Tech
Ripple Extends Support to Universities Studying Cryptocurrencies
Ripple continues to invest in blockchain education and innovation with another donation through its University Blockchain Research Initiative (UBRI) to Morgan State University, the first historically black college or university to be included in the cryptocurrency development program. Morgan State will receive $350,000 annually for three years for research, programming and partnerships with other HBCUs. Ripple first invested in Morgan State in 2019.
The funds will support Morgan State National Fintech Centerwhich university officials say will help the college and the broader Baltimore area achieve its goal of becoming an emerging technology hub.
The National Fintech Center focuses on leveraging cutting-edge technologies such as blockchain and cryptocurrency to revolutionize the financial and technology sectors. Since its launch in 2018, partly driven by Morgan State students’ growing interest in cryptoeconomics and blockchain, the Fintech Center has served as the hub of the HBCU Blockchain and Fintech Network.
Positive for all involved
Ripple’s UBRI supports more than 50 universities internationally, from Ivy League schools to state land-grant colleges. One of the flagship initiatives is the Ripple Blockchain Collaboratory at the University of Wyoming, founded in 2022.
Ripple says the effort is designed to promote academic research in blockchain innovation. Of course, the program offers real benefits to Ripple’s business prospects as an enterprise blockchain company. THE UBRI website notes that one of its long-term goals is to “drive research that increases the global adoption of cryptocurrencies.” The work includes non-technical aspects such as research into the regulation of central bank digital currencies.
But for those in the cryptocurrency industry, research and support for digital assets is welcome. “Even though it’s not a large sum by today’s standards, it’s still a significant gesture,” he said Joel Hugentobler, Cryptocurrency Analyst at Javelin Strategy & Research. “A growing number of universities in the United States and around the world are expanding their curriculum to teach blockchain and offer fintech-specific courses. This confirms the growing trend of this technology as well as the institutional interest.”
“Organizations like the University of Wyoming are focusing on these technologies and expanding to improve digital literacy in Wyoming high schools,” he said. “We are all supportive of the direction these efforts will take.”