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Ripple Makes Plans to Allocate $50 Million Into Academic Research on Blockchain

According to an announcement, Ripple is creating the University Blockchain Research Initiative (UBRI) in a move to bolster academic research on blockchain technology.

Ripple states that they are setting aside $50 million to fund the initiative, as well as provide their own expertise and technical expertise. Ripple aims to collaborate on Research and development that will “stimulate understanding and innovation” for blockchain as well as create curriculums to lower the barrier to entry for students.

The initiative is already moving, as the Center for Information Technology Policy at Princeton is creating a program to study the policy impact of cryptocurrency and blockchain globally.

The UBRI includes 17 universities, in several countries such as Australia, Brazil, Canada, Europe, India, South Korea, and of course the United States.

Academic initiatives like the UBRI are a huge leap forward, as blockchain companies strive to become more mainstream, they will have to contribute to society not only to bolster their legitimacy, but to inform the public of the technology that they build, as the public largely does not know about blockchain.