University of Waterloo joins Ripple-funded blockchain research initiative

University of Waterloo website

The Academy of Waterloo announced today information technology is ane of 17 partner schools joining a blockchain inquiry initiative.

Ripple, a San Francisco-based technology company, is backing the initiative. Chosen the University Blockchain Enquiry Initiative (UBRI), Ripple will commit over $l million USD in funding to the schools for blockchain-related research.

Waterloo is the but Canadian university in the initiative. Each academy in the initiative is able to determine its own research topics.

Each academy volition also collaborate with Ripple on inquiry and technical development. The goal is to expand blockchain understanding and meliorate innovation in the engineering.

Ripple will also piece of work with universities to help develop curriculum to assist educate students on blockchain and cryptocurrency.

Finally, the initiative will help to stimulate dialogue between students, faculty, business leaders and technologists about topics around blockchain.

"We know from recent globe events and the experience of many of our partners that blockchain technologies will increasingly disrupt the way the world does business," said Pearl Sullivan, dean of the faculty of engineering.

Blockchain is relatively new. Cryptocurrencies unremarkably utilise it to manage transaction records. Blockchain is finer a digital leger that contains records of transactions made using a currency. Information technology's secure and easy to track.

The technology could exist the next large matter in the financial manufacture and potentially other industries every bit well. All the same, the total potential of blockchain has yet to exist realized.

Due to this, a partnership with universities — places where ideas tin flourish and the workforce of tomorrow is trained — will assistance insure blockchain applied science continues to innovate.

Source: University of Waterloo