The company Ripple announced that it would allocate tens of millions of dollars to Finance University research of the blockchain and cryptocurrency.

According to the report, published on 4 June, as part of the University research initiative of the blockchain (UBRI) startup is collaborating with 17 universities around the world to support academic research in this industry.

Ripple reported that in addition to the Fund of $50 million, the company is ready to share “experience and technical resources,” with research groups of universities. According to a company statement, companies will be able to select research topics independently.

Blockchain-the company’s products have been increasingly recognized in the banking and money transfers, so Ripple is interested in academic research and development, which, in her words, “will promote the understanding of the blockchain technology and innovation”, as well as helping to develop new programs for educational institutions.

Some universities already have positive results. For example, the Center for information technology policy at Princeton University, creating a program of study of the impact of cryptocurrencies and blockchain on the policy of the United States and around the world.

In addition, UBRI is also involved in the FINTECH initiative at the Massachusetts Institute of technology (MIT) dedicated to the study of blockchain, cryptocurrency, cybersecurity, and international payments.

The Ripple initiative also involved the universities of Europe, Australia, Brazil, Canada, India and South Korea.