Ripple is set to offer $50 million to universities for crypto and blockchain research. The company has already signed 17 schools – including Korea University, University College of London and The University of Pennsylvania. In a move that seeks to support the workforce of the future.
This comes after the crypto giant donated $29 million to an American public school charity. The new initiative goes by the name University Blockchain Research Initiative (UBRI). The company has announced today that the initiative will involve academic research, innovation in the blockchain, technical development, cryptocurrency and payment systems.
The company has promised to provide expertise and technical resources whenever the Universities need it on the subject matter and has made it clear that it’s going to let the universities choose the areas they want to focus on.
Universities will also have to design curriculums of their own that are focused on the blockchain and cryptocurrencies. The goal is to encourage students in these institutions to carry out research in the distributed ledger technology.
Joshua Lind of Imperial College London who is a blockchain researcher says that the best result will be realized when all the involved parties work together. The industry experts, Academia, and the existing crypto and blockchain communities.
Another expert who is of similar opinion is Ripple’s SVP in charge of global operations who says:
“The University Blockchain Research Initiative is an acknowledgment of the vital importance of the unique role universities will play in advancing our understanding and application of cryptography and blockchain technology.”
“It also speaks to the reality that university graduates will fuel a continually evolving and maturing financial marketplace and workforce.”
The other UBRI participants include:
University of Oregon, UT Austin, Getulio Vargas in Brazil, University of Nicosia, University of Waterloo, UNC Chapel Hill, UC Berkeley, Delft University of Technology, MIT, Princeton University, Australian National University, University of Luxembourg, IIT Bombay, and IIIT Hyderabad.
It’s amazing that ripple has decided to offer $50 million for crypto and blockchain research. The fact that many top universities are involved in this project shows how much belief exists on the potential of cryptocurrencies and the blockchain technology.
Do we stand to witness some incredible innovations within the blockchain space now that higher learning institutions are involved? Share your thoughts in the comment section below.