Ripple, the blockchain-based payment network, will donate US $ 50 million to 17 universities around the world to promote the adoption of blockchain, the technology that underpins Bitcoins.
Ripple announced the association, called the University's Blockchain Research Initiative, on its website on June 4. The company said its donations will be made in US dollars, not in cryptocurrencies.
"We are excited to announce the Blockchain University Research Initiative (UBRI), a collaboration with leading universities around the world to support and accelerate academic research, technical development and innovation in Blockchain, cryptocurrencies and digital payments"
Interest in Blockchain peaks
Ripple said interest in blockchain is soaring as people are beginning to discover the potential of distributed accounting technology to change the game.
"From new business use cases - such as making cross-border payments faster, lower cost and more transparent - to the uses of blockchain forever, students and teachers around the world are emerging as major contributors to the creation of a block chain more robust and valuable and payment ecosystem, "said the company.
Here is the complete list of the 17 universities where Ripple is investing:
Princeton University (Center for Information Technology Policy)
MIT (Laboratory of Computer Science and Artificial Intelligence)
University of Pennsylvania (Wharton School)
Indian Institute of Technology of Bombay
Australian National University College of the Law
University of Technology, Delft, The Netherlands
Fundação Getulio Vargas (Brazil)
University of California, Berkeley (Haas School of Business)
International Institute of Information Technology, Hyderabad (IIIT-H)
University of Korea
University of Texas at Austin (McCombs School of Business)
University of North Carolina at Chapel Hill
University College London
University of Luxembourg
University of Nicosia (Cyprus)
University of Oregon
University of Waterloo (Canada)
Ripple is showing the world how secure it is in Blockchain's future by putting its money where its mouth is. In April 2018, the company invested US $ 25 million of its XRP cryptocurrency in Blockchain Capital Parallel IV, a US $ 150 million fund that will invest in Blockchain companies, as reported by CCN.
Ripple has also used its flourishing cryptographic wealth for good social causes. Two weeks ago, Ripple partnered with actor Ashton Kutcher to donate $ 4 million in XRP to the Ellen DeGeneres Wildlife Fund, which helps endangered species. Kutcher, an investor in Ripple, is a Bitcoin bull for a long time.
Meanwhile, Blockchain continues to generate headlines for its versatility. The retail giant Walmart recently filed a patent for a digital market based on Blockchain.
Signet Jewelers, the world's largest diamond jewelry retailer, recently joined a diamond blockchain program being developed by South African gems giant De Beers Group.
Even crypto-skeptics adopt Blockchain
Even self-confessed cryptocurrency skeptics have admitted that the blockchain could transform healthcare, banking, supply chain management and the entertainment industry. That's why even Old Money as the Rockefeller family is investing in Blockchain startups.
And many of the best business schools in the world, including Wharton and Stanford, have expanded their offerings of MBA courses to include classes in Bitcoin and Blockchain. "We are at the point where there is a critical mass to teach this domain," said Kevin Werbach, a professor at the Wharton School.
John Jacobs, a former Nasdaq executive who is now director of the Georgetown School of Business, said he "constantly" receives calls from recruiters who ask: "We need people to understand how to apply Blockchain technology."