Public Ivy League school, University of Michigan (UM) just announced their participation in Ripple’s University Blockchain Research Initiative (UBRI).
The partnership entitles UM of $1 million grant, which will be used to encourage multidisciplinary curricula in fintech through their new facility, The Center for Smart Infrastructure Finance.
Quoting the official statement from the university, “The most important thing this funding allows us to do is to integrate the engineering and data science with finance and policy to craft financial models to fund infrastructure, developing models to close the infrastructure finance gap.”
The UBRI is developed by Ripple as an effort to support academic research, technical development, and innovation in blockchain, cryptocurrency, and digital payments, and is backed by a massive budget of $50 million to achieve its main goal.
Michigan has joined a number of universities, now numbering 11 in all, who have formed a partnership with Ripple under the scheme aimed at supporting academic research, technical development, and innovation in blockchain, cryptocurrency, and digital payments.
According to Bitcoin News, several universities worldwide have joined the initiative, including top universities, Princeton University, MIT and University College London (UCL).
The new center at UM, to be named The Center for Smart Infrastructure Finance, will support interdisciplinary initiatives along with the College of Engineering, Ross School of Business, Ford School of Public Policy, and the College of Literature, Science, and the Arts.
Senior vice president of global operations at Ripple, Eric van Miltenburg, sees such collaborations as a necessary step towards pushing blockchain technology forward. He commented.
“In less than a year, we are already seeing UBRI partners create new cross-disciplinary research programs and courses, as well as collaborate with one another to share ideas on how to grow the blockchain ecosystem,” said van Miltenburg.