Ripple announces that it launches the University Blockchain Research Initiative (UBRI) in which 17 top universities around the world will collaborate to boost academic research within the blockchain space, according to a press release published on June 4.
The partnership aims to “support and accelerate academic research, technical development and innovation in blockchain, cryptocurrency and digital payments.”
Ripple will invest more than $50 million in the project as well as its “technical expertise” and each university will be able to choose their research topic independently.
Ripple now offers many different blockchain-based products that are being adopted by many financial institutions for cross-border payments and transfers. This money invested in R&D seeks the collaboration “on research and technical development that will stimulate widespread understanding and innovation in blockchain.”
This initiative also aims to “create new curriculum to meet high student demand for learning about blockchain, cryptocurrency and other FinTech topics, and “stimulate ideas and dialog among students, faculty, technologists and business leaders on topics of shared interest.”
The 17 academic institutions are located in the US, Australia, Brazil, Canada, Europe, India and South Korea.
Some universities already took some initiatives concerning the global project such as Princeton University where its Center for Information Technology Policy (CITP) created a UBRI program aiming to study “the policy impact of cryptocurrencies and blockchain in the U.S. and around the world.”