Kyoto University and the University of Tokyo have joined Ripple’s University Blockchain Research Initiative (UBRI) per CoinDesk Japan. The 2018 program now boasts 33 participants including Princeton University, Carnegie Mellon, and the National University of Singapore, among others.
Ripple committed $50 million toward the project to develop blockchain, cryptocurrency, and digital network programs. Funds sent to the Japanese universities will fuel undergraduate, graduate, and PhD studies. The University of Tokyo will also issue scholarships with the funds.
“University partners will continue to increase positive awareness of the transformative impact that blockchain technology will have across various industries,” SVP of Global Operations at Ripple Eric van Miltenburg said. “As the industry matures, the academic community plays a pivotal role in paving the road for innovative companies and entrepreneurs leveraging blockchain technologies and digital assets.”
Price of XRP over the last 30 days via CoinDesk data.
Academia continues to play a role in Ripple’s roadmap. The payment network announced commitments to the Brazilian Universities of São Paulo and Fundação Getulio Vargas in June as part of a greater South America investment strategy. At the time, Ripple reported it was adding two to three financial institutional partners to RippleNet per week in the region.
Competition for the firm is greater than ever, however. A recent testing report from dominant financial network SWIFT showed quickening settlement speeds. Test runs through 17 participants averaged 25 seconds per transfer. The fastest settlement took all of 13 seconds.
Still, quarterly sales for Ripple’s XRP are on the rise. Ripple’s Q2 numbers were up 50% with $251.51 million XRP sold. Following inflation criticisms, Ripple plans on slowing its sales across the board in Q3.
Cryptocurrency giant Ripple has partnered with Kyoto University and the University of Tokyo as part of its University Blockchain Research Initiative (UBRI). Ripple announced its new Japanese partnerships in a press release on July 30.
Emi Yoshikawa, senior director of global operations at Ripple, noted that there is high interest in blockchain within Japanese academia:
“Japan is quickly becoming a leading force in crypto assets and blockchain. The region has always been forward thinking and exploring ways to improve the current financial system […] We have seen high levels of interest from the academic community on topics around blockchain and crypto. Ripple is committed to engaging and inspiring students to become part of the workforce of the future, across areas such as blockchain, distributed computing, banking and fintech.”
The University of Tokyo will reportedly award scholarships to students doing blockchain research, and its economics department is also arranging public seminars on blockchain and settlement.
The university’s economic professors are also engaged in research on the evolving financial system, as well as frameworks for regulation and supervision for crypto assets and blockchain technology.
At Kyoto University, graduate students are conducting blockchain research in areas such as remittances by migrant workers, digital identity management for refugees and supply chain management.
University Blockchain Research Initiative
According to the announcement, Ripple provides financial resources as well as expertise and technical resources to support research. UBRI is currently partnered with 33 universities, as per the press release.
Ripple states that it believes the demand for tech solutions is growing as globalization increases and hopes that by partnering with universities, the company can help usher in a new generation of engineers, business leaders, entrepreneurs and other professionals who are blockchain literate. Eric van Miltenburg, senior vice-president of global operations at Ripple commented:
“As the industry matures, the academic community plays a pivotal role in paving the road for innovative companies and entrepreneurs leveraging blockchain technologies and digital assets.”
As previously reported by Cointelegraph, the Institute for Fintech Research at Beijing’s Tsinghua University partnered with UBRI in January. The university launched the Blockchain Technology Research Scholarship Program, a program designed for researching global blockchain regulations as well as industry development.