Ripple to Donate $50M to Boost Blockchain Research

The goal of the initiative better understanding of the blockchain and stimulate innovation in this area
05 June 2018   1273

Ripple will donate $ 50 million to 17 universities around the world to increase acceptance of the blockchain and to boost technology research, CCN reports.

Ripple announced the launch of the University Blockchain Research Initiative (UBRI), within which the company will make donations in US dollars to educational institutions conducting their own research in the field of blockchain and digital assets.

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.
 

Ripple Team

The goal of UBRI is better understanding of the blockchain and stimulate innovation in this area, as well as the development of training courses and programs to raise students' awareness of blockchain, digital currencies and financial technologies.

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)

 As expected, the project participants will be able to determine the topics of the research themselves, and receive funding from the fund for their conduct.

Ripple to Sell $169.42M Worth XRP in Q1 2019

It's 31% more than in Q4 2018, when company was able to sell less than $130M worth XRP
25 April 2019   191

Ripple published a financial report for the first quarter of 2019, indicating that during this period it managed to gain $ 169.42 million from the sale of XRP cryptocurrency. The value increased by 31% compared with the fourth quarter 2018, when XRP was implemented at $ 129.03 million.

Direct institutional sales brought the company $ 61.93 million compared to $ 40.15 million in the previous quarter. The indicator of “programmable sales”, that is, sales carried out with the help of intermediaries, also increased and amounted to $ 107.49 million against $ 88.88 million.

XRP Sales Table, Q4 2018 | Q1 2019
XRP Sales Table, Q4 2018 | Q1 2019

Total XRP trading declined by about 2% to $ 53.85 billion in the first quarter of this year, against $ 54.82 billion in the fourth quarter of the previous year.

For comparison, for the same period last year, Ripple managed to sell XRP for $ 167.7 million, that is, a change in the indicator was about 1%.

In the first quarter, Ripple released 3 billion XRP from its escrow wallets. At the same time, 2.3 billion XRP were returned and entered into new escrow contracts. “The remaining 700 million XRP not returned to escrow are being used in a variety of ways to help support the XRP ecosystem,” explains the company.

In the middle of the month, it became aware of the decision of the Japanese bank Resona to withdraw from the MoneyTap payment project being developed by Ripple.