International Institute of Information Technology, Hyderabad (Photo:www.iiit.ac.in)
Hyderabad: American payment technology firm, Ripple, has selected International Institute of Information Technology, Hyderabad (IIIT-H) as one of the two prestigious universities from India for its University Blockchain Research Initiative.
Ripple, who will partner with 17 universities around the world, hopes that its university blockchain research initiative will help support academic research, and innovation in blockchain, cryptocurrency and digital payments.
In addition to IIIT-Hyderabad, the list includes also includes Indian Institute of Technology (IIT) Bombay from India as well as universities from Netherlands, Brazil, London and Waterloo among others.
Each university will be given the freedom to determine its own research topics and areas of focus and no research parameters will be set. In addition to providing a multi-year and multi-million dollar commitment, Ripple will also collaborate with universities by providing subject matter expertise and technical resources, as needed.
Professor P.J. Narayanan, director, IIIT-Hyderabad said, "It’s gratifying to see IIIT-H’s research work being recognised through the UBRI, alongside some of the best universities in the world. We have always valued theoretical and applied research as well as industry connect from the very beginning. This programme enables both and we are looking forward to contributing to the blockchain area".
"The University Blockchain Research Initiative will play in advancing our understanding and application of cryptography and blockchain technology. It also speaks to the reality that university graduates will fuel a continually evolving and maturing financial marketplace and workforce," said Eric van Miltenburg, SVP of Global Operations at Ripple.
He said much of the enthusiasm and activity to date around blockchain is disconnected from real use cases that result in clear benefits to businesses or civil society. "While Ripple won’t dictate research parameters, we are excited to play a role in helping to support faculty and student-led projects that explore increasingly useful applications of blockchain," he said.