Ripple Donates $50 Million to Boost Blockchain and Crypto Adoption

June 4, 2018 BY

Today Ripple announced on their website a partnership called ‘the University Blockchain Research Initiative’. The partnership includes a donation of $50 million to 17 universities around the world. With the donation Ripple aims to speed up the adoption of blockchain and cryptocurrency. 

The company states that they will not donate $50 million in Ripple, but that the donations will be made in U.S. dollars. Ripple furthermore mentions that the interest in blockchain is skyrocketing as people are starting to discover the game-changing potential of distributed ledger technology.

“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 universities that have been selected for the partnership are located in different countries across the globe and include universities in Canada, United Kingdom, the Netherlands, and Brazil. Here’s the complete list of the 17 universities that Ripple is investing in:

1. Princeton University (Center for Information Technology Policy)
2. MIT (Computer Science and Artificial Intelligence Laboratory)
3. University of Pennsylvania (Wharton School)
4. Indian Institute of Technology Bombay
5. Australian National University College of the Law
6. Delft University of Technology (Netherlands)
7. Fundação Getulio Vargas (Brazil)
8. University of California, Berkeley (Haas School of Business)
9. International Institute of Information Technology, Hyderabad (IIIT-H)
10. Korea University
11. University of Texas at Austin (McCombs School of Business)
12. University of North Carolina at Chapel Hill
13. University College London
14. University of Luxembourg
15. University of Nicosia (Cyprus)
16. University of Oregon
17. University of Waterloo (Canada)

Ripple states that educations are the traditional backbone of innovation and universities are responsible for training the workforce of the future. Therefore, it is an excellent choice to work closely with universities when you are trying to speed up the global adoption of blockchain. According to Ripple:

“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.”

With this new partnership, Ripple is showing the world how confident the company is in regards to the future of blockchain. In March of this year, the company already donated $29 million of its XRP cryptocurrency to public schools. The money donated is used to buy classroom materials for more than 28,000 public school teachers across all 50 states in the US.

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