Ripple is continuing to invest in blockchain education and innovation with another donation through its University Blockchain Research Initiative (UBRI) to Morgan State University, the first historically black college or university to be included in the cryptocurrency development program. Morgan State will receive $350,000 annually for three years for research, programming, and partnerships with other HBCUs. Ripple first invested in Morgan State in 2019.
The funds will support Morgan State’s National Fintech Center, which university officials say will help the college and the larger Baltimore area advance their goals of becoming an emerging tech hub.
The National Fintech Center focuses on leveraging cutting-edge technologies like blockchain and cryptocurrency to revolutionize finance and technology sectors. Since its launch in 2018, which was partly driven by Morgan State students’ increasing interest in crypto-economics and blockchain, the Fintech Center has served as the hub of the HBCU Blockchain and Fintech Network.
Positives for All Involved
Ripple’s UBRI supports more than 50 universities internationally, from Ivy League schools to state land-grant colleges. One of the flagship initiatives is the Ripple Blockchain Collaboratory at the University of Wyoming, which was founded in 2022.
Ripple says the effort is designed to foster academic research in blockchain innovation. Of course, the program provides real benefits to Ripple’s commercial prospects as an enterprise blockchain company. The UBRI website notes that one of its long-term goals is to “drive research that increases global crypto adoption.” The work includes such non-technical aspects as research into regulation of central bank digital currencies.
But for those in the crypto industry, the research and support for digital assets is most welcome. “Even though it’s not a large sum by today’s standards, it’s still a significant gesture.,” said Joel Hugentobler, Cryptocurrency Analyst at Javelin Strategy & Research. “An increasing number of universities in the U.S. and across the globe are expanding their curriculum to teach about blockchain and offer fintech-specific courses. This confirms the growing trend of this technology as well as institutional interest.”
“Organizations like the University of Wyoming focus on these technologies and expand to enhance digital literacy in Wyoming’s high schools,” he said. “We are all supportive of where these efforts are headed.”