Ripple, the company behind the XRP token’s native protocol, has announced a $50 million investment to fund what is called the University Blockchain Research Initiative – a collaborative effort formed by Ripple in partnership with 17 universities from around the world, including top colleges from the United States, Brazil, Netherlands, Korea, Cypress, and more.
Ripple will be using the $50 million investment to fund “innovation”, technical development, and academic research projects of the university’s choosing, that is focused on “blockchain, cryptocurrency and digital payments.”
Ripple explained the motivation behind the initiative in a statement on their website:
“Interest in blockchain is soaring, with a groundswell of activity taking place on the campuses of the world’s top universities. From new business use cases — such as making cross-border payments faster, lower cost and more transparent — to uses of blockchain for good, students and faculty globally are emerging as major contributors to the creation of a more robust and valuable blockchain and payments ecosystem… As one of the most mature companies in the space, Ripple is uniquely suited to partner with the academic community and help lead development of this ecosystem.”
The University Blockchain Research Initiative list of partners includes:
- Australian National University College of the Law
- CITP at Princeton
- CSAIL at MIT
- Delft University of Technology (Netherlands)
- Fundação Getulio Vargas (Brazil)
- Haas School of Business, University of California, Berkeley
- IIT Bombay
- International Institute of Information Technology, Hyderabad (IIIT-H)
- Korea University
- McCombs School of Business, UT-Austin
- The University of North Carolina at Chapel Hill
- The University of Pennsylvania
- UCL (University College London)
- University of Luxembourg
- University of Nicosia (Cyprus)
- University of Oregon
- University of Waterloo
Ripple’s investment will fund important research that not only drives Ripple, but blockchain as a technology, forward.
Ripple, as part of their company ethos, aim to have a positive impact on both the crypto space and the world. In addition to funding this research initiative, Ripple also donated $29 million in XRP tokens to the DonorsChoose charity to purchase supplies for school programs across the United States. Most recently, Ripple made a donation on the Ellen DeGeneres show through Ashton Kutcher, to fund additional efforts through the Ellen DeGeneres Wildlife Fund.