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Citi Collaborates With Cornell Tech For Blockchain R&D



De Silva

Citi has announced a partnership with Cornell Tech, the graduate engineering school of Cornell University. A group of approximately 70 Citi employees will work alongside researchers and students to develop emerging technologies, including blockchain.

On July 24, 2017, Citigroup Inc. (Citi) released details of its forthcoming collaboration with Cornell Tech. Citi will lease 10,900 square feet in The Bridge at Cornell Tech, an innovative space that brings together students, faculty, and companies. Starting in the first quarter of 2018, Citi will assign 70 to 80 employees to the site, where they will work alongside students and entrepreneurs to cultivate emerging technologies, including blockchain.

"Co-locating in The Bridge with companies, entrepreneurs and students will create an energized environment that fosters innovation and enables interaction with a wide range of emerging talent," said Citi's head of operations and technology, Don Callahan. "As a firm headquartered in New York City, we are excited to be a part of this initiative with Cornell Tech that will develop and strengthen the City's technology talent and industry."

Through their coursework, students will develop real-world solutions for Citi clients and customers. The Citi-Cornell partnership will also facilitate incubators and hackathons as well as support Women in Technology and Entrepreneurship in New York.

Speaking with ETHNews, Emin Gün Sirer, co-director of The Initiative for CryptoCurrencies & Contracts, expressed jubilation.

"We are thrilled about our nascent partnership with Citi," said Sirer. "This represents a new chapter in the evolution of blockchains, when the incumbents see the blockchain value proposition and start to build new infrastructure using cutting edge technology. We are proud to be working with Citi as we all explore this new and promising space."

ETHNews will continue to update this story as more information becomes available.

Matthew De Silva

Matthew has a passion for law and technology. He graduated from Georgetown University, where he studied international economics and music. Matthew enjoys biking and listening to tech podcasts. He lives in Los Angeles.

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