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   495

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 Plan to Target Chinese Market

It has became known that Ripple has plans for Chinese market as early as in March
16 August 2018   131

Ripple, the provider of financial solutions, plans to enter the Chinese market with its blockchain solution for international payments. This is reported by CNBC.

China is definitely of interest, it is definitely a target. China is definitely a country and region of interest.
 

Jeremy Light
Vice president of European Union strategic accounts, Ripple

It has became known that Ripple has plans for Chinese market as early as in March. As the head of the Ripple representative office in the Asia-Pacific region, Sagar Sarbhai, stated at the time, the company is actively negotiating with state institutions and banks of the PRC, regulating regulatory and legal issues, as well as educational work, telling about the advantages of new payment solutions.

Earlier, Ripple entered into a deal with a financial firm from Hong Kong LianLian International. The purpose of the agreement is the use of the xCurrent product by the Hong Kong company to create a system of international payments.

The Ripple product based on the distributed registry technology was originally created for the organization of fast and international payments. More than 100 financial organizations cooperate with the company, including UniCredit, UBS and Standard Chartered.

Against Ripple Labs there has been filed three lawsuits on charges of manipulating the price of the XRP token. At the same time one of the claims was rejected by the Northern District Court of California.