Ripple Pumps $50 Million Into Academic Research on Blockchain

Ripple is setting aside millions of dollars to fund university-based research into blockchain, cryptocurrency and digital payments.

Jun 4, 2018 at 2:45 p.m. UTC
Updated Sep 13, 2021 at 8:01 a.m. UTC

Ripple has announced it is setting aside millions of dollars to fund university-based research into blockchain and cryptocurrencies.

According to a news announcement published Monday, the University Blockchain Research Initiative (UBRI) will see the distributed ledger payments startup collaborate with 17 universities from across the globe to boost academic research within the industry.

Ripple says it will put over $50 million, as well as its own expertise and "technical resources," into funding the initiative's first group of university partners. The institutions will be able to set their research topics independently, according to 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 at Princeton creating a program to study the policy impact of cryptocurrencies and blockchain in the U.S. and globally.

And, among others, UBRI is also participating in a fintech initiative at MIT's Computer Science and Artificial Intelligence Lab to work with researchers on topics including blockchain, cryptocurrencies, cybersecurity and international payments.

Outside the U.S., the project's 17 universities include institutions in Australia, Brazil, Canada, Europe, India and South Korea.

Students image via Shutterstock

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, 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. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
After the Terra Meltdown: What's Next for Stablecoins?

The largest token collapse in crypto history. So let Luna die.

The largest token collapse in crypto history. So let Luna die.

CoinDesk - Unknown
2
CoinDesk - Unknown
5 Key Takeaways From a16z's State of Crypto Report

The venture firm is extremely bullish on Web 3.

The venture firm is extremely bullish on Web 3.

CoinDesk - Unknown
3
CoinDesk - Unknown
Regulators Are Paying Attention to UST

The collapse of terraUSD (UST) is algorithmic stablecoins’ Libra moment.

The collapse of terraUSD (UST) is algorithmic stablecoins’ Libra moment.

CoinDesk - Unknown
4
CoinDesk - Unknown
San Francisco NFL Player Alex Barrett Taking His Salary in Bitcoin

The most valuable crypto stories for Thursday, May 20, 2022.

The most valuable crypto stories for Thursday, May 20, 2022.

CoinDesk - Unknown