Ripple is funding 11 prestigious universities and colleges across the world to lead academic research and development in blockchain technology and crypto in general.
Some of the most highly regarded and ranked universities in the likes of Cornell University, Duke University, Tsinghua University, and the National University of Singapore have been added to University Blockchain Research Initiative (UBRI) this week.
Why is Ripple Spending Millions For Crypto and Blockchain Academia?
In an official statement, Ripple Global Operations SVP Eric van Miltenberg said that following the initial launch of the University Blockchain Research Initiative in 2018, a wave of research projects, events, and course offerings have emerged.
“In less than a year, our initial UBRI partners hit the ground running with the launch of new research projects, events, course offerings and more. Expanding the ecosystem to a more global, diversified network of UBRI partners will only continue to enrich these projects,” Miltenberg said.
In June 2018, when UBRI was first introduced by Ripple, the company revealed that more than $50 million are being allocated to top universities to accelerate the research around blockchain technology.
— Ripple (@Ripple) June 4, 2018
The program has encouraged top-tier universities such as Berkeley to become increasingly pro-active in blockchain research and development.
According to Laura Tyson, the Faculty Director at Berkeley Haas Blockchain Initiative, the institution has been conducting events, research, and various studies around cryptocurrencies and digital payments.
“We are excited by the momentum that the Ripple UBRI Partnership has fostered at Berkeley Haas and throughout UC Berkeley in the development of blockchain, digital payments and cryptocurrency-related research and innovation.
In December, we awarded the first round of Ripple-funded faculty and student blockchain, digital payments and cryptocurrency-focused research grants. Also, we are sponsoring numerous student-led activities this semester, including partnering with Blockchain at Berkeley to host a blockchain/fintech industry Spring speaker series at Haas.”
The efforts of Ripple throughout the past year have enabled universities and colleges to provide student grants to explore the cryptocurrency space, providing an environment for young talent to research and study the newly emerging technology.
Positive For Bringing New Talent Into Blockchain Sector
Last month, Spencer Bogart, a partner at a cryptocurrency-focused venture capital company Blockchain Capital, said on Bloomberg TV that he is optimistic in the inflow of talent in the cryptocurrency sector.
A growing number of developers, researchers, analysts, traders, and security experts from various industries such as finance and technology have come into the digital asset sector throughout the past several years.
“Most encouraging thing is the quality of the talent we’re seeing entering the space. If you talk to young people, this has captured their imagination. A lot of the brightest are saying I want to go work on Bitcoin,” Spencer said.
As educational institutions continue to encourage student-led initiatives and research around blockchain technology and cryptocurrencies, more young talent could enter the cryptocurrency sector in the long-term.
In countries like South Korea and Japan, government agencies are encouraging millennials to contribute to the blockchain sector with educational programs and student grants in cooperation with blockchain companies.