funding the center with a one-time $100,000 investment. It will also fund itself through membership dues. It plans to offer coding classes to the public, according to Bloomberg. 

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Frank Chaparro covers the intersection of financial markets and cryptocurrency as Editor-at-Large. Since joining the publication in 2018 as its first reporter, he has played a key role in building The Block into a leader in financial journalism and research. He leads special projects, including The Block's flagship podcast, The Scoop. Prior to The Block, he held roles at Business Insider, NPR, and Nasdaq. For inquiries or tips, email [email protected]