Texas University to Receive $2 Million for Blockchain Research

University of Texas

The University of Texas at Austin is one of the most privileged academic institutions in the US, as Ripple pledges to invest $2 mln for it to push through with its blockchain research, recent reports said.

Ripple, a Distributed Ledger Technology (DLT) startup hailing from San Francisco, CA, pledged the said amount to be invested over the succeeding five years for the Blockchain Research Initiative of the said university’s McCombs School of Business.

The said funding is only a small portion of the $50 mln pledge of Ripple for investing in blockchain researches by different universities from around the world. Along with the Massachusetts Institute of Technology (MIT), Princeton University, as well as fourteen other academic institutions worldwide, the University of Texas at Austin has signed up in a significant partnership with Ripple for furthering blockchain research, even though it has yet to revealed of its detailed plan on how the partnership would work, as well as what they are currently working at.

McCombs School of Business’ associate professor of finance said that “not only the business school but other branches will be able to participate as well,” citing its medical counterpart would very much like to participate in the upcoming blockchain research.

(Photo Credit: University of Texas at Austin)

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