In a new collaboration with Ripple, University of Toronto, a public research university in Canada, intends to establish an independent XRP ledger validator.
This validator will mainly handle payment processing, as the university aims to advance the cryptocurrency industry’s future. Canada’s largest university by enrollment will join Ripple’s Canadian UBRI partners which are University of Waterloo and Toronto Metropolitan University.
This partnership is the latest move by Ripple’s University Blockchain Research Initiative (UBRI) in Canada. Over five years, the firm has invested over $2 million in the country’s leading universities and colleges.
This recent partnership within UBRI will expand an existing program that supports crucial research on Canada’s blockchain and cryptocurrency technology. Additionally, it aims to provide students with valuable opportunities to develop the technical skills required for a career in the crypto industry.
Eric van Miltenburg, the Senior Vice President of Strategic Initiatives at Ripple, emphasized the cruciality of the industry’s long-term success. Numerous crypto projects and companies seek to establish themselves beyond the borders of the United States. He stated that creating endless educational opportunities and cultivating a talent pool is imperative to facilitate widespread adoption.
Eric van Miltenburg stated about the location of Ripple in Canada:
“Canada, and Toronto in particular, is home to some of the world’s most prestigious business and technical schools and has become a global technology hub. Ripple continues to expand its presence in the region to support the next generation of crypto, blockchain, and Web3 leaders through strategic partnerships and funding for these universities.”
About University Blockchain Research Initiative in Canada
In June 2018, Ripple initiated UBRI by allocating over $50 million to the endeavor and partnering with 17 universities worldwide.
The initial UBRI partners embody diverse geographies and markets, along with a vibrant fusion of academic disciplines. Subsequently, it disbursed over $47 million to its global university partners and raised its commitment to $80 million this year.
Through UBRI, Ripple actively supports faculty and students in exploring various applications of blockchain technology and its potential impact across diverse industries.
The initiative provides financial resources, technical expertise, and access to Ripple’s extensive network of industry professionals. These resources enable researchers to delve into cutting-edge projects and develop real-world solutions.