In order to bolster the growth in the blockchain and cryptocurrency industry, cryptocurrency exchange and remittance network, Ripple, committed more than $50 million to universities worldwide.
Ripple announced that it would allocate funds to some 17 universities around the globe, including MIT, Princeton, Korea University, IIT Bombay, and the University College of London.
Dubbed as the University Blockchain Research Initiative, Ripple said the universities could decide on their own research topics. Princeton, for instance, is creating a program that aims to understand the policy impact of cryptocurrencies and blockchain technology.
Ripple also hinted that this is only the beginning, as the firm’s allocation of the $50 million funding was only for the “first wave of university partners”.