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    Uncertainty Surrounds the Future of RMIT’s Blockchain Innovation Hub Amid Closure Rumors

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    The future of RMIT Blockchain Innovation Hub at an Australian university is unclear amidst rumors of its potential closure. While a Hub member stated the center was shut with no clear reason, the co-director denied closure confirmation. Insiders suggest the speculation originates from the facility’s inadequate high-quality research production. Acting out of a university’s reputation interest and securement of research funds, the final decision lies with RMIT’s Deputy Vice-Chancellor of Business.

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    There’s some drama happening over at a blockchain research center at an Australian university. Despite a rocking crypto market rally, the future of the center is uncertain. There’s buzz that the center’s been closed, but you know how rumors fly.

    Professor Ellie Rennie, a member of the RMIT Blockchain Innovation Hub, said in a recent online post that the center was shut down by RMIT – RMIT, by the way, is the uni running the show. She added that there was “no clear reason” why.

    But get this, her husband, Professor Jason Potts and the institute’s co-director, said to Cointelegraph that they’re still figuring things out and no final decisions had been made about closing it. Sounds like there are some mixed messages happening.

    According to RMIT’s process, they have to consult with staff for a week, meaning Potts needs to come up with a solution to fund the Hub if it’s to stay open. Some insiders said the research center isn’t producing enough high-quality research to secure enough funding to keep running.

    RMIT’s consideration to close the research center comes just when crypto has been making big waves in the mainstream. Even after Trump’s election win and his promise to revamp crypto rules in the US, bitcoin has soared 45% to nearly $100,000.

    Someone familiar with the matter said that Potts and co-founder Professor Chris Berg had referred to the Hub as an “experiment.” Potts reportedly said the Hub’s goal was to create a type of business school where academics were expected to be involved in the industry and entrepreneurial. Their priority was never about getting published in top-tier journals, which is essential for a university’s reputation and securing research funds.

    Finally, the decision to close or keep the Hub open will come down to the Deputy Vice-Chancellor of Business at RMIT, Professor Colin Picker.

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