Ripple is working on spreading knowledge and awareness regarding cryptocurrencies, its uses and blockchain technology. In order to achieve that, the crypto firm is carrying out a project named University Blockchain Research Initiative [UBRI]. Under UBRI, Ripple partners with 17 prestigious educational institutions across the globe.
As part of this initiative Ripple has recently reached out to Indian Institute of Technology Bombay, which is a major tech university in India. The Indian Institute of Technology, Bombay (IIT-B) has signed an MoU with US-based Ripple Labs Inc. under this agreement, the collaboration will build a center of excellence to promote academic research, technical development and innovation in the blockchain technology, cryptocurrency along with digital payments. From IIT-B, Prof. Devang V. Khakhar, Director and from Ripple Mr. Navin Gupta, Managing Director inked the MoU.
Prof. Khakhar talked about the new partnership saying,
“The partnership will enable our faculty and students with novel opportunities for research and technology development in blockchain and cryptocurrency which will add value to the global blockchain ecosystem as well as emerging fields like FinTech. We look forward to the fruits of the collaboration in terms of the advancement of high-quality research and development”.
He believes that the collaboration of a financial technology company and an academic institution will encourage better understanding and implementation of the blockchain, cryptocurrency, cryptography and related topics. The partnership intends to increase the adoption of such technologies worldwide. Additionally, when IIT-B is teaming up with Ripple along with the 17 universities across the world, it will benefit from the $50-million Ripple donation for its global University Blockchain Research Initiative (UBRI). Also, Ripple’s managing director, South Asia and MENA (the Middle East and North Africa), Navin Gupta stated, “The idea is to create the next generation of students and entrepreneurs.”
According to professor Devang V. Khakhar, The team-up of IIT-B and Ripple is going to facilitate IIT-B’s faculty and students with chances to conduct research and technology development in blockchain and cryptocurrency. With the initiative of the crypto giant Ripple, the global blockchain ecosystem, as well as industries such as fintech will see enormous growth in the coming years. Through the partnership, blockchain’s potential can be deployed for fields like payments, healthcare, agriculture and in smart cities.