University of Michigan joins Ripple's $50M blockchain research initiative

09 Feb, 2019 | Updated: 09 Feb, 2019
by Fifi Arisandi
University of Michigan joins Ripple's $50M blockchain research initiative

University of Michigan collaborates with Ripple Labs in their blockchain research initiative, joining 11 other education institutions worldwide.

Public Ivy League school, University of Michigan (UM) just announced their participation in Ripple’s University Blockchain Research Initiative (UBRI).

The partnership entitles UM of $1 million grant, which will be used to encourage mutidiscplinary curricula in fintech through their new facility, The Center for Smart Infrastructure Finance.

Quoting the official statement from the university, “The most important thing this funding allows us to do is integrate the engineering and data science with finance and policy to craft financial models to fund infrastructure, developing models to close the infrastructure finance gap.”

The UBRI is developed by Ripple as an effort to support academic research, technical development, and innovation in blockchain, cryptocurrency and digital payments, and is backed by a massive budget of $50 million to achieve its main goal.

According to Bitcoin News, several universities worldwide have joined the initiative, including top universities, Princeton University, MIT and University College London (UCL).

Speaking on the collaboration, Ripple Labs’ senior VP of global operations, Eric van Miltenburg said, “In less than a year, we are already seeing UBRI partners create new cross-disciplinary research programs and courses, as well as collaborate with one another to share ideas on how to grow the blockchain ecosystem.”

Read more: Ripple partners with Carnegie Mellon and 10 other universities

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Read more about: Ripple (XRP)

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