Ripple Donates $50 Million to Universities Including Princeton, MIT to Accelerate Blockchain Adoption

The countless number of innovations in the blockchain sector have been coming in the headlines and also been materializing at a smooth pace. But it seems this is too slow for startup Ripple. Ripple has donated $50 million to top 17 universities in the world in order to kick developments in blockchain and cryptocurrency to high gear. The hope is that with enough funding, researchers will be able to boost the adoption of the network and make it much faster.

Among the universities, we can find the University of North Carolina, the University of Pennsylvania, and a research institute at MIT (Massachusetts Institute of Technology). The complete list of universities goes as follows,

1. Princeton University (Center for Information Technology Policy)
2. MIT (Computer Science and Artificial Intelligence Laboratory)
3. University of Pennsylvania (Wharton School)
4. Indian Institute of Technology Bombay
5. Australian National University College of the Law
6. Delft University of Technology (Netherlands)
7. Fundação Getulio Vargas (Brazil)
8. University of California, Berkeley (Haas School of Business)
9. International Institute of Information Technology, Hyderabad (IIIT-H)
10. Korea University
11. University of Texas at Austin (McCombs School of Business)
12. University of North Carolina at Chapel Hill
13. University College London
14. University of Luxembourg
15. University of Nicosia (Cyprus)
16. University of Oregon
17. University of Waterloo (Canada)

Under the name of “University Blockchain Research Initiative,” Ripple has created a program that seeks to boost the adoption of the blockchain technologies. It’s worth noting that the donations will be given out in actual US dollars and not via the cryptocurrency that Ripple is offering. The company announced,

“We’re excited to announce the University Blockchain Research Initiative (UBRI), a collaboration with top universities around the world to support and accelerate academic research, technical development, and innovation in blockchain, cryptocurrency, and digital payments,”

 

The company tells about the significance of tying up with educational institutes and how it may impact the blockchain adoption.

“As the traditional backbone of innovation, universities uniquely offer an independence and rigor that the private sector cannot. They also are responsible for training the workforce of the future, helping to address the demand for technological solutions and talent to solve the world’s hardest financial problems,”

Ripple possesses its very own cryptocurrency dubbed XRP, a coin that currently is ranked as the number 3 of the market by the market capitalization tracker site Coinmarketcap. Although the primary purpose of the program is not to enhance the usage or performance of the digital coin of Ripple, the company specified that some universities involved in the study would use the products of Ripple and most likely the XRP token.

With the company citing the sharp increase in demand for jobs with the word “blockchain” attached to the postings, it only makes sense that an appropriate boost in the number of skilled workers should accompany the trend.

KryptoMoney.com publishes latest news and updates about Bitcoin, Blockchain Technology ,Cryptocurrencies and upcoming ICO’s.