Ripple Commits $50Mn For Their University Blockchain Research Initiative

The company with the Third largest Cryptocurrency Ripple recently announced about their new University Blockchain Research Initiative (UBRI) to which they will be committing $50 Million.

There has been a huge amount of money being invested into development and research space in the Cryptocurrency and Blockchain space, Ripple has now joined the academic community by investing in the research initiative in this soaring industry.

This money will go into the universities that Ripple has partnered with towards academic research and technical development in Blockchain, Cryptocurrency and Digital Payments.

Initially Ripple is partnering with 17 Universities across the globe which includes prestigious institutions like MIT, Princeton, Stanford and University of London. IIT Bombay which is one of the most prestigious institutes in India is also a part of the list.

Eric van Miltenburg, SVP of Ripple told Business Insider:

Academia has traditionally been a critical driver of technical innovation. The University Blockchain Research Initiative is an acknowledgement 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 topics that will be studied by different universities are:

• Impact of policies on Cryptocurrencies and Blockchain by Center of Information Technology Policy (CITP) at Princeton University
• Blockchain, Cryptocurrencies, Cyber Security and global payments by CSAIL at MIT
• Blockchain research in the computer science department of University of Luxembourg and Delft University of Technology in Netherlands

Money seems to be poring into the industry for faster growth of the technology and Ripple seems to be allocating capital into initiatives that will help accelerate their growth . Recently they donated $4 Million to a cause initiated by Ellen Degeneres and were featured on the Ellen show.

Ripple Tweeted:

We’re committing $50M to top, global universities to further #blockchain research, tech and talent for our new University Blockchain Research Initiative! https://t.co/G70YxFAZlj

— Ripple (@Ripple) June 4, 2018

Source: Ripple

Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.