Ripple has announced it’s setting aside millions of dollars to fund university based research on blockchain and cryptocurrencies. Based on A news statement published Monday, the University Blockchain Research Initiative will see the distributed ledger payments startup collaborate with 17 universities from across the world to boost academic research inside the industry. Ripple says it’ll put over $50 million, and also its own experience and technical resources, into financing the initiative’s first group of university partners. The institutions will be capable to set their research topics independently, in accordance with the announcement. The payments firm, which offers several blockchain based products that are seeing growing adoption within the banking and money transfer industries, aims as part of the effort to collaborate on R&D that will stimulate understanding and innovation around blockchain, and also to help set up new curriculums to open up the technology to students.
The initiative is already getting off the ground at some universities, with the Center for Information Technology Policy in Princeton creating a program to study the policy impact of cryptocurrencies and blockchain from the U.S. And globally. And, among others, UBRI is also participating in the Fintech initiative at MIT’s Computer Science and Artificial Intelligence Laboratory to work with researchers on subjects including locking, cryptoconversion, cybersecurity and international payments. Outside the U.S., 17 universities of the project include institutions in Australia, Brazil, Canada, Europe, India and South Korea. Students image via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.