A startup behind the 3rd largest cryptocurrency by capitalization - Ripple (XRP/USD) looks to speed up the growth of the blockchain and crypto technologies. It has committed to donating $50 million to 17 leading universities to boost academic blockchain research, as announced by the company yesterday. Interestingly, the donation will be conducted in dollars, not in XPR.
University Blockchain Research Initiative aims for the donated funds to be applied on research and development projects relating to blockchain, cryptocurrency and digital payments. Some of them will involve the technology exploited by Ripple and its cryptocurrency (XRP ) - but that is not a requirement since company will allow for universities to choose their own paths of research. For example, Princeton university will seek to create a program aimed at facilitating the understanding of the impact of legislation impact on the cryptocurrency and blockchain technology.
Eric van Miltenburg, senior vice president of Operations at Ripple has said: "As globalization increases, so does the demand for technological solutions and talent to solve the world's hardest financial problems, such as retail remittances"
The initiative was also launched due to an increase in demand for jobs in the field. Over 4,500 job openings were listed on LinkedIn mentioning the terms of ‘blockchain’ or ‘crypto-coins’ last year, a 150% increase over the previous year.
And it is not the first time Ripple makes donation either. Recently actor and venture capitalist Ashton Kutcher signed off on a $4million grant on behalf of the company to the Ellen Degeneres Wildlife Fund.
By Nadya Astam