In an effort to accelerate growth in blockchain and encryption, Ripple, the well-known payment processor behind the world’s third largest currency, is set to spend more than $ 50 million in universities around the world. The project aims to increase academic research and blockchain-related university curricula.
In particular, Ripple has announced that it will donate these funds to around 17 universities around the world, including Princeton, MIT, IIT Bombay, Korea University, and University College London.
The partnership that is being set up is called the University Blockchain Research Initiative and in its framework Ripple stated that universities will decide on the research topics of their choice. Princeton, for example, creates a program to understand the impact of blockchain and encryption on a policy level.
Ripple implied that this is only the beginning, as the company’s press release states that funding $ 50 million in 17 universities is “the first wave of university partnerships.”
Funding comes at a time when universities are seeking to keep up with the development of blockchain and cryptography. Academic institutions such as Stanford have added curriculums related to cryptos in the curriculum, while others such as Oxford University offer industry-focused and market-focused programs.