Interest in blockchain has soared within university research centers globally and now Ripple is collaborating with universities for blockchain research.
Various universities around the world are emerging as important contributors to the development of blockchain technology. For instance, they are coming up with new solutions for cross-border payments, lower costs, and increased transparency.
Why Ripple Is Uniquely Qualified
Ripple is one of the main companies in the crypto space. It thus has the resources to collaborate with universities and help lead in developing these technologies. To foster this collaboration, Ripple have launched the University Blockchain Research Initiative. This will let Ripple work with some of the largest universities globally to accelerate research into the blockchain.
Details of the Ripple Collaboration Project
For this project, Ripple will offer more than $50 million in funding. It will also provide technical resources to the first 17 prestigious institutions globally. The schools will be free to pick which areas they will prioritize.
For instance, as the conversation on regulation is ongoing, the Center for Information Technology Policy at Princeton is working with UBRI to study the policy impact of crypto in the US and globally.
- At the University of Pennsylvania, select MBA-MS candidates are picked each year in a new dual-degree program. This funding will prioritize the students researching crypto and blockchain.
- Additionally, UBRI is working with the MIT Computer Science and Lab Fintech initiative. This initiative comprises of over a dozen Fintech companies that work with researchers on topics such as payment methods, blockchain and crypto.
- In Europe, UBRI is working with the Delft University of Technology in the Netherlands and the University of Luxembourg. They are creating new blockchain research programs in their respective Departments of Computer Science and Engineering.
Universities have always been the backbone of research and innovation. They have the unique opportunity to offer the kind of rigor that the private sector can simply not afford. Besides that, they are an important tool for training future workers on the blockchain ecosystem.
They will help to address the demand for solutions and talent that is needed to solve some of the most pressing issues in the financial sector. Ripple believes that this is the most opportune time to support blockchain research in universities if the blockchain ecosystem is to have a future.
Others Are Already Doing It
Ripple is not the first company to see the potential that universities hold. Charles Hoskinson, who was crucial in the development of Ethereum, committed $1 million last year to set up blockchain labs at the Tokyo Institute of Technology and the University of Edinburgh.
Both of these instances show that the crypto space is still in the early stages of development. This is despite the attempt by many businesses to create a commercial product based on this technology.
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