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Ripple Donates $50 Million to 17 Universities to Boost Blockchain, Crypto Adoption

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Cryptocurrency startup Ripple, the blockchain-based payment network, is donating $50 million to 17 universities around the world to bolster the adoption of blockchain, the technology underpinning bitcoin.

Ripple announced the partnership, called the University Blockchain Research Initiative, on its website June 4. The company said its donations will be made in U.S. dollars, not cryptocurrency.

“We’re excited to announce the University Blockchain Research Initiative (UBRI), a collaboration with top universities around the world to support and accelerate academic research, technical development, and innovation in blockchain, cryptocurrency, and digital payments,” the San Francisco-based company said.

Interest In Blockchain Spikes

Ripple said interest in blockchain is skyrocketing as people are starting to discover the game-changing potential of distributed ledger technology.

“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,” the company said.

Ripple is investing $50 million in a multi-university blockchain project. (Pixabay)

Here’s the complete list of the 17 universities that Ripple is investing in:

Princeton University (Center for Information Technology Policy) MIT (Computer Science and Artificial Intelligence Laboratory) University of Pennsylvania (Wharton School) Indian Institute of Technology Bombay Australian National University College of the Law Delft University of Technology (Netherlands) Fundação Getulio Vargas (Brazil) University of California, Berkeley (Haas School of Business) International Institute of Information Technology, Hyderabad (IIIT-H) Korea University...
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