A U.S. based technology company, Ripple had revealed an initiative targeting universities around the globe. The University Blockchain Research Initiative (UBRI) aims to support and encourage a blockchain and crypto-based curriculum establishment. According to the Ripple Insights report, the UBRI consists of $50 million, which is to be donated to 17 universities internationally.
What is Ripple & why UBRI?
Ripple is a technology company, which focuses on blockchain solutions and apparently provides the most efficient solution for global transfers of money. It uses the cryptocurrency of XRP but doesn’t necessarily control it. Operating in an open payment network aids in the transfer of currency, providing a smooth experience in money transfers internationally.
Ripple is in the process of donating a rather large sum of money to universities globally and the reason behind it was explained by Eric van Miltenburg, Senior vice president of Business Operations at Ripple,
The UBRI 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.
It is apparent that Ripple is focusing on establishing a market of tech savvy and learned individuals in this field particularly, for the future. Which will in turn provide the company with their future workforce.
Bahçeşehir University (BAU), Turkey
Last year, in 2017, the Turkish government was wary of getting involved in the fast growing cryptocurrency business, claiming that it wasn’t compatible with the states religion, Islam. They credited the reason to the lack of control the government has on Bitcoin.
In a statement from a meeting of the state Directorate of Religious Affairs (Diyanet), lawmakers said,
Buying and selling virtual currencies is not compatible with religion at this time because of the fact that their valuation is open to speculation. They can be easily used in illegal activities like money laundering, and they are not under the state’s audit and surveillance.
Turkey just established its first ever blockchain center at a university level. The country’s university blockchain center is located in the cultural heart, Istanbul that also serves as the bridge between Asia and Europe. The Istanbul Blockchain and Innovation Center (BlockchainIST Center), was inaugurated on Friday at Bahçeşehir University (BAU).
The center’s aim is to utilize the expanding blockchain technology in different fields as the rest of the world. It will work with the students as well as the entrepreneurs who want to widen their understanding and pursue their academic studies in the blockchain area.
According to the director of the newly established center, Bora Erdamar,
The purpose of the BlockchainIST project is to be the most important center of research and development and innovation in Turkey in which scientific studies and publications are made in blockchain technologies. To this end, it is crucial to cooperate with other universities, the business world and government institutions.
This is Turkey’s shot to overcome the shortcomings the country is facing, compared to the rest of the world in digitalization. The Istanbul Blockchain and Innovation is the first of its kind in the country to be established in a university. Serving as a beacon of hope for the country to be recognized and develop a prestigious place in the world of research and development in this technology.
Erdamar further added.
Therefore, we are trying to lead this business with such a center. We will strive to train Turkey’s human resources in blockchain and enable the country to lead the world in this area.
Universities Offering Crypto Education
On the other hand, this year other universities in different parts of the world have opened their doors to blockchain and cryptocurrency related courses keeping up with the trend of the century.
University Fundação Getúlio Vargas (FGV), Brazil
FGV, a major university in São Paulo, is now offering the country’s first ever Master’s degree in crypto-finance, according to a report on 12th of April in Finance Magnates.
It is a market with a profound lack of people with expertise. Cryptofinance has economic and financial fundamentals that are worth discussing, researching, and [being] taught.
Said Ricardo Rochman, the program’s coordinator.
University of Edinburgh, U.K.
Edinburgh University is working on launching the first blockchain lab in collaboration with IOHK, according Business Insider. The aim of the partnership is to provide unique opportunities for students to become the leaders of blockchain and cryptography in the future.
Distributed ledger is an upcoming disruptive technology that can scale information services to a global level. The academic and industry connection forged by this collaboration puts the Blockchain Technology Lab at Edinburgh at the forefront of innovation in blockchain systems,
IOHK Chief Scientist Professor Aggelos Kiayias said.
Stanford University, USA.
According to a post on the Stanford Engineering’s website, on 20th of June, Stanford created the center for blockchain research. The center is supported partially by the Ethereum Foundation. The aim of this center is to study and understand how the blockchain technology can help evolve traditional business relations.
The introductory five-year research program will be under the professors of computer science Dan Boneh and David Mazières, and will also include other Stanford professors from the fields of engineering, particle physics, and law. Other than research based on blockchain, the program will also work on developing courses on blockchain implementation, regarding its role in the financial sector to data management.
Blockchains will become increasingly critical to doing business globally. Stanford should be at the forefront of efforts to improve, apply and understand the many ripple effects of this technology.
Said Boneh, cryptography and computer security expert.
Why the need for Crypto Education?
For eons, the demand of time has remained survival of the fittest. This virtue has been fulfilled in different times through different means. The need for today’s era is to keep up with the ever changing digital trends. And since cryptocurrency has the potential to evolve several traditional systems, thus the need to study it in detail becomes imperative. It is extremely important in order to close the expertise gap in the market. If we are to make blockchain technology usable in all areas and utilize it to its full potential.