Ripple, a cryptocurrency and payments start-up, announced a $50 million funding to 17 universities around the world, aiming to boost research in blockchain, cryptocurrency and digital payments.
Ripple's University Blockchain Research Initiative or UBRI will collaborate with universities including MIT, the University of North Carolina, and the University of Pennsylvania, among others, to support and accelerate academic research, technical development and innovation.
CNBC reported, quoting Ripple, that the initiative reflects a surge in demand for jobs related to blockchain/ cryptocurrency.
According to the company, students and faculty globally are becoming major contributors to the creation of a more robust and valuable blockchain and payments ecosystem.
The selected 17 institutions will determine their own research topics and priority areas of focus. They will also partner with Ripple to join on research to stimulate blockchain innovation, and to create new curriculum for learning about blockchain, cryptocurrency and other FinTech topics.
With UBRI, Princeton University is creating a program to study the policy impact of cryptocurrencies and blockchain in the U.S. and around the world. In the University of Pennsylvania, UBRI is supporting select students, prioritizing those working on blockchain or cryptocurrency.
Ripple is also participating in MIT Computer Science and Artificial Intelligence Lab's new FinTech initiative.
In Europe, UBRI helps Delft University of Technology in the Netherlands and the University of Luxembourg to build a new blockchain research program.
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