Ripple promises $50m to universities for blockchain research

Ripple promises $50m to universities for blockchain research

Ripple is promising to pump $50 million into a blockchain research initiative with a host of top universities from around the world.

The company has signed up 17 schools - including The University of Pennsylvania, University College London, and Korea University - to the initiative, as it seeks to "support the workforce of the future".

The funding will back academic research, technical development and innovation in blockchain, cryptocurrency and digital payments.

Ripple says that each university will determine its own research topics and areas of focus, with the firm contributing not only money but subject matter expertise and technical resources.

Eric van Miltenburg, SVP, global operations, Ripple, says: "The University Blockchain Research Initiative is an acknowledgment of the vital importance of the unique role universities will play in advancing our understanding and application of cryptography and blockchain technology.

"It also speaks to the reality that university graduates will fuel a continually evolving and maturing financial marketplace and workforce."

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