The University of Toronto, Canada’s largest, is set to shake up the crypto industry with an unexpected partnership. Indeed, it is partnering with Ripple to embrace the blockchain revolution by launching an independent XRP validator node. This alliance is part of the UBRI initiative, a Ripple funding program dedicated to academic research on blockchain and crypto.
A partnership to promote blockchain research
As cryptos face challenges in the US with the SEC looking to stifle the industry, some regions are recognizing the potential of these technologies. This is notably the case of the University of Toronto, in Canada.
In a communicated relayed by Coindesk, the largest Canadian university has announced that it is embarking on the blockchain by launching an XRP validator node thanks to a partnership with Ripple.
This strategic partnership significantly strengthens the research agenda on blockchain and cryptographic technology in Canada. As the largest university in the country by enrollment, the University of Toronto will play a crucial role in educating students and conducting cutting-edge research. Objective: to provide them with the technical skills necessary for a career in the world of crypto.
In the press release, one can read: This all-new UBRI partnership helps expand a program that already supports significant blockchain and crypto technology research in Canada, while also providing opportunities for students to gain technical skills for a crypto career.. »
Ripple expands beyond US borders
Ripple, a company specializing in payments and blockchain technology, has already invested more than $2 million in top universities and colleges in Canada over a five-year period. This collaboration will help stimulate research on blockchain and crypto technology within the University of Toronto.
According to Eric van Miltenburg, SVP of Strategic Initiatives at Ripple, educating and training future players in the crypto industry is critical to ensuring the industry’s long-term success.
” As more and more crypto projects and businesses seek to move away from the United States, creating educational opportunities and nurturing a growing talent pool is crucial to achieving widespread adoption of technology“, he told CoinDesk.
The UBRI (University Blockchain Research Initiative) program launched by Ripple in 2018 continues to grow and support academic research on blockchain and cryptos. Currently, it encompasses more than 45 universities in 20 countries, and encourages more than 1020 academic research projects related to blockchain.
Since Ripple has faced pressure from the SEC, the company has been increasingly strengthening its presence outside Gary Gensler’s jurisdictions. Last month at the FinTech Summit in Dubai, Brad Garlinghouse, CEO of Ripple, shared his plans to expand into more crypto-regulatory friendly countries. A clear strategy that demonstrates Ripple’s determination to continue to innovate and grow despite the obstacles.
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