Ripple Launches $50M Fund to Support Blockchain Research in 17 Universities

Published on 04 June 2018 by Cryptovest Staff

Ripple announced the launch of University Blockchain Research Initiative, a $50 million fund that will support 17 universities in their blockchain research programs.

Ripple, the company behind the third largest cryptocurrency by market cap, said that it launched a new $50 million fund to support university research into emerging technologies like blockchain and cryptocurrency. The fund has been created in partnership with 17 reputable universities from across the world including Princeton, the Massachusetts Institute of Technology (MIT), University College London, the Australian National University, and higher education institutions in Brazil, India, Netherlands, South Korea, Cyprus, and Luxembourg.

Under the new project, the universities will be able to use financial resources from the fund called University Blockchain Research Initiative (UBRI).

The members will define research topics and priorities at their will. According to the announcement, the universities will work with Ripple to achieve the following:

Work on research and development: that would support a deeper understanding of blockchain and would