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Ripple To Donate $2 Million To University Of Texas For Blockchain Research

Published: 15/06/2018
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What is it for?

The University of Texas at Austin is among universities that will receive financial support from Ripple.

 

In the next five years, Ripple will invest $2 million for the university branch McCombs School of Business for the blockchain research. The company’s initiative will be implemented after recent information on the allocation of $50 million to the world’s leading higher educational institutions for the blockchain development.

 

Associate Professor Cesare Fracassi, who runs the Blockchain Initiative program, stated that McCombs School of Business does not have a clear plan on how to manage this amount, but a business plan will be developed by the end of the year. Moreover, other university departments can apply for funding, for instance, the medical school expressed interest in blockchain study.

 

As previously reported, Ripple believes banking institutions are unlikely to massively use blockchain technology to carry out international money transactions.

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