Ripple recently announced about an initiative which is called University Blockchain Research Initiative (UBRI). The project aims at launching collaboration with top universities around the world for development of blockchain technology.
The main objective of the initiative is to support and accelerate academic research in order to increase technical development and innovation in the blockchain sector. The initiative also covers research on cryptocurrency and digital payments.
The recent announcement also informed about the contribution by Ripple which was worth $50 million in funding the initiative of UBRI. The funding is dedicated to subject matter expertise and technical resources that will be involved in successful development of the project.
It was also reported that 17 prestigious educational institutions from all around the world already received the funding. In addition the involved institutions were reportedly free to determine their own research topics and priority areas to focus on.
The involved professionals and institutions will be working closely with Ripple in order to develop and disseminate information about blockchain. The program will also aim to create new curriculum which will meet the students’ demand to learn about blockchain, cryptocurrency, and financial technology topics in the academic institutions.
There will be also a communication channel established which will stimulate exchange of ideas by the field professionals. Students, faculty, technologists, and business leaders will expectedly be able to talk on topics of shared interest on this channel.
“The initial UBRI partners represent a broad cross-section of geographies and markets, as well as a rich blend of academic disciplines… As the traditional backbone of innovation, universities uniquely offer an independence and rigor that the private sector cannot. They also are responsible for training the workforce of the future, helping to address the demand for technological solutions and talent to solve the world’s hardest financial problems”, stated the announcement.