Ripple announced new partners for its University Blockchain Research Initiative or UBRI. Universities from Africa, UAE, and Iceland join the initiative. The ultimate result will be more academic research on CBDCs all over the world.
It’s another great news for Ripple that plans to expand its reach to as many countries as possible in the world. Academic researches can become the start for more activities in terms of adopting cryptocurrencies in new countries.
Driving CBDC Research Forward
Central bank digital currency or CBDC is a new approach from governments to adopt blockchain-based solutions in their financial activities. Many countries are planning to implement a new kind of currency. Countries invest a lot in research related to CBDCs, and universities around the world are trying to be the first in this path. Ripple, with its UBRI program, plans to have an effective role in these movements. New universities joining the initiative show Ripple has been successful in leading the path and attracting traditional institutions.
University of Capetown, Reykjavik University, and New York University Abu Dhabi (NYU Abu Dhabi) are the new partners of UBRI that will join other universities in CBDC research. More than 35 other universities from all over the world are UBRI partners.
UBRI helps researchers in universities with the essential tools and resources for studying and developing blockchain-based solutions. Ripple believes UBRI can become a leading player in the future of the fintech industry. The initiative will help new talents find opportunities and resources easier. Ripple reports that UBRI has been successful in helping more than 280 research projects until now.
The University of Cape Town is the first African partner to join UBRI. The university will provide Masters’s and Ph.D. programs in financial technology. NYU Abu Dhabi is another new partner. The first UAE partner for UBRI will deploy research in CBDCs next to other members like the National University of Singapore, University College London, Stanford University, and ETH Zurich. Ramesh Jagannathan, Managing Director of startAD and also Vice Provost for Entrepreneurship at NYU Abu Dhabi, said:
“Blockchain is the cornerstone of the digital transformation that will drive economic development in the decades to come. In fact, the global blockchain distributed ledger market size is projected to reach $137.29 billion by 2027, growing 62.7 percent from 2020 to 2027. NYU Abu Dhabi and startAD intend to be at the forefront of research and implementation of new technologies into real-world applications, spurred by visionary government initiatives and groundbreaking initiatives such as Ripple’s UBRI.”
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