Ripple Grants $2 Million to University of Kansas, Funds 29 Universities to Conduct Blockchain and Crypto Research

The University of Kansas has become one of the 29 research institutions to receive funding from Ripple.

The University is receiving $2 million-over five years-to support research related to cryptocurrency, blockchain, and digital payments.

Ripple-known for its push for cross-banking digital payments, as well as its XRP token-instituted the University Blockchain Research Initiative in June of last year to accelerate academic research, technical development, and innovation in the blockchain, cryptocurrency, and digital payments space.

It pledged $50 Million to 17 universities globally before expanding that list with 11 more institutions, including the University of Kansas.

The University will determine its own research topics, and Ripple will collaborate with students and faculty to provide technical resources and expertise.

The donation will also support the KU Blockchain Institute, a student-led organization that promotes the use of blockchain technology, added the DECCAN Chronicle.

"We launched UBRI back in June of 2018 to provide support for 17 different universities around the world to help progress their study of blockchain technology, cryptography, digital assets and fintech," said Eric van Miltenburg, SVP of Global Operations at Ripple.

Funding universities and research institutions has the potential to accelerate the development of the technology, as well as provide a pipeline of better-qualified employees to enter these organizations after graduation.

"We've added 11 new universities this time around and now have 29 schools involved with the program. Expanding the ecosystem to a more global, diversified network of UBRI partners will only continue to enrich these projects."

It has already been shown that university student and millennials are more interested and have greater belief in blockchain and cryptocurrency technology.