One of the well known universities in the world Stanford has launched a Blockchain Research Center. It has gained support by the Ethereum Foundation as stated on the Stanford Engineering website.

This center was established with the intent to research the blockchain technologies capabilities of how it can improve and transform the traditional business interactions.

Vitalik Buterin the famous co-founder of Ethereum, had released a statement in a tweet regarding his personal and the Foundation’s support for this new found blockchain initiative.

Stanford’s research center has also gained contributions from Protocol Labs, the Interchain Foundation, OmiseGo crypto exchange, DFINITY Stiftung and PolyChain Capital.

It would be led by Dan Boneh and David Mazieres, two professors with specializations in blockchain and cryptocurrencies. Their plan is to develop best practices for the blockchain and bring together the university scientists and the industry’s leaders. It will also include development of courses on blockchain implementation, for its role in the financial sector, data management and many other spheres.

The cryptography and computer security expert and one of the leaders of this project Dan Boneh has stated:

“Stanford should be at the forefront of efforts to improve, apply and understand the many ripple effects of this technology. Once you get into the details you quickly realize that this area will generate many PhD thesis across all of computer science and beyond.”

Education about the blockchain technology has been offered to many other universities throughout the world like the Australian research university that launched a blockchain course in earlier this year in February.