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American blockchain payments firm Ripple Labs Inc has recorded important milestones in one of its focal operational initiatives, the University Blockchain Research Initiative (UBRI). According to Ripple Labs, the program launched with a $50 million philanthropic commitment has seen 50 partners onboarded across the board.
1/ In 2018, Ripple’s UBRI program launched with a $50M philanthropic commitment to leading universities around the world to support academic research, technical development, and innovation in blockchain and crypto. https://t.co/B1DBYNiSdV
— Ripple (@Ripple) July 7, 2023
According to the update, the academic research initiative featuring blockchain technology has seen 590 fellowships and scholarships awarded while supporting the publication of over 1,000 research articles and presentations. The UBRI program is now active on six continents around the world.
Ripple Labs started as a predominantly blockchain payments start-up but it has expanded and diversified over the years as it recorded remarkable growth. The UBRI is one of the core ways to give back to the public while also investing resources into the evolution of emerging technology.
Ripple believes that the adoption of blockchain in the near future is imminent and it is confident that functional research will play a crucial role in this push. The firm confirmed that with its involvement in the UBRI, a number of high-profile universities have rolled out their blockchain and Web 3.0-focused programs already.
Gamza KhanzadaevPositioning itself as a force for good
While the firm's legal brawl with the United States Securities and Exchange Commission (SEC) appears to be attempting to derail its focus, Ripple is working hard to be a force for good. As reported earlier by U.Today, the firm is also exploring a move into the real estate Industry.
The plans to boost the tokenization of the real estate sector were confirmed by Ripple's CBDC advisor, Antony Welfare, who also discussed similarities on how the innovation will incorporate central bank digital currencies (CBDCs).
Despite the lawsuit and its impacts, Ripple community members appear pleased with the firm regarding its latest strides.
Tomiwabold Olajide
Dan Burgin
Vladislav Sopov