Ripple Funds University of Texas at Austin $2 Million for Blockchain Research

Ripple Investment Plans On Texas University Blockchain Research

Ripple, a ledger technology company based in San Francisco is planning to carry out major investment plans. The company has earmarked the University of Texas at Austin as one of the platforms for investment. Ripple has stated that it is planning to invest $2 million on the university’s Blockchain Research. The report by Daily Texan stated that Ripple was planning to support the initiative for a period of five years. The Blockchain Research is to be carried out by the McCombs School of Business.

Blockchain Research Initiative

Ripple has plans of investing more than $50 million on blockchain research initiatives being carried by universities around the world. Some of the most notable recipients include Princeton University and Massachusetts Institute of Technology. 14 other universities around the world have also been earmarked by the company for this initiative.

Cesare Fracassi an associate professor at the McCombs School of Business stated that the faculty does not have a solid plan on how the funds will be utilised. The professor called for proposals from both the teachers and graduate students. Apart from the school of business other faculties were invited to participate. The Medical School particularly expressed interest in the blockchain research initiative.

The initiative began in April 2018 where a conference was held that had more than 300 attendees. Among the invited guests included well-established people in the blockchain industry. Goldman Sachs of fintech equity and Jim Schneider of IBM Global Blockchain Services were the guests. Fracassi highlighted plans of another conference to be held in 2019.

Final Thoughts on Ripples Blockchain Initiative

The main mission of the Blockchain Initiative is to support and teach students on the blockchain, cryptocurrency and digital payments. The Ripple initiative is also planning to foster relations with other media organizations to ensure that the information on blockchain initiatives is broadcasted.

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