Operator-algebraic renormalization and wavelets

We report on a rigorous operator-algebraic renormalization group scheme and construct the free field with a continuous action of translations as the scaling limit of Hamiltonian lattice systems using wavelet theory. A renormalization group step is determined by the scaling equation identifying lattice observables with the continuum field smeared by compactly supported wavelets. Causality follows from Lieb-Robinson bounds for harmonic lattice systems. The scheme is related with the multiscale entanglement renormalization ansatz and augments the semicontinuum limit of quantum systems