Ripple Labs announced that is planning to open a new fund for blockchain research and innovation. This time the company will launch the University of Blockchain Research Initiative which aims to finance universities around the world which are researching and developing new blockchains.
Ripple stated that the primary targets of the fund are the support for blockchain research and technical development. Besides that, the company wants to support the creation of new curriculums which will make the blockchain more attractive to students and also to create a bridge between the future blockchain developers and the business owners from this industry.
The company announced that it has partnered with 17 universities and that it has donated $50 million to the initiative.
The company also declared that each university would have free will in choosing the domains of blockchain research and it will provide a helping hand in developing new technological solutions.
The list with universities includes the Massachusetts Institute of Technology (MIT) from the US which is one of the most prominent tech universities in the world and Delft University of Technology from the Netherlands which has the most prominent quantum computing researchers.
“The University Blockchain Research Initiative is an acknowledgment of the vital importance of the unique role universities will play in advancing our understanding and application of cryptography and blockchain technology. It also speaks to the reality that university graduates will fuel a continually evolving and maturing financial marketplace and workforce,” said Eric van Miltenburg, a Ripple Labs executive.
In December, the blockchain developer Jason King hinted that while the blockchain and cryptocurrency community has started to grow into a self-sustaining environment, the need for new developers has skyrocketed.
The small number of blockchain developers are usually involved in more than 5 projects and the new start-ups have to wait in line until they finish, he said at that time.
Also, Matt Barrie, the CEO of Freelancer.com, declared that in 2017 the category of crypto jobs has exploded on their website with an increase of 82 percent.
With Ripple’s initiative, the blockchain world could see an increase in blockchain developers who will be ready to take the technology to high standards.