Blockchain

Ripple Announces $50 Million Blockchain Research Initiative

John McMahon | June 5, 2018 | 8:00 am
ripple blockchain
Blockchain

Ripple Announces $50 Million Blockchain Research Initiative

John McMahon | June 5, 2018 | 8:00 am

Ripple to partner with universities in order to encourage the development of an ever more robust and valuable ecosystem according to Insights, the companies blog.

Ripple to Contribute $50 Million to Universities

The company states that as one of the most mature entities in the space Ripple is uniquely situated to act as a partner with academic institutions to lead blockchain development projects. That is why it has started the University Blockchain Research Initiative (UBRI) to support research and technical developments in the fields of blockchain, cryptocurrency and payment systems.

According to the company, 17 prestigious schools around the world have been chosen for their first wave of funding. The company is committing $50 million as well as their technical resources and collective expertise in the space but the schools will determine their own areas of research while working with Ripple to:

  • Collaborate on research and technical development that will stimulate widespread understanding and innovation in blockchain.
  • Create new curriculum to meet high student demand for learning about blockchain, cryptocurrency and other FinTech topics.
  • Stimulate ideas and dialog among students, faculty, technologists and business leaders on topics of shared interest.

Ripple has listed the seventeen institutions chosen on their blog and has gone on to flesh out some of the details of the individual partnerships. For instance, Princeton University is creating a UBRI program to study the impact of cryptocurrency and blockchain in the US and internationally through their center for Information Technology Policy (CITP).

Massachusetts Institute of Technology’s Computer Science and Artificial Intelligence Lab will partner with UBRI along with almost a dozen companies in the financial services industry to perform research on the blockchain, cryptocurrencies, cybersecurity and global payments.

Internationally UBRI will contribute to the University of Luxembourg and Delft University of Technology in the Netherlands new Blockchain research program to be part of their individual Departments of Computer Science and Engineering.

An investment in the future

The announcement ends with a statement that claims universities to be the traditional “backbone of innovation” and that they uniquely offer an environment for independence and rigor in research that the private sector cannot. The company claims that by supporting the research and study of blockchain and cryptocurrency at universities around the world they are preparing the workforce who will provide the talent to solve the difficult problems to come in the future.

Ripple’s announcement comes as universities around the world struggle to keep up with student demand for courses in cryptocurrency and blockchain related fields. As the space and technology develop teachers who themselves are learning at the same curve are forced to improvise syllabus and often put together resources with little funding or from their own pocket.

 

Image from Shutterstock
Tags: , , , ,

NewsBTC is a news service that covers bitcoin news, technical analysis & forecasts for bitcoin and other altcoins. Here at NewsBTC, we are dedicated to enlightening people all around the world about bitcoin and other cryptocurrencies. We cover news related to bitcoin exchanges, bitcoin mining and price forecasts for various virtual currencies.

Get the app

Featuring live charts, price analysis, breaking news, currency converter and more. The only bitcoin app you need!

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.