Ripple to fund $50M University Blockchain Research Initiative
Ripple is launching a $50 million initiative to support academic research and innovation in the blockchain space. This initiative will support 17 academic institutions around the world, including MIT, Princeton, the University of Pennsylvania and the University of North Carolina Kenan-Flagler Business School, according to a press release.
Each institution will establish its own research topics and areas of focus. Ripple will work with the universities to offer expertise and resources on the selected topics.
"Academia has traditionally been a critical driver of technical innovation. The University Blockchain Research Initiative is an acknowledgment of the vital importance of the unique role universities will play in advancing our understanding and application of cryptography and blockchain technology," Eric van Miltenburg, senior vice president of global operations at Ripple, said in the release.