It’s been a year since the Surry Bay Community College (SBCC) announced its plans to invest more than $3 million in blockchain startups.
It’s an impressive number, and not only because the bank is also the recipient of a grant from the MIT-affiliated MIT Center for Machine Learning.
The announcement came at a time when blockchain technology was becoming a major topic of conversation in finance.
The Surry Community College board has previously announced that it would use blockchain technology to reduce administrative costs, and recently launched a new digital currency called Ethereum.
SBCC will also use its investment to help its community to address its own community problems and improve its own infrastructure.
The new investments come amid the broader financial crisis, and as many banks are seeking to use blockchain to better manage their business.
The new investments will help SBCC to “improve its infrastructure to be able to continue to innovate and to help our community move forward,” according to a statement released by the bank.
“This investment is part of our efforts to help Surry County in its efforts to improve its economy.”
This story is part one of a two-part series.
Read part two.
Read part three.
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