Cloud computing company Salesforce is among 12 new members to the Blockchain Research Institute (BRI), the multi-million dollar global blockchain think tank announced on Tuesday.

Devoted to the study of blockchain strategies, applications and obstacles to implementation, the Institute already boasts the membership of government entities, major tech companies, financial industry players and global corporations such as Microsoft, IBM, the Bank of Canada and PepsiCo.

"As with other disruptive technologies, blockchain requires deep study from a variety of perspectives to understand its broader implications," Peter Schwartz, senior vice president of strategic planning at Salesforce, said in a statement.

Other new members include Austrian banking group Raiffeisen Bank International, Switzerland-based BPC Banking Technologies, brand manager VIKTRE and public relations firm Navigator Limited. Blockchain startups Aion, Decental, Polymath, Shyft Network and Sweetbridge have also joined the Institute.

Institute co-founder and executive chairman Don Tapscott explained:

Founded in 2017, BRI announced in February that it was partnering with India's National Association of Software and Services Companies (NASSCOM), one of the country's leading tech organizations, to promote the digital economy.

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