The California-based fintech company Ripple Labs recently revealed that since its launch in 2018, its University Blockchain Research Initiative (UBRI) has sponsored over 45 university collaborations in 20 different countries and provided funding for over 1,000 research projects.
The University Blockchain Research Initiative, which was established in June 2018, intends to further academic study, technological advancement, and innovation in the fields of blockchain, cryptography, fintech, and digital assets.
The initiative, which committed more than $50 million in funding at the outset, gives research organizations and universities around the world access to financial and technical resources, promoting the creation of curricula, teamwork in industry research, and the investigation of blockchain technology applications.
According to reports, UBRI has helped 345 new or expanded courses since its inception, demonstrating the breadth of its influence. The project started out with 17 universities in 2018, but it quickly grew, adding 11 more in the beginning of 2019, including illustrious names like Cornell University, Carnegie Mellon University, the University of Kansas, and the National University of Singapore.
In spite of the United States Securities and exchange commission (SEC) bringing legal action against it in December 2020, Ripple Labs kept growing the UBRI program, establishing new partnerships, and reaffirming its dedication to the academic community.
The price of $XRP defied the general bearish trend in the cryptocurrency market last month as Ripple’s Chief Legal Officer Stuart Alderoty justified the price increase by saying that the most recent decision in the lawsuit gave him greater confidence than ever in Ripple’s prospects of winning. In the XRP market, Ripple is a significant player.
The XRP Ledger, a decentralized, open-source blockchain network built for quick and effective international transactions, recently reached the 79 million ledger milestone, as reported by CryptoGlobe.