Ripple donates $50 million to universities for blockchain research

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The Ripple payment network will donate $50 million to 17 universities around the world to increase acceptance of the blockchain and to impart technology research.

On June 4, Ripple announced the launch of the University Blockchain Research Initiative (UBRI), within which the company will make donations in US dollars to educational institutions conducting their own research in the field of blockchain and digital assets.

“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 San Francisco-based company said.

The goals of UBRI will be to deepen the understanding of the blockchain and stimulate innovation in this area, as well as the development of training courses and programs to raise students’ awareness of blockchain, digital currencies, and financial technologies.

As expected, the project participants will be able to determine the topics of the research themselves and receive funding from the fund for their conduct.

«UBRI – is the recognition of the extraordinary significance of the unique role of educational institutions, which they will play in improving the understanding and applicability of cryptography and blockchain technolog”, – said senior vice president of international operations Ripple, Eric van Miltenburg.

Also, a group of leading Chinese universities is planning to create a decentralized autonomous organization (DAO) to make educational resources more accessible. The initiative of the Youth Education Chain League (YEC League) will be attended by the Beijing and Zhejiang universities, as well as the Tsinghua University.