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Ripple Ties Up With IIT Bombay For Their University Blockchain Research Initiative

We had previously reported about Ripple’s growing list of partners in its University Blockchain Research Initiative [UBRI]. The platform is determined to promote greater awareness and understanding regarding cryptocurrencies and blockchain technology.

With already 17 prestigious international educational institutions on board, Ripple has recently reached out to Indian Institution of Technology Bombay, one of the premier institutions for tech in India, with a collaboration request.

On that note, Ripple Labs has signed a Memorandum of Understanding with IIT-B. According to this undertaken agreement, the collaboration between the two will enable the creation of a center of excellence, which shall be tasked with promoting academic research, innovation and technical growth in the field of blockchain technology, cryptocurrency and other digital payments.

IIT-B is thrilled with this new collaboration. Prof. Devang V. Khakhar, Director of the institution said:

“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”.

The MoU was signed by Prof. Khakhar and from Mr. Navin Gupta, Managing Director of Ripple.

The former is of the firm opinion that this collaboration of a blockchain centric financial platform and an academic institution would really boost the understanding and adoption of blockchain, cryptocurrency, cryptography and other related technologies.

This tie up with Ripple will allow the IIT-B students to undertake research, innovation and technology development in blockchain and cryptocurrency.

Ripple has already made some impressive strides in the area of blockchain implementation in the financial sector. This UBRI project is another step in the right direction for the company, which wishes to encourage greater adaptation of blockchain technology across various financial institutions.

Additionally, IIT-B stands to benefit massively from this collaboration due to the $50-million Ripple donation that has been promised for the UBRI.